ARQ vs BBW: Correlation
How closely do Arq, Inc. (ARQ) and Build-A-Bear Workshop, Inc. (BBW) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARQ and BBW?
Across a 3-year window, the weekly returns of ARQ and BBW correlate at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.36). Stretching to 5 years gives 0.24, with an annualized covariance of 1367.6 %².
Among the 15 assets we track against ARQ, BBW ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BBW outperformed by 20.7 percentage points (-71.1% for ARQ against -50.4% for BBW). Risk is not evenly split, since ARQ carries 1.6 times the volatility of the other side.
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.
ARQ vs BBW: side by side
| ARQ (Arq, Inc.) | BBW (Build-A-Bear Workshop, Inc.) | |
|---|---|---|
| 1-year return | -71.1% | -50.4% |
| 5-year return | -67.7% | +86.4% |
| Volatility (ann.) | 78.9% | 48.4% |
| Beta vs S&P 500 | 1.85 | 0.89 |
| Max drawdown (3Y) | -79.6% | -61.7% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARQ | BBW |
|---|---|---|
| 2022 | -63.3% | +22.1% |
| 2023 | +22.6% | +2.8% |
| 2024 | +154.0% | +105.6% |
| 2025 | -56.8% | +35.4% |
| 2026 | -32.7% | -53.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARQ and BBW good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARQ and BBW?
The ARQ/BBW correlation stands at 0.36 on a 3-year window (1 year: 0.21, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is BBW a good diversifier for ARQ?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARQ correlations · BBW correlations
