OPTT vs UMAC: Correlation
How closely do Ocean Power Technologies, Inc. (OPTT) and Unusual Machines, Inc. (UMAC) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTT and UMAC?
Over the past 3 years, OPTT and UMAC moved with a correlation of 0.65, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.65 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 30775.2 %².
Within OPTT's tracked universe of 10 assets, UMAC comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UMAC ahead by 224.0 points (-66.9% versus +157.1%).
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 UMAC: side by side
| OPTT (Ocean Power Technologies, Inc.) | UMAC (Unusual Machines, Inc.) | |
|---|---|---|
| 1-year return | -66.9% | +157.1% |
| 5-year return | -91.7% | n/a |
| Volatility (ann.) | 176.9% | 248.9% |
| Beta vs S&P 500 | 2.48 | 3.43 |
| Max drawdown (3Y) | -91.3% | -75.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPTT | UMAC |
|---|---|---|
| 2022 | -69.6% | – |
| 2023 | -28.9% | – |
| 2024 | +218.8% | – |
| 2025 | -70.6% | -24.3% |
| 2026 | -40.4% | +106.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTT and UMAC good diversifiers for each other?
Only partially. A correlation of 0.65 means OPTT and UMAC 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 UMAC?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.28 over the last year and n/a over 5 years.
Is UMAC a good diversifier for OPTT?
Only partially. A correlation of 0.65 means OPTT and UMAC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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/optt-vs-umac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/optt-vs-umac/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OPTT correlations · UMAC correlations
