ATLO vs BGM: Correlation
Measured on weekly returns over the past three years, Ames National Corporation (ATLO) and BGM Group Ltd. - Class A (BGM) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and BGM?
Across a 3-year window, the weekly returns of ATLO and BGM correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.34) runs below the 3-year figure (-0.21). Stretching to 5 years gives -0.18, with an annualized covariance of -571.7 %².
BGM is close to the least connected end of ATLO's tracked universe, ranking #8 of 11. Their recent paths diverged sharply: over the last 12 months ATLO outperformed by 159.9 percentage points (+63.5% for ATLO against -96.4% for BGM). Note the risk asymmetry: BGM runs 3.8 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.
ATLO vs BGM: side by side
| ATLO (Ames National Corporation) | BGM (BGM Group Ltd. - Class A) | |
|---|---|---|
| 1-year return | +63.5% | -96.4% |
| 5-year return | +67.0% | -98.5% |
| Volatility (ann.) | 26.4% | 101.6% |
| Beta vs S&P 500 | 0.51 | 0.50 |
| Max drawdown (3Y) | -25.4% | -98.5% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLO | BGM |
|---|---|---|
| 2022 | +1.0% | -72.1% |
| 2023 | -4.5% | +7.5% |
| 2024 | -19.0% | +119.2% |
| 2025 | +45.7% | -56.3% |
| 2026 | +39.2% | -92.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and BGM good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ATLO and BGM?
The ATLO/BGM correlation stands at -0.21 on a 3-year window (1 year: -0.34, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is BGM a good diversifier for ATLO?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/atlo-vs-bgm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atlo-vs-bgm/)
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Related comparisons
Hubs: ATLO correlations · BGM correlations
