AWX vs PLAG: Correlation
Measured on weekly returns over the past three years, Avalon Holdings Corporation (AWX) and Planet Green Holdings Corp. (PLAG) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWX and PLAG?
On 3 years of weekly data the AWX/PLAG correlation comes out at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.39 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 2197.3 %².
PLAG is one of the assets that tracks AWX most closely: it ranks #3 out of the 12 assets we track against AWX. The last year tells two different stories: AWX led by 68.0 percentage points, +8.9% for AWX against -59.1% for PLAG. Note the risk asymmetry: PLAG runs 4.6 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.
AWX vs PLAG: side by side
| AWX (Avalon Holdings Corporation) | PLAG (Planet Green Holdings Corp.) | |
|---|---|---|
| 1-year return | +8.9% | -59.1% |
| 5-year return | -37.9% | -94.2% |
| Volatility (ann.) | 35.1% | 160.4% |
| Beta vs S&P 500 | 0.10 | -0.67 |
| Max drawdown (3Y) | -51.9% | -93.8% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWX | PLAG |
|---|---|---|
| 2022 | -23.8% | -39.2% |
| 2023 | -13.1% | -21.0% |
| 2024 | +61.9% | -46.9% |
| 2025 | -30.5% | -15.8% |
| 2026 | +0.4% | -67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWX and PLAG good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AWX and PLAG?
As of 2026-08-27, the correlation of weekly returns between AWX and PLAG is 0.39 over 3 years, 0.20 over 1 year and 0.28 over 5 years.
Is PLAG a good diversifier for AWX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-plag.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awx-vs-plag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWX correlations · PLAG correlations
