ALG vs OFLX: Correlation
How closely do Alamo Group, Inc. (ALG) and Omega Flex, Inc. (OFLX) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and OFLX?
On 3 years of weekly data the ALG/OFLX correlation comes out at 0.56, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.69 versus 0.56 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 639.0 %².
Within ALG's tracked universe of 17 assets, OFLX comes in at #7 by 3-year correlation. Twelve-month performance is nearly a tie, at -24.0% for ALG and -20.5% for OFLX.
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.
ALG vs OFLX: side by side
| ALG (Alamo Group, Inc.) | OFLX (Omega Flex, Inc.) | |
|---|---|---|
| 1-year return | -24.0% | -20.5% |
| 5-year return | +9.2% | -79.8% |
| Volatility (ann.) | 30.3% | 37.6% |
| Beta vs S&P 500 | 0.83 | 0.94 |
| Max drawdown (3Y) | -36.3% | -68.3% |
| Market cap | $2.0B | $0.3B |
| P/E (trailing) | 19.8 | 23.1 |
| Dividend yield | 0.78% | 5.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | OFLX |
|---|---|---|
| 2022 | -3.3% | -25.6% |
| 2023 | +49.2% | -23.4% |
| 2024 | -11.1% | -38.9% |
| 2025 | -9.1% | -26.8% |
| 2026 | -1.7% | -6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and OFLX good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALG and OFLX?
The ALG/OFLX correlation stands at 0.56 on a 3-year window (1 year: 0.69, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is OFLX a good diversifier for ALG?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alg-vs-oflx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alg-vs-oflx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALG correlations · OFLX correlations
