AQST vs MRNO: Correlation
Aquestive Therapeutics, Inc. (AQST) and Murano Global Investments PLC (MRNO) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQST and MRNO?
Over the past 3 years, AQST and MRNO moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.24). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -3481.3 %².
MRNO is close to the least connected end of AQST's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with AQST ahead by 130.4 points (+34.0% versus -96.4%). Note the risk asymmetry: MRNO runs 2.0 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.
AQST vs MRNO: side by side
| AQST (Aquestive Therapeutics, Inc.) | MRNO (Murano Global Investments PLC) | |
|---|---|---|
| 1-year return | +34.0% | -96.4% |
| 5-year return | +10.7% | -97.9% |
| Volatility (ann.) | 85.7% | 170.9% |
| Beta vs S&P 500 | 0.87 | 1.65 |
| Max drawdown (3Y) | -63.5% | -99.1% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQST | MRNO |
|---|---|---|
| 2022 | -76.8% | – |
| 2023 | +123.9% | +9.0% |
| 2024 | +76.2% | -8.4% |
| 2025 | +81.5% | -94.4% |
| 2026 | -20.1% | -63.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQST and MRNO good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AQST and MRNO?
As of 2026-08-27, the correlation of weekly returns between AQST and MRNO is -0.24 over 3 years, -0.35 over 1 year and -0.17 over 5 years.
Is MRNO a good diversifier for AQST?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/aqst-vs-mrno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aqst-vs-mrno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AQST correlations · MRNO correlations
