ALCO vs BHB: Correlation
Alico, Inc. (ALCO) and Bar Harbor Bankshares, Inc. (BHB) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALCO and BHB?
On 3 years of weekly data the ALCO/BHB correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 364.6 %².
Few assets follow ALCO as closely as BHB, which ranks #1 of 11 tracked partners. Over the last 12 months BHB came out ahead by 8.5 percentage points (+17.7% against +26.2%).
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.
ALCO vs BHB: side by side
| ALCO (Alico, Inc.) | BHB (Bar Harbor Bankshares, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | +26.2% |
| 5-year return | +16.5% | +75.3% |
| Volatility (ann.) | 26.2% | 28.3% |
| Beta vs S&P 500 | 0.35 | 0.67 |
| Max drawdown (3Y) | -19.6% | -27.1% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | 199.1 | 13.3 |
| Dividend yield | 0.49% | 3.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALCO | BHB |
|---|---|---|
| 2022 | -32.6% | +14.8% |
| 2023 | +22.8% | -4.5% |
| 2024 | -10.2% | +8.6% |
| 2025 | +41.0% | +5.7% |
| 2026 | +9.9% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALCO and BHB good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALCO and BHB?
The ALCO/BHB correlation stands at 0.49 on a 3-year window (1 year: 0.41, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is BHB a good diversifier for ALCO?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alco-vs-bhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alco-vs-bhb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALCO correlations · BHB correlations
