AREC vs AXR: Correlation
How closely do American Resources Corporation (AREC) and AMREP Corporation (AXR) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREC and AXR?
Over the past 3 years, AREC and AXR moved with a correlation of 0.41, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.41 over 3 years. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 2794.6 %².
By 3-year correlation, AXR places #7 of the 16 assets tracked against AREC. Over the last 12 months AREC came out ahead by 14.2 percentage points (+18.3% against +4.1%). One caveat on sizing: AREC is 2.9 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.
AREC vs AXR: side by side
| AREC (American Resources Corporation) | AXR (AMREP Corporation) | |
|---|---|---|
| 1-year return | +18.3% | +4.1% |
| 5-year return | +18.9% | +60.4% |
| Volatility (ann.) | 141.0% | 48.9% |
| Beta vs S&P 500 | 1.27 | 0.44 |
| Max drawdown (3Y) | -78.1% | -52.3% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | 12.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREC | AXR |
|---|---|---|
| 2022 | -26.7% | -24.0% |
| 2023 | +12.9% | +90.2% |
| 2024 | -32.2% | +42.9% |
| 2025 | +145.5% | -40.1% |
| 2026 | +4.0% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREC and AXR good diversifiers for each other?
Reasonably. At 0.41, AREC and AXR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AREC and AXR?
The AREC/AXR correlation stands at 0.41 on a 3-year window (1 year: 0.16, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is AXR a good diversifier for AREC?
Reasonably. At 0.41, AREC and AXR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/arec-vs-axr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arec-vs-axr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AREC correlations · AXR correlations
