COOT vs SHMD: Correlation
Measured on weekly returns over the past three years, Australian Oilseeds Holdings Limited (COOT) and SCHMID Group N.V. - Class A (SHMD) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOT and SHMD?
Over the past 3 years, COOT and SHMD moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 6431.6 %².
By 3-year correlation, SHMD places #4 of the 10 assets tracked against COOT. Correlation aside, the last 12 months split them widely, with SHMD ahead by 54.0 points (-25.2% versus +28.8%). One caveat on sizing: COOT is 1.5 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.
COOT vs SHMD: side by side
| COOT (Australian Oilseeds Holdings Limited) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | -25.2% | +28.8% |
| 5-year return | -95.4% | n/a |
| Volatility (ann.) | 146.6% | 96.9% |
| Beta vs S&P 500 | 0.13 | 0.77 |
| Max drawdown (3Y) | -97.0% | -69.6% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COOT | SHMD |
|---|---|---|
| 2022 | +2.8% | – |
| 2023 | +10.1% | – |
| 2024 | -89.7% | – |
| 2025 | -56.7% | +101.1% |
| 2026 | -10.7% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOT and SHMD good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between COOT and SHMD?
As of 2026-08-27, the correlation of weekly returns between COOT and SHMD is 0.43 over 3 years, 0.52 over 1 year and n/a over 5 years.
Is SHMD a good diversifier for COOT?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/coot-vs-shmd.json
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Related comparisons
Hubs: COOT correlations · SHMD correlations
