OPTT vs PASG: Correlation
Measured on weekly returns over the past three years, Ocean Power Technologies, Inc. (OPTT) and Passage Bio, Inc. (PASG) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTT and PASG?
Over the past 3 years, OPTT and PASG moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 12434.7 %².
Within OPTT's tracked universe of 10 assets, PASG comes in at #5 by 3-year correlation. The last year tells two different stories: PASG led by 28.4 percentage points, -66.9% for OPTT against -38.5% for PASG.
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.
OPTT vs PASG: side by side
| OPTT (Ocean Power Technologies, Inc.) | PASG (Passage Bio, Inc.) | |
|---|---|---|
| 1-year return | -66.9% | -38.5% |
| 5-year return | -91.7% | -98.1% |
| Volatility (ann.) | 176.9% | 128.4% |
| Beta vs S&P 500 | 2.48 | 2.11 |
| Max drawdown (3Y) | -91.3% | -88.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPTT | PASG |
|---|---|---|
| 2022 | -69.6% | -78.3% |
| 2023 | -28.9% | -26.8% |
| 2024 | +218.8% | -43.9% |
| 2025 | -70.6% | +4.1% |
| 2026 | -40.4% | -63.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTT and PASG good diversifiers for each other?
Only partially. A correlation of 0.55 means OPTT and PASG 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 OPTT and PASG?
The OPTT/PASG correlation stands at 0.55 on a 3-year window (1 year: 0.46, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is PASG a good diversifier for OPTT?
Only partially. A correlation of 0.55 means OPTT and PASG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/optt-vs-pasg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/optt-vs-pasg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OPTT correlations · PASG correlations
