ASRV vs BFRI: Correlation
Measured on weekly returns over the past three years, AmeriServ Financial Inc. (ASRV) and Biofrontera Inc. (BFRI) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and BFRI?
Across a 3-year window, the weekly returns of ASRV and BFRI correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.18). Stretching to 5 years gives -0.01, with an annualized covariance of -589.1 %².
Out of 11 assets tracked against ASRV, BFRI lands near the bottom at #8. Over the last 12 months BFRI came out ahead by 10.0 percentage points (+63.3% against +73.3%). Note the risk asymmetry: BFRI runs 2.7 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.
ASRV vs BFRI: side by side
| ASRV (AmeriServ Financial Inc.) | BFRI (Biofrontera Inc.) | |
|---|---|---|
| 1-year return | +63.3% | +73.3% |
| 5-year return | +50.5% | -98.3% |
| Volatility (ann.) | 34.7% | 92.3% |
| Beta vs S&P 500 | 0.31 | 0.66 |
| Max drawdown (3Y) | -32.9% | -93.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.36% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASRV | BFRI |
|---|---|---|
| 2022 | +5.0% | -87.8% |
| 2023 | -14.5% | -84.9% |
| 2024 | -13.4% | -60.6% |
| 2025 | +24.3% | -47.7% |
| 2026 | +55.6% | +161.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and BFRI good diversifiers for each other?
Yes. With a correlation of -0.18, ASRV and BFRI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASRV and BFRI?
The ASRV/BFRI correlation stands at -0.18 on a 3-year window (1 year: 0.01, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is BFRI a good diversifier for ASRV?
Yes. With a correlation of -0.18, ASRV and BFRI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/asrv-vs-bfri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asrv-vs-bfri/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASRV correlations · BFRI correlations
