AQST vs NAII: Correlation
How closely do Aquestive Therapeutics, Inc. (AQST) and Natural Alternatives International, Inc. (NAII) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQST and NAII?
On 3 years of weekly data the AQST/NAII correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.18 over 3 years. The 5-year figure is -0.06, and annualized covariance runs at -759.9 %².
Out of 11 assets tracked against AQST, NAII lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with AQST ahead by 70.0 points (+34.0% versus -36.0%). One caveat on sizing: AQST is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NAII: side by side
| AQST (Aquestive Therapeutics, Inc.) | NAII (Natural Alternatives International, Inc.) | |
|---|---|---|
| 1-year return | +34.0% | -36.0% |
| 5-year return | +10.7% | -85.1% |
| Volatility (ann.) | 85.7% | 49.2% |
| Beta vs S&P 500 | 0.87 | 0.09 |
| Max drawdown (3Y) | -63.5% | -71.7% |
| 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 | NAII |
|---|---|---|
| 2022 | -76.8% | -33.7% |
| 2023 | +123.9% | -22.2% |
| 2024 | +76.2% | -34.0% |
| 2025 | +81.5% | -16.9% |
| 2026 | -20.1% | -36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQST and NAII good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AQST and NAII?
The AQST/NAII correlation stands at -0.18 on a 3-year window (1 year: -0.49, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is NAII a good diversifier for AQST?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 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-naii.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aqst-vs-naii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AQST correlations · NAII correlations
