AREN vs SOWG: Correlation
The Arena Group Holdings, Inc. (AREN) and Sow Good Inc. (SOWG) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and SOWG?
Across a 3-year window, the weekly returns of AREN and SOWG correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. Stretching to 5 years gives -0.20, with an annualized covariance of -5981.4 %².
Among the 22 assets we track against AREN, SOWG sits near the bottom by co-movement, at rank #18. Over the last 12 months SOWG came out ahead by 14.3 percentage points (-84.8% against -70.5%).
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.
AREN vs SOWG: side by side
| AREN (The Arena Group Holdings, Inc.) | SOWG (Sow Good Inc.) | |
|---|---|---|
| 1-year return | -84.8% | -70.5% |
| 5-year return | -93.0% | -96.6% |
| Volatility (ann.) | 157.6% | 164.0% |
| Beta vs S&P 500 | 0.49 | 1.93 |
| Max drawdown (3Y) | -91.7% | -99.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREN | SOWG |
|---|---|---|
| 2022 | -24.6% | +11.1% |
| 2023 | -77.6% | +302.0% |
| 2024 | -43.7% | -79.7% |
| 2025 | +198.5% | -83.3% |
| 2026 | -76.5% | -40.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and SOWG good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AREN and SOWG?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.18 over the last year and -0.20 over 5 years.
Is SOWG a good diversifier for AREN?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/aren-vs-sowg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aren-vs-sowg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AREN correlations · SOWG correlations
