ALRS vs AOMR: Correlation
How closely do Alerus Financial Corporation (ALRS) and Angel Oak Mortgage REIT, Inc. (AOMR) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and AOMR?
On 3 years of weekly data the ALRS/AOMR correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.53 over 3. The 5-year figure is 0.31, and annualized covariance runs at 468.9 %².
By 3-year correlation, AOMR places #6 of the 16 assets tracked against ALRS. The last year tells two different stories: ALRS led by 52.3 percentage points, +53.2% for ALRS against +0.9% for AOMR.
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.
ALRS vs AOMR: side by side
| ALRS (Alerus Financial Corporation) | AOMR (Angel Oak Mortgage REIT, Inc.) | |
|---|---|---|
| 1-year return | +53.2% | +0.9% |
| 5-year return | +33.2% | -9.4% |
| Volatility (ann.) | 31.4% | 28.0% |
| Beta vs S&P 500 | 0.88 | 0.54 |
| Max drawdown (3Y) | -32.5% | -37.2% |
| Market cap | $0.8B | $0.2B |
| P/E (trailing) | 30.8 | 11.3 |
| Dividend yield | 2.56% | 15.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALRS | AOMR |
|---|---|---|
| 2022 | -17.9% | -67.3% |
| 2023 | -0.2% | +159.9% |
| 2024 | -10.7% | -1.9% |
| 2025 | +21.7% | +6.2% |
| 2026 | +50.0% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and AOMR good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ALRS and AOMR?
The ALRS/AOMR correlation stands at 0.53 on a 3-year window (1 year: 0.47, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is AOMR a good diversifier for ALRS?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 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/alrs-vs-aomr.json
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Related comparisons
Hubs: ALRS correlations · AOMR correlations
