AQMS vs TVRD: Correlation
Aqua Metals, Inc. (AQMS) and Tvardi Therapeutics, Inc. (TVRD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQMS and TVRD?
On 3 years of weekly data the AQMS/TVRD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.25 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -3920.1 %².
Out of 15 assets tracked against AQMS, TVRD lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with AQMS ahead by 68.2 points (-25.9% versus -94.1%).
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 TVRD: side by side
| AQMS (Aqua Metals, Inc.) | TVRD (Tvardi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -25.9% | -94.1% |
| 5-year return | -99.4% | -99.7% |
| Volatility (ann.) | 132.6% | 119.7% |
| Beta vs S&P 500 | 1.86 | 1.39 |
| Max drawdown (3Y) | -98.9% | -98.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQMS | TVRD |
|---|---|---|
| 2022 | +1.6% | -11.8% |
| 2023 | -39.2% | -93.1% |
| 2024 | -83.4% | -31.4% |
| 2025 | -81.0% | -76.6% |
| 2026 | -41.5% | -58.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQMS and TVRD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between AQMS and TVRD?
The AQMS/TVRD correlation stands at -0.25 on a 3-year window (1 year: -0.44, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is TVRD a good diversifier for AQMS?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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-tvrd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aqms-vs-tvrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AQMS correlations · TVRD correlations
