AQMS vs PBAM: Correlation
Aqua Metals, Inc. (AQMS) and Private Bancorp of America, Inc. (PBAM) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQMS and PBAM?
Over the past 3 years, AQMS and PBAM moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.19). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -470.8 %².
Among the 15 assets we track against AQMS, PBAM sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with PBAM ahead by 79.5 points (-25.9% versus +53.6%). Note the risk asymmetry: AQMS runs 7.0 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.
AQMS vs PBAM: side by side
| AQMS (Aqua Metals, Inc.) | PBAM (Private Bancorp of America, Inc.) | |
|---|---|---|
| 1-year return | -25.9% | +53.6% |
| 5-year return | -99.4% | +253.3% |
| Volatility (ann.) | 132.6% | 19.0% |
| Beta vs S&P 500 | 1.86 | 0.13 |
| Max drawdown (3Y) | -98.9% | -14.8% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQMS | PBAM |
|---|---|---|
| 2022 | +1.6% | +20.2% |
| 2023 | -39.2% | +8.1% |
| 2024 | -83.4% | +65.0% |
| 2025 | -81.0% | -0.4% |
| 2026 | -41.5% | +53.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQMS and PBAM good diversifiers for each other?
Yes. With a correlation of -0.19, AQMS and PBAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AQMS and PBAM?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.43 over the last year and -0.13 over 5 years.
Is PBAM a good diversifier for AQMS?
Yes. With a correlation of -0.19, AQMS and PBAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/aqms-vs-pbam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aqms-vs-pbam/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AQMS correlations · PBAM correlations
