AROW vs DOLE: Correlation
How closely do Arrow Financial Corporation (AROW) and Dole plc (DOLE) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AROW and DOLE?
On 3 years of weekly data the AROW/DOLE correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.47 over 3. The 5-year figure is 0.38, and annualized covariance runs at 342.4 %².
Among the 11 assets we track against AROW, DOLE ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AROW outperformed by 40.2 percentage points (+34.7% for AROW against -5.5% for DOLE).
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.
AROW vs DOLE: side by side
| AROW (Arrow Financial Corporation) | DOLE (Dole plc) | |
|---|---|---|
| 1-year return | +34.7% | -5.5% |
| 5-year return | +32.7% | -3.9% |
| Volatility (ann.) | 30.3% | 24.2% |
| Beta vs S&P 500 | 0.73 | 0.28 |
| Max drawdown (3Y) | -29.9% | -27.7% |
| Market cap | $0.7B | $1.3B |
| P/E (trailing) | 12.3 | 18.5 |
| Dividend yield | 3.10% | 2.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AROW | DOLE |
|---|---|---|
| 2022 | +2.3% | -25.3% |
| 2023 | -13.4% | +30.8% |
| 2024 | +7.2% | +12.8% |
| 2025 | +13.9% | +12.0% |
| 2026 | +25.0% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AROW and DOLE good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AROW and DOLE?
The AROW/DOLE correlation stands at 0.47 on a 3-year window (1 year: 0.48, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is DOLE a good diversifier for AROW?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arow-vs-dole.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arow-vs-dole/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AROW correlations · DOLE correlations
