ARBB vs TLF: Correlation
How closely do ARB IOT Group Limited (ARBB) and Tandy Leather Factory, Inc. (TLF) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARBB and TLF?
On 3 years of weekly data the ARBB/TLF correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.08 over 1 year against -0.18 over 3. The 5-year figure is n/a, and annualized covariance runs at -796.3 %².
TLF is close to the least connected end of ARBB's tracked universe, ranking #10 of 12. The trailing year gives TLF the advantage: +0.8% versus +12.0%, a 11.2-point spread. Note the risk asymmetry: ARBB runs 6.3 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.
ARBB vs TLF: side by side
| ARBB (ARB IOT Group Limited) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | +0.8% | +12.0% |
| 5-year return | n/a | +11.5% |
| Volatility (ann.) | 167.6% | 26.5% |
| Beta vs S&P 500 | 0.32 | 0.23 |
| Max drawdown (3Y) | -90.3% | -34.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARBB | TLF |
|---|---|---|
| 2022 | – | -17.5% |
| 2023 | – | +0.2% |
| 2024 | -80.7% | +12.4% |
| 2025 | -21.7% | -20.9% |
| 2026 | -26.0% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARBB and TLF good diversifiers for each other?
Yes. With a correlation of -0.18, ARBB and TLF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARBB and TLF?
The ARBB/TLF correlation stands at -0.18 on a 3-year window (1 year: -0.08, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TLF a good diversifier for ARBB?
Yes. With a correlation of -0.18, ARBB and TLF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/arbb-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arbb-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARBB correlations · TLF correlations
