AQMS vs PRAX: Correlation
Aqua Metals, Inc. (AQMS) and Praxis Precision Medicines, Inc. (PRAX) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQMS and PRAX?
On 3 years of weekly data the AQMS/PRAX correlation comes out at 0.69, strong. Lately the two have moved closer together, with the 1-year correlation at 0.85 versus 0.69 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 15573.4 %².
Few assets follow AQMS as closely as PRAX, which ranks #1 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with PRAX ahead by 709.9 points (-25.9% versus +684.0%).
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 PRAX: side by side
| AQMS (Aqua Metals, Inc.) | PRAX (Praxis Precision Medicines, Inc.) | |
|---|---|---|
| 1-year return | -25.9% | +684.0% |
| 5-year return | -99.4% | +28.6% |
| Volatility (ann.) | 132.6% | 170.9% |
| Beta vs S&P 500 | 1.86 | 2.13 |
| Max drawdown (3Y) | -98.9% | -68.6% |
| Market cap | – | $10.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQMS | PRAX |
|---|---|---|
| 2022 | +1.6% | -87.9% |
| 2023 | -39.2% | -37.6% |
| 2024 | -83.4% | +245.4% |
| 2025 | -81.0% | +283.0% |
| 2026 | -41.5% | +24.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQMS and PRAX good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AQMS and PRAX?
As of 2026-08-27, the correlation of weekly returns between AQMS and PRAX is 0.69 over 3 years, 0.85 over 1 year and 0.54 over 5 years.
Is PRAX a good diversifier for AQMS?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aqms-vs-prax.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aqms-vs-prax/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AQMS correlations · PRAX correlations
