COOT vs PRAX: Correlation
Australian Oilseeds Holdings Limited (COOT) and Praxis Precision Medicines, Inc. (PRAX) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOT and PRAX?
On 3 years of weekly data the COOT/PRAX correlation comes out at 0.68, strong. Lately the two have moved closer together, with the 1-year correlation at 0.88 versus 0.68 over 3 years. The 5-year figure is 0.60, and annualized covariance runs at 17158.7 %².
PRAX is one of the assets that tracks COOT most closely: it ranks #1 out of the 10 assets we track against COOT. The last year tells two different stories: PRAX led by 709.2 percentage points, -25.2% for COOT against +684.0% for PRAX.
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 PRAX: side by side
| COOT (Australian Oilseeds Holdings Limited) | PRAX (Praxis Precision Medicines, Inc.) | |
|---|---|---|
| 1-year return | -25.2% | +684.0% |
| 5-year return | -95.4% | +28.6% |
| Volatility (ann.) | 146.6% | 170.9% |
| Beta vs S&P 500 | 0.13 | 2.13 |
| Max drawdown (3Y) | -97.0% | -68.6% |
| Market cap | – | $10.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COOT | PRAX |
|---|---|---|
| 2022 | +2.8% | -87.9% |
| 2023 | +10.1% | -37.6% |
| 2024 | -89.7% | +245.4% |
| 2025 | -56.7% | +283.0% |
| 2026 | -10.7% | +24.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOT and PRAX good diversifiers for each other?
Only partially. A correlation of 0.68 means COOT and PRAX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COOT and PRAX?
As of 2026-08-27, the correlation of weekly returns between COOT and PRAX is 0.68 over 3 years, 0.88 over 1 year and 0.60 over 5 years.
Is PRAX a good diversifier for COOT?
Only partially. A correlation of 0.68 means COOT and PRAX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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-prax.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coot-vs-prax/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COOT correlations · PRAX correlations
