AROW vs PRK: Correlation
Measured on weekly returns over the past three years, Arrow Financial Corporation (AROW) and Park National Corporation (PRK) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AROW and PRK?
On 3 years of weekly data the AROW/PRK correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.75 over 1 year against 0.82 over 3. The 5-year figure is 0.75, and annualized covariance runs at 700.9 %².
By 3-year correlation, PRK places #4 of the 11 assets tracked against AROW. Correlation aside, the last 12 months split them widely, with AROW ahead by 17.5 points (+34.7% versus +17.2%).
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 PRK: side by side
| AROW (Arrow Financial Corporation) | PRK (Park National Corporation) | |
|---|---|---|
| 1-year return | +34.7% | +17.2% |
| 5-year return | +32.7% | +98.6% |
| Volatility (ann.) | 30.3% | 28.2% |
| Beta vs S&P 500 | 0.73 | 0.78 |
| Max drawdown (3Y) | -29.9% | -30.4% |
| Market cap | $0.7B | $3.6B |
| P/E (trailing) | 12.3 | 17.7 |
| Dividend yield | 3.10% | 2.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AROW | PRK |
|---|---|---|
| 2022 | +2.3% | +6.1% |
| 2023 | -13.4% | -2.0% |
| 2024 | +7.2% | +33.0% |
| 2025 | +13.9% | -8.1% |
| 2026 | +25.0% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AROW and PRK good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AROW and PRK?
The AROW/PRK correlation stands at 0.82 on a 3-year window (1 year: 0.75, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is PRK a good diversifier for AROW?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/arow-vs-prk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arow-vs-prk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AROW correlations · PRK correlations
