AXR vs OVBC: Correlation
Measured on weekly returns over the past three years, AMREP Corporation (AXR) and Ohio Valley Banc Corp. (OVBC) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXR and OVBC?
On 3 years of weekly data the AXR/OVBC correlation comes out at 0.37, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.37). The 5-year figure is 0.31, and annualized covariance runs at 580.8 %².
OVBC is one of the assets that tracks AXR most closely: it ranks #3 out of the 11 assets we track against AXR. Correlation aside, the last 12 months split them widely, with OVBC ahead by 23.7 points (+4.1% versus +27.8%). One caveat on sizing: AXR is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 OVBC: side by side
| AXR (AMREP Corporation) | OVBC (Ohio Valley Banc Corp.) | |
|---|---|---|
| 1-year return | +4.1% | +27.8% |
| 5-year return | +60.4% | +98.0% |
| Volatility (ann.) | 48.9% | 32.1% |
| Beta vs S&P 500 | 0.44 | 0.12 |
| Max drawdown (3Y) | -52.3% | -26.2% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 12.0 | 15.1 |
| Dividend yield | 0.00% | 2.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXR | OVBC |
|---|---|---|
| 2022 | -24.0% | -7.8% |
| 2023 | +90.2% | -9.3% |
| 2024 | +42.9% | +9.3% |
| 2025 | -40.1% | +70.0% |
| 2026 | +22.1% | +15.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXR and OVBC good diversifiers for each other?
Reasonably. At 0.37, AXR and OVBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXR and OVBC?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.26 over the last year and 0.31 over 5 years.
Is OVBC a good diversifier for AXR?
Reasonably. At 0.37, AXR and OVBC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/axr-vs-ovbc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axr-vs-ovbc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXR correlations · OVBC correlations
