AREC vs OVBC: Correlation
American Resources Corporation (AREC) and Ohio Valley Banc Corp. (OVBC) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREC and OVBC?
Over the past 3 years, AREC and OVBC moved with a correlation of 0.36, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.01 versus 0.36 over 3 years. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1622.1 %².
Among the 16 assets we track against AREC, OVBC ranks #10 by 3-year correlation. On 12-month performance OVBC holds a 9.5-point edge, +18.3% against +27.8%. Note the risk asymmetry: AREC runs 4.4 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.
AREC vs OVBC: side by side
| AREC (American Resources Corporation) | OVBC (Ohio Valley Banc Corp.) | |
|---|---|---|
| 1-year return | +18.3% | +27.8% |
| 5-year return | +18.9% | +98.0% |
| Volatility (ann.) | 141.0% | 32.1% |
| Beta vs S&P 500 | 1.27 | 0.12 |
| Max drawdown (3Y) | -78.1% | -26.2% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | 15.1 |
| Dividend yield | 0.00% | 2.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREC | OVBC |
|---|---|---|
| 2022 | -26.7% | -7.8% |
| 2023 | +12.9% | -9.3% |
| 2024 | -32.2% | +9.3% |
| 2025 | +145.5% | +70.0% |
| 2026 | +4.0% | +15.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREC and OVBC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AREC and OVBC?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.01 over the last year and 0.25 over 5 years.
Is OVBC a good diversifier for AREC?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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.
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Related comparisons
Hubs: AREC correlations · OVBC correlations
