AGX vs GURE: Correlation
Measured on weekly returns over the past three years, Argan, Inc. (AGX) and Gulf Resources, Inc. (GURE) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGX and GURE?
On 3 years of weekly data the AGX/GURE correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.24). The 5-year figure is -0.19, and annualized covariance runs at -1880.2 %².
Out of 11 assets tracked against AGX, GURE lands near the bottom at #10. The last year tells two different stories: AGX led by 156.2 percentage points, +103.7% for AGX against -52.5% for GURE. Note the risk asymmetry: GURE runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AGX vs GURE: side by side
| AGX (Argan, Inc.) | GURE (Gulf Resources, Inc.) | |
|---|---|---|
| 1-year return | +103.7% | -52.5% |
| 5-year return | +1008.1% | -92.1% |
| Volatility (ann.) | 55.9% | 137.7% |
| Beta vs S&P 500 | 0.92 | -0.30 |
| Max drawdown (3Y) | -43.7% | -88.1% |
| Market cap | $6.4B | – |
| P/E (trailing) | 40.4 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGX | GURE |
|---|---|---|
| 2022 | -2.0% | -28.6% |
| 2023 | +30.2% | -46.6% |
| 2024 | +198.3% | -65.5% |
| 2025 | +130.6% | -35.1% |
| 2026 | +47.2% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGX and GURE good diversifiers for each other?
Yes. With a correlation of -0.24, AGX and GURE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGX and GURE?
The AGX/GURE correlation stands at -0.24 on a 3-year window (1 year: -0.38, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is GURE a good diversifier for AGX?
Yes. With a correlation of -0.24, AGX and GURE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/agx-vs-gure.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agx-vs-gure/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGX correlations · GURE correlations
