ALRS vs ORRF: Correlation
How closely do Alerus Financial Corporation (ALRS) and Orrstown Financial Services, Inc. (ORRF) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and ORRF?
Over the past 3 years, ALRS and ORRF moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 675.6 %².
Few assets follow ALRS as closely as ORRF, which ranks #3 of 16 tracked partners. Their recent paths diverged sharply: over the last 12 months ALRS outperformed by 28.6 percentage points (+53.2% for ALRS against +24.6% for ORRF).
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 ORRF: side by side
| ALRS (Alerus Financial Corporation) | ORRF (Orrstown Financial Services, Inc.) | |
|---|---|---|
| 1-year return | +53.2% | +24.6% |
| 5-year return | +33.2% | +111.1% |
| Volatility (ann.) | 31.4% | 28.5% |
| Beta vs S&P 500 | 0.88 | 0.84 |
| Max drawdown (3Y) | -32.5% | -35.9% |
| Market cap | $0.8B | $0.8B |
| P/E (trailing) | 30.8 | 9.5 |
| Dividend yield | 2.56% | 2.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALRS | ORRF |
|---|---|---|
| 2022 | -17.9% | -5.3% |
| 2023 | -0.2% | +32.3% |
| 2024 | -10.7% | +27.7% |
| 2025 | +21.7% | -0.0% |
| 2026 | +50.0% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and ORRF good diversifiers for each other?
To a limited degree. At 0.75 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 ORRF?
As of 2026-08-27, the correlation of weekly returns between ALRS and ORRF is 0.75 over 3 years, 0.72 over 1 year and 0.63 over 5 years.
Is ORRF a good diversifier for ALRS?
To a limited degree. At 0.75 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 0.75 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-orrf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alrs-vs-orrf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALRS correlations · ORRF correlations
