ALRS vs FRPH: Correlation
Alerus Financial Corporation (ALRS) and FRP Holdings, Inc. (FRPH) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and FRPH?
Across a 3-year window, the weekly returns of ALRS and FRPH correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.44, with an annualized covariance of 334.3 %².
By 3-year correlation, FRPH places #7 of the 16 assets tracked against ALRS. Their recent paths diverged sharply: over the last 12 months ALRS outperformed by 67.1 percentage points (+53.2% for ALRS against -13.9% for FRPH). One caveat on sizing: ALRS is 1.6 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.
ALRS vs FRPH: side by side
| ALRS (Alerus Financial Corporation) | FRPH (FRP Holdings, Inc.) | |
|---|---|---|
| 1-year return | +53.2% | -13.9% |
| 5-year return | +33.2% | -22.9% |
| Volatility (ann.) | 31.4% | 20.1% |
| Beta vs S&P 500 | 0.88 | 0.38 |
| Max drawdown (3Y) | -32.5% | -36.2% |
| Market cap | $0.8B | $0.4B |
| P/E (trailing) | 30.8 | 2223.0 |
| Dividend yield | 2.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALRS | FRPH |
|---|---|---|
| 2022 | -17.9% | -6.8% |
| 2023 | -0.2% | +16.7% |
| 2024 | -10.7% | -2.6% |
| 2025 | +21.7% | -25.6% |
| 2026 | +50.0% | -2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and FRPH good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ALRS and FRPH?
As of 2026-08-27, the correlation of weekly returns between ALRS and FRPH is 0.53 over 3 years, 0.32 over 1 year and 0.44 over 5 years.
Is FRPH a good diversifier for ALRS?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
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.
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Related comparisons
Hubs: ALRS correlations · FRPH correlations
