RIME vs WAT: Correlation
Algorhythm Holdings, Inc. (RIME) and Waters Corporation (WAT) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIME and WAT?
On 3 years of weekly data the RIME/WAT correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.22). The 5-year figure is -0.18, and annualized covariance runs at -1557.7 %².
Among the 62 assets we track against RIME, WAT ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAT outperformed by 129.6 percentage points (-86.6% for RIME against +43.0% for WAT). Risk is not evenly split, since RIME carries 5.6 times the volatility of the other side.
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.
RIME vs WAT: side by side
| RIME (Algorhythm Holdings, Inc.) | WAT (Waters Corporation) | |
|---|---|---|
| 1-year return | -86.6% | +43.0% |
| 5-year return | -100.0% | +2.0% |
| Volatility (ann.) | 197.4% | 35.3% |
| Beta vs S&P 500 | -0.17 | 0.89 |
| Max drawdown (3Y) | -99.9% | -33.4% |
| Market cap | – | $41.4B |
| P/E (trailing) | – | 105.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | RIME | WAT |
|---|---|---|
| 2022 | -43.3% | -8.1% |
| 2023 | -77.1% | -3.9% |
| 2024 | -91.1% | +12.7% |
| 2025 | -94.4% | +2.4% |
| 2026 | -72.8% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIME and WAT good diversifiers for each other?
Yes. With a correlation of -0.22, RIME and WAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RIME and WAT?
As of 2026-08-27, the correlation of weekly returns between RIME and WAT is -0.22 over 3 years, -0.45 over 1 year and -0.18 over 5 years.
Is WAT a good diversifier for RIME?
Yes. With a correlation of -0.22, RIME and WAT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: RIME correlations · WAT correlations
