AWX vs BOC: Correlation
How closely do Avalon Holdings Corporation (AWX) and Boston Omaha Corporation (BOC) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWX and BOC?
Across a 3-year window, the weekly returns of AWX and BOC correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.02, with an annualized covariance of -207.0 %².
BOC is close to the least connected end of AWX's tracked universe, ranking #9 of 12. On 12-month performance AWX holds a 7.4-point edge, +8.9% against +1.5%.
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.
AWX vs BOC: side by side
| AWX (Avalon Holdings Corporation) | BOC (Boston Omaha Corporation) | |
|---|---|---|
| 1-year return | +8.9% | +1.5% |
| 5-year return | -37.9% | -60.8% |
| Volatility (ann.) | 35.1% | 29.8% |
| Beta vs S&P 500 | 0.10 | 0.31 |
| Max drawdown (3Y) | -51.9% | -37.4% |
| Market cap | – | $0.4B |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWX | BOC |
|---|---|---|
| 2022 | -23.8% | -7.8% |
| 2023 | -13.1% | -40.6% |
| 2024 | +61.9% | -9.9% |
| 2025 | -30.5% | -12.8% |
| 2026 | +0.4% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWX and BOC good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AWX and BOC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.25 over the last year and -0.02 over 5 years.
Is BOC a good diversifier for AWX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awx-vs-boc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/awx-vs-boc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AWX correlations · BOC correlations
