AXR vs BANX: Correlation
How closely do AMREP Corporation (AXR) and ArrowMark Financial Corp. - Closed End Fund (BANX) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXR and BANX?
On 3 years of weekly data the AXR/BANX correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.35). The 5-year figure is 0.22, and annualized covariance runs at 254.6 %².
By 3-year correlation, BANX places #4 of the 11 assets tracked against AXR. Over the last 12 months BANX came out ahead by 8.9 percentage points (+4.1% against +13.0%). Risk is not evenly split, since AXR carries 3.3 times the volatility of the other side.
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.
AXR vs BANX: side by side
| AXR (AMREP Corporation) | BANX (ArrowMark Financial Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | +4.1% | +13.0% |
| 5-year return | +60.4% | +58.6% |
| Volatility (ann.) | 48.9% | 14.7% |
| Beta vs S&P 500 | 0.44 | 0.32 |
| Max drawdown (3Y) | -52.3% | -13.7% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 12.0 | 8.4 |
| Dividend yield | 0.00% | 8.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXR | BANX |
|---|---|---|
| 2022 | -24.0% | -15.3% |
| 2023 | +90.2% | +20.4% |
| 2024 | +42.9% | +27.7% |
| 2025 | -40.1% | +15.6% |
| 2026 | +22.1% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXR and BANX good diversifiers for each other?
Reasonably. At 0.35, AXR and BANX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXR and BANX?
As of 2026-08-27, the correlation of weekly returns between AXR and BANX is 0.35 over 3 years, 0.21 over 1 year and 0.22 over 5 years.
Is BANX a good diversifier for AXR?
Reasonably. At 0.35, AXR and BANX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
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Related comparisons
Hubs: AXR correlations · BANX correlations
