AREC vs PNBK: Correlation
American Resources Corporation (AREC) and Patriot National Bancorp Inc. (PNBK) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREC and PNBK?
Across a 3-year window, the weekly returns of AREC and PNBK correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (-0.12) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.36, with an annualized covariance of 7077.7 %².
Among the 16 assets we track against AREC, PNBK ranks #6 by 3-year correlation. The last year tells two different stories: AREC led by 50.4 percentage points, +18.3% for AREC against -32.1% for PNBK.
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 PNBK: side by side
| AREC (American Resources Corporation) | PNBK (Patriot National Bancorp Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -32.1% |
| 5-year return | +18.9% | -89.0% |
| Volatility (ann.) | 141.0% | 112.5% |
| Beta vs S&P 500 | 1.27 | 0.76 |
| Max drawdown (3Y) | -78.1% | -89.4% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREC | PNBK |
|---|---|---|
| 2022 | -26.7% | -31.8% |
| 2023 | +12.9% | -63.9% |
| 2024 | -32.2% | -49.3% |
| 2025 | +145.5% | -6.2% |
| 2026 | +4.0% | -43.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREC and PNBK good diversifiers for each other?
Reasonably. At 0.45, AREC and PNBK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AREC and PNBK?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with -0.12 over the last year and 0.36 over 5 years.
Is PNBK a good diversifier for AREC?
Reasonably. At 0.45, AREC and PNBK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-pnbk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arec-vs-pnbk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AREC correlations · PNBK correlations
