ALRS vs NVRI: Correlation
Measured on weekly returns over the past three years, Alerus Financial Corporation (ALRS) and Enviri Corporation (NVRI) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and NVRI?
Over the past 3 years, ALRS and NVRI moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 754.8 %².
By 3-year correlation, NVRI places #9 of the 16 assets tracked against ALRS. Their recent paths diverged sharply: over the last 12 months NVRI outperformed by 44.8 percentage points (+53.2% for ALRS against +98.0% for NVRI). Note the risk asymmetry: NVRI runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NVRI: side by side
| ALRS (Alerus Financial Corporation) | NVRI (Enviri Corporation) | |
|---|---|---|
| 1-year return | +53.2% | +98.0% |
| 5-year return | +33.2% | +22.4% |
| Volatility (ann.) | 31.4% | 49.8% |
| Beta vs S&P 500 | 0.88 | 1.20 |
| Max drawdown (3Y) | -32.5% | -60.7% |
| Market cap | $0.8B | $0.6B |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 2.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALRS | NVRI |
|---|---|---|
| 2022 | -17.9% | -62.4% |
| 2023 | -0.2% | +43.1% |
| 2024 | -10.7% | -14.4% |
| 2025 | +21.7% | +132.7% |
| 2026 | +50.0% | +25.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and NVRI good diversifiers for each other?
Reasonably. At 0.48, ALRS and NVRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALRS and NVRI?
As of 2026-08-27, the correlation of weekly returns between ALRS and NVRI is 0.48 over 3 years, 0.16 over 1 year and 0.31 over 5 years.
Is NVRI a good diversifier for ALRS?
Reasonably. At 0.48, ALRS and NVRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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/alrs-vs-nvri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alrs-vs-nvri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALRS correlations · NVRI correlations
