OABI vs RCEL: Correlation
Measured on weekly returns over the past three years, OmniAb, Inc. (OABI) and Avita Medical, Inc. (RCEL) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OABI and RCEL?
Over the past 3 years, OABI and RCEL moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 2822.6 %².
Within OABI's tracked universe of 12 assets, RCEL comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OABI ahead by 58.5 points (+186.3% versus +127.8%).
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.
OABI vs RCEL: side by side
| OABI (OmniAb, Inc.) | RCEL (Avita Medical, Inc.) | |
|---|---|---|
| 1-year return | +186.3% | +127.8% |
| 5-year return | -52.8% | -48.7% |
| Volatility (ann.) | 67.6% | 91.0% |
| Beta vs S&P 500 | 1.30 | 2.01 |
| Max drawdown (3Y) | -81.3% | -82.1% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OABI | RCEL |
|---|---|---|
| 2022 | -64.0% | -44.9% |
| 2023 | +71.4% | +107.9% |
| 2024 | -42.6% | -6.7% |
| 2025 | -47.7% | -73.0% |
| 2026 | +149.2% | +199.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OABI and RCEL good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OABI and RCEL?
The OABI/RCEL correlation stands at 0.46 on a 3-year window (1 year: 0.52, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is RCEL a good diversifier for OABI?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/oabi-vs-rcel.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oabi-vs-rcel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OABI correlations · RCEL correlations
