Aquarius is the 12th sign of the zodiac and is part of the water constellations. It has historically been associated with water and in ancient times rain. It is one of the most ancient constellations and has been associated with Zeus pouring the waters of life from the heavens.
Another mythology associates the constellation with a global flood which is rooted in old Sumerian stories and may be the basis for the story of Noah and his ark.
In ancient times the rising of Aquarius was associated with the rainy season and may be the reason it is associated with water.