OUST vs QS: Correlation
Ouster, Inc. (OUST) and QuantumScape Corporation (QS) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OUST and QS?
Over the past 3 years, OUST and QS moved with a correlation of 0.51, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.62 versus 0.51 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 4763.4 %².
In OUST's tracked universe of 14 assets, QS sits right near the top at #2. The last year tells two different stories: OUST led by 47.3 percentage points, +20.7% for OUST against -26.6% for QS.
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.
OUST vs QS: side by side
| OUST (Ouster, Inc.) | QS (QuantumScape Corporation) | |
|---|---|---|
| 1-year return | +20.7% | -26.6% |
| 5-year return | -56.2% | -72.4% |
| Volatility (ann.) | 102.7% | 90.7% |
| Beta vs S&P 500 | 2.63 | 2.17 |
| Max drawdown (3Y) | -64.0% | -73.5% |
| Market cap | $2.6B | $3.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OUST | QS |
|---|---|---|
| 2022 | -83.4% | -74.4% |
| 2023 | -11.1% | +22.6% |
| 2024 | +59.3% | -25.3% |
| 2025 | +77.1% | +100.8% |
| 2026 | +68.9% | -43.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OUST and QS good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OUST and QS?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.62 over the last year and 0.47 over 5 years.
Is QS a good diversifier for OUST?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/oust-vs-qs.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: OUST correlations · QS correlations
