AQMS vs COOT: Correlation
Aqua Metals, Inc. (AQMS) and Australian Oilseeds Holdings Limited (COOT) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQMS and COOT?
Across a 3-year window, the weekly returns of AQMS and COOT correlate at 0.59, moderate. The past 12 months show a tighter link (0.81) than the 3-year average (0.59). Stretching to 5 years gives 0.52, with an annualized covariance of 11471.1 %².
In AQMS's tracked universe of 15 assets, COOT sits right near the top at #3. Their 12-month results are close: -25.9% for AQMS against -25.2% for COOT.
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.
AQMS vs COOT: side by side
| AQMS (Aqua Metals, Inc.) | COOT (Australian Oilseeds Holdings Limited) | |
|---|---|---|
| 1-year return | -25.9% | -25.2% |
| 5-year return | -99.4% | -95.4% |
| Volatility (ann.) | 132.6% | 146.6% |
| Beta vs S&P 500 | 1.86 | 0.13 |
| Max drawdown (3Y) | -98.9% | -97.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQMS | COOT |
|---|---|---|
| 2022 | +1.6% | +2.8% |
| 2023 | -39.2% | +10.1% |
| 2024 | -83.4% | -89.7% |
| 2025 | -81.0% | -56.7% |
| 2026 | -41.5% | -10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQMS and COOT good diversifiers for each other?
Only partially. A correlation of 0.59 means AQMS and COOT 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 AQMS and COOT?
The AQMS/COOT correlation stands at 0.59 on a 3-year window (1 year: 0.81, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is COOT a good diversifier for AQMS?
Only partially. A correlation of 0.59 means AQMS and COOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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/aqms-vs-coot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aqms-vs-coot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AQMS correlations · COOT correlations
