ARQ vs PACK: Correlation
Arq, Inc. (ARQ) and Ranpak Holdings Corp (PACK) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARQ and PACK?
Across a 3-year window, the weekly returns of ARQ and PACK correlate at 0.57, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.57). Stretching to 5 years gives 0.40, with an annualized covariance of 3364.6 %².
PACK is one of the assets that tracks ARQ most closely: it ranks #1 out of the 15 assets we track against ARQ. Their recent paths diverged sharply: over the last 12 months PACK outperformed by 64.2 percentage points (-71.1% for ARQ against -6.9% for PACK).
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 PACK: side by side
| ARQ (Arq, Inc.) | PACK (Ranpak Holdings Corp) | |
|---|---|---|
| 1-year return | -71.1% | -6.9% |
| 5-year return | -67.7% | -83.7% |
| Volatility (ann.) | 78.9% | 75.3% |
| Beta vs S&P 500 | 1.85 | 1.81 |
| Max drawdown (3Y) | -79.6% | -64.5% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARQ | PACK |
|---|---|---|
| 2022 | -63.3% | -84.6% |
| 2023 | +22.6% | +0.9% |
| 2024 | +154.0% | +18.2% |
| 2025 | -56.8% | -21.4% |
| 2026 | -32.7% | -7.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARQ and PACK good diversifiers for each other?
Only partially. A correlation of 0.57 means ARQ and PACK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ARQ and PACK?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.36 over the last year and 0.40 over 5 years.
Is PACK a good diversifier for ARQ?
Only partially. A correlation of 0.57 means ARQ and PACK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/arq-vs-pack.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arq-vs-pack/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARQ correlations · PACK correlations
