ABAT vs TRAW: Correlation
Measured on weekly returns over the past three years, American Battery Technology Company (ABAT) and Traws Pharma, Inc. (TRAW) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and TRAW?
Across a 3-year window, the weekly returns of ABAT and TRAW correlate at 0.63, strong. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.63). Stretching to 5 years gives 0.56, with an annualized covariance of 13406.5 %².
By 3-year correlation, TRAW places #5 of the 29 assets tracked against ABAT. Their recent paths diverged sharply: over the last 12 months ABAT outperformed by 60.9 percentage points (+2.1% for ABAT against -58.8% for TRAW).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ABAT vs TRAW: side by side
| ABAT (American Battery Technology Company) | TRAW (Traws Pharma, Inc.) | |
|---|---|---|
| 1-year return | +2.1% | -58.8% |
| 5-year return | -88.8% | -99.5% |
| Volatility (ann.) | 153.9% | 138.3% |
| Beta vs S&P 500 | 2.08 | 0.67 |
| Max drawdown (3Y) | -93.2% | -98.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | TRAW |
|---|---|---|
| 2022 | -62.0% | -74.5% |
| 2023 | -23.2% | +15.4% |
| 2024 | -47.5% | -52.6% |
| 2025 | +35.8% | -87.3% |
| 2026 | -19.9% | -48.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and TRAW good diversifiers for each other?
Only partially. A correlation of 0.63 means ABAT and TRAW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ABAT and TRAW?
As of 2026-08-27, the correlation of weekly returns between ABAT and TRAW is 0.63 over 3 years, 0.19 over 1 year and 0.56 over 5 years.
Is TRAW a good diversifier for ABAT?
Only partially. A correlation of 0.63 means ABAT and TRAW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abat-vs-traw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abat-vs-traw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABAT correlations · TRAW correlations
