ABBV vs AREN: Correlation
AbbVie (ABBV) and The Arena Group Holdings, Inc. (AREN) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABBV and AREN?
Across a 3-year window, the weekly returns of ABBV and AREN correlate at -0.32, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -1321.3 %².
Out of 34 assets tracked against ABBV, AREN lands near the bottom at #30. Their recent paths diverged sharply: over the last 12 months ABBV outperformed by 112.7 percentage points (+27.9% for ABBV against -84.8% for AREN). One caveat on sizing: AREN is 6.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABBV vs AREN: side by side
| ABBV (AbbVie) | AREN (The Arena Group Holdings, Inc.) | |
|---|---|---|
| 1-year return | +27.9% | -84.8% |
| 5-year return | +157.2% | -93.0% |
| Volatility (ann.) | 26.4% | 157.6% |
| Beta vs S&P 500 | 0.08 | 0.49 |
| Max drawdown (3Y) | -20.7% | -91.7% |
| Market cap | $456.2B | – |
| P/E (trailing) | 74.0 | 4.9 |
| Dividend yield | 2.60% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ABBV | AREN |
|---|---|---|
| 2022 | +24.0% | -24.6% |
| 2023 | -0.2% | -77.6% |
| 2024 | +18.9% | -43.7% |
| 2025 | +33.1% | +198.5% |
| 2026 | +15.7% | -76.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABBV and AREN good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between ABBV and AREN?
The ABBV/AREN correlation stands at -0.32 on a 3-year window (1 year: -0.38, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is AREN a good diversifier for ABBV?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/abbv-vs-aren.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/abbv-vs-aren/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABBV correlations · AREN correlations
