AWX vs OLLI: Correlation
How closely do Avalon Holdings Corporation (AWX) and Ollie's Bargain Outlet Holdings, Inc. (OLLI) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWX and OLLI?
On 3 years of weekly data the AWX/OLLI correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.24). The 5-year figure is -0.01, and annualized covariance runs at -300.8 %².
Among the 12 assets we track against AWX, OLLI sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months AWX outperformed by 54.1 percentage points (+8.9% for AWX against -45.2% for OLLI).
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 OLLI: side by side
| AWX (Avalon Holdings Corporation) | OLLI (Ollie's Bargain Outlet Holdings, Inc.) | |
|---|---|---|
| 1-year return | +8.9% | -45.2% |
| 5-year return | -37.9% | -6.7% |
| Volatility (ann.) | 35.1% | 35.2% |
| Beta vs S&P 500 | 0.10 | 0.75 |
| Max drawdown (3Y) | -51.9% | -56.1% |
| Market cap | – | $4.3B |
| P/E (trailing) | 9.0 | 18.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWX | OLLI |
|---|---|---|
| 2022 | -23.8% | -8.5% |
| 2023 | -13.1% | +62.0% |
| 2024 | +61.9% | +44.6% |
| 2025 | -30.5% | -0.1% |
| 2026 | +0.4% | -34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWX and OLLI good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between AWX and OLLI?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.05 over the last year and -0.01 over 5 years.
Is OLLI a good diversifier for AWX?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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-olli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/awx-vs-olli/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AWX correlations · OLLI correlations
