AFRI vs CARS: Correlation
Measured on weekly returns over the past three years, Forafric Global PLC (AFRI) and Cars.com Inc. (CARS) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFRI and CARS?
On 3 years of weekly data the AFRI/CARS correlation comes out at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.16, and annualized covariance runs at 308.8 %².
Within AFRI's tracked universe of 11 assets, CARS comes in at #4 by 3-year correlation. The last year tells two different stories: AFRI led by 35.0 percentage points, +24.4% for AFRI against -10.6% for CARS. One caveat on sizing: CARS is 1.9 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.
AFRI vs CARS: side by side
| AFRI (Forafric Global PLC) | CARS (Cars.com Inc.) | |
|---|---|---|
| 1-year return | +24.4% | -10.6% |
| 5-year return | +9.0% | -7.8% |
| Volatility (ann.) | 21.7% | 42.1% |
| Beta vs S&P 500 | 0.33 | 1.42 |
| Max drawdown (3Y) | -34.3% | -63.4% |
| Market cap | $0.3B | $0.6B |
| P/E (trailing) | – | 21.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFRI | CARS |
|---|---|---|
| 2022 | +9.7% | -14.4% |
| 2023 | -4.6% | +37.8% |
| 2024 | -3.2% | -8.6% |
| 2025 | +7.6% | -29.6% |
| 2026 | -1.1% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFRI and CARS good diversifiers for each other?
Reasonably. At 0.34, AFRI and CARS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AFRI and CARS?
The AFRI/CARS correlation stands at 0.34 on a 3-year window (1 year: 0.36, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is CARS a good diversifier for AFRI?
Reasonably. At 0.34, AFRI and CARS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/afri-vs-cars.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afri-vs-cars/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFRI correlations · CARS correlations
