COOT vs IIIN: Correlation
How closely do Australian Oilseeds Holdings Limited (COOT) and Insteel Industries, Inc. (IIIN) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOT and IIIN?
On 3 years of weekly data the COOT/IIIN correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.24). The 5-year figure is -0.18, and annualized covariance runs at -1393.5 %².
Out of 10 assets tracked against COOT, IIIN lands near the bottom at #8. The trailing year gives IIIN the advantage: -25.2% versus -18.2%, a 7.0-point spread. Risk is not evenly split, since COOT carries 3.7 times the volatility of the other side.
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.
COOT vs IIIN: side by side
| COOT (Australian Oilseeds Holdings Limited) | IIIN (Insteel Industries, Inc.) | |
|---|---|---|
| 1-year return | -25.2% | -18.2% |
| 5-year return | -95.4% | +6.5% |
| Volatility (ann.) | 146.6% | 39.5% |
| Beta vs S&P 500 | 0.13 | 0.99 |
| Max drawdown (3Y) | -97.0% | -37.0% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 0.00% | 0.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COOT | IIIN |
|---|---|---|
| 2022 | +2.8% | -25.6% |
| 2023 | +10.1% | +50.0% |
| 2024 | -89.7% | -26.8% |
| 2025 | -56.7% | +21.5% |
| 2026 | -10.7% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOT and IIIN good diversifiers for each other?
Yes. With a correlation of -0.24, COOT and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COOT and IIIN?
As of 2026-08-27, the correlation of weekly returns between COOT and IIIN is -0.24 over 3 years, -0.37 over 1 year and -0.18 over 5 years.
Is IIIN a good diversifier for COOT?
Yes. With a correlation of -0.24, COOT and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/coot-vs-iiin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coot-vs-iiin/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COOT correlations · IIIN correlations
