ARRY vs ORLY: Correlation
Measured on weekly returns over the past three years, Array Technologies, Inc. (ARRY) and O'Reilly Automotive (ORLY) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARRY and ORLY?
On 3 years of weekly data the ARRY/ORLY correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. The 5-year figure is -0.05, and annualized covariance runs at -287.4 %².
Out of 14 assets tracked against ARRY, ORLY lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months ORLY outperformed by 32.7 percentage points (-48.3% for ARRY against -15.6% for ORLY). Note the risk asymmetry: ARRY runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ARRY vs ORLY: side by side
| ARRY (Array Technologies, Inc.) | ORLY (O'Reilly Automotive) | |
|---|---|---|
| 1-year return | -48.3% | -15.6% |
| 5-year return | -75.3% | +120.8% |
| Volatility (ann.) | 73.3% | 19.8% |
| Beta vs S&P 500 | 1.37 | 0.20 |
| Max drawdown (3Y) | -84.9% | -23.3% |
| Market cap | $0.7B | $71.1B |
| P/E (trailing) | – | 28.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | ARRY | ORLY |
|---|---|---|
| 2022 | +23.2% | +19.5% |
| 2023 | -13.1% | +12.6% |
| 2024 | -64.0% | +24.8% |
| 2025 | +52.6% | +15.4% |
| 2026 | -49.3% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARRY and ORLY good diversifiers for each other?
Yes. With a correlation of -0.20, ARRY and ORLY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARRY and ORLY?
The ARRY/ORLY correlation stands at -0.20 on a 3-year window (1 year: -0.24, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is ORLY a good diversifier for ARRY?
Yes. With a correlation of -0.20, ARRY and ORLY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/arry-vs-orly.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arry-vs-orly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARRY correlations · ORLY correlations
