OM vs OUST: Correlation
Measured on weekly returns over the past three years, Outset Medical, Inc. (OM) and Ouster, Inc. (OUST) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OM and OUST?
Over the past 3 years, OM and OUST moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 4641.3 %².
Among the 10 assets we track against OM, OUST ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OUST ahead by 91.4 points (-70.7% versus +20.7%).
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.
OM vs OUST: side by side
| OM (Outset Medical, Inc.) | OUST (Ouster, Inc.) | |
|---|---|---|
| 1-year return | -70.7% | +20.7% |
| 5-year return | -99.4% | -56.2% |
| Volatility (ann.) | 112.6% | 102.7% |
| Beta vs S&P 500 | 1.98 | 2.63 |
| Max drawdown (3Y) | -98.5% | -64.0% |
| Market cap | $0.1B | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OM | OUST |
|---|---|---|
| 2022 | -44.0% | -83.4% |
| 2023 | -79.0% | -11.1% |
| 2024 | -79.5% | +59.3% |
| 2025 | -77.7% | +77.1% |
| 2026 | +10.2% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OM and OUST good diversifiers for each other?
Reasonably. At 0.40, OM and OUST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OM and OUST?
As of 2026-08-27, the correlation of weekly returns between OM and OUST is 0.40 over 3 years, 0.48 over 1 year and 0.38 over 5 years.
Is OUST a good diversifier for OM?
Reasonably. At 0.40, OM and OUST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/om-vs-oust.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/om-vs-oust/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OM correlations · OUST correlations
