ARMP vs KALU: Correlation
How closely do Armata Pharmaceuticals, Inc. (ARMP) and Kaiser Aluminum Corporation (KALU) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARMP and KALU?
Over the past 3 years, ARMP and KALU moved with a correlation of 0.30, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.30 over 3 years. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1348.3 %².
Among the 10 assets we track against ARMP, KALU ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ARMP outperformed by 18.7 percentage points (+122.5% for ARMP against +103.8% for KALU). One caveat on sizing: ARMP is 2.0 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.
ARMP vs KALU: side by side
| ARMP (Armata Pharmaceuticals, Inc.) | KALU (Kaiser Aluminum Corporation) | |
|---|---|---|
| 1-year return | +122.5% | +103.8% |
| 5-year return | +48.0% | +51.7% |
| Volatility (ann.) | 95.4% | 46.6% |
| Beta vs S&P 500 | 0.63 | 1.72 |
| Max drawdown (3Y) | -78.5% | -48.9% |
| Market cap | $0.2B | $2.6B |
| P/E (trailing) | – | 11.6 |
| Dividend yield | 0.00% | 1.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARMP | KALU |
|---|---|---|
| 2022 | -77.4% | -16.2% |
| 2023 | +161.3% | -2.1% |
| 2024 | -42.9% | +2.7% |
| 2025 | +239.5% | +70.1% |
| 2026 | -13.5% | +38.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARMP and KALU good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARMP and KALU?
The ARMP/KALU correlation stands at 0.30 on a 3-year window (1 year: 0.51, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is KALU a good diversifier for ARMP?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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.
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Related comparisons
Hubs: ARMP correlations · KALU correlations
