ALRS vs MGPI: Correlation
Alerus Financial Corporation (ALRS) and MGP Ingredients, Inc. (MGPI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and MGPI?
On 3 years of weekly data the ALRS/MGPI correlation comes out at 0.51, moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.51). The 5-year figure is 0.44, and annualized covariance runs at 641.0 %².
Within ALRS's tracked universe of 16 assets, MGPI comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALRS outperformed by 97.2 percentage points (+53.2% for ALRS against -44.0% for MGPI).
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 MGPI: side by side
| ALRS (Alerus Financial Corporation) | MGPI (MGP Ingredients, Inc.) | |
|---|---|---|
| 1-year return | +53.2% | -44.0% |
| 5-year return | +33.2% | -73.6% |
| Volatility (ann.) | 31.4% | 40.4% |
| Beta vs S&P 500 | 0.88 | 0.75 |
| Max drawdown (3Y) | -32.5% | -86.5% |
| Market cap | $0.8B | $0.3B |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 2.56% | 2.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALRS | MGPI |
|---|---|---|
| 2022 | -17.9% | +25.8% |
| 2023 | -0.2% | -7.0% |
| 2024 | -10.7% | -59.8% |
| 2025 | +21.7% | -37.3% |
| 2026 | +50.0% | -31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and MGPI good diversifiers for each other?
To a limited degree. At 0.51 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 MGPI?
The ALRS/MGPI correlation stands at 0.51 on a 3-year window (1 year: 0.41, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is MGPI a good diversifier for ALRS?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 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-mgpi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alrs-vs-mgpi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALRS correlations · MGPI correlations
