ARBE vs AWR: Correlation
Measured on weekly returns over the past three years, Arbe Robotics Ltd. (ARBE) and American States Water Company (AWR) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARBE and AWR?
Across a 3-year window, the weekly returns of ARBE and AWR correlate at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -528.7 %².
Out of 14 assets tracked against ARBE, AWR lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with AWR ahead by 73.6 points (-52.1% versus +21.5%). One caveat on sizing: ARBE is 4.2 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.
ARBE vs AWR: side by side
| ARBE (Arbe Robotics Ltd.) | AWR (American States Water Company) | |
|---|---|---|
| 1-year return | -52.1% | +21.5% |
| 5-year return | -93.4% | +7.6% |
| Volatility (ann.) | 87.7% | 20.8% |
| Beta vs S&P 500 | 2.41 | 0.04 |
| Max drawdown (3Y) | -86.1% | -21.9% |
| Market cap | $0.1B | $3.5B |
| P/E (trailing) | – | 24.3 |
| Dividend yield | 0.00% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARBE | AWR |
|---|---|---|
| 2022 | -63.3% | -8.9% |
| 2023 | -36.1% | -11.4% |
| 2024 | -14.7% | -1.2% |
| 2025 | -36.6% | -4.3% |
| 2026 | -43.6% | +25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARBE and AWR good diversifiers for each other?
Yes. With a correlation of -0.29, ARBE and AWR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARBE and AWR?
As of 2026-08-27, the correlation of weekly returns between ARBE and AWR is -0.29 over 3 years, -0.33 over 1 year and -0.13 over 5 years.
Is AWR a good diversifier for ARBE?
Yes. With a correlation of -0.29, ARBE and AWR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arbe-vs-awr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arbe-vs-awr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARBE correlations · AWR correlations
