ACMR vs PNW: Correlation
How closely do ACM Research, Inc. (ACMR) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACMR and PNW?
On 3 years of weekly data the ACMR/PNW correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.11) sits close to the 3-year figure. The 5-year figure is -0.06, and annualized covariance runs at -287.1 %².
By 3-year correlation, PNW places #8 of the 13 assets tracked against ACMR. Their recent paths diverged sharply: over the last 12 months ACMR outperformed by 169.2 percentage points (+181.6% for ACMR against +12.4% for PNW). Note the risk asymmetry: ACMR runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ACMR vs PNW: side by side
| ACMR (ACM Research, Inc.) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +181.6% | +12.4% |
| 5-year return | +173.8% | +59.3% |
| Volatility (ann.) | 80.8% | 18.2% |
| Beta vs S&P 500 | 2.07 | 0.09 |
| Max drawdown (3Y) | -58.4% | -14.4% |
| Market cap | $5.6B | $11.9B |
| P/E (trailing) | 37.3 | 18.8 |
| Dividend yield | 0.00% | 3.67% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ACMR | PNW |
|---|---|---|
| 2022 | -72.9% | +13.0% |
| 2023 | +153.4% | -1.2% |
| 2024 | -22.7% | +23.5% |
| 2025 | +161.3% | +8.9% |
| 2026 | +104.0% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACMR and PNW good diversifiers for each other?
Yes. With a correlation of -0.20, ACMR and PNW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACMR and PNW?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.11 over the last year and -0.06 over 5 years.
Is PNW a good diversifier for ACMR?
Yes. With a correlation of -0.20, ACMR and PNW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acmr-vs-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acmr-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACMR correlations · PNW correlations
