CRMT vs RFL: Correlation
How closely do America's Car-Mart, Inc. (CRMT) and Rafael Holdings, Inc. (RFL) 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 CRMT and RFL?
Over the past 3 years, CRMT and RFL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.20 over 3 years. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -937.7 %².
Among the 13 assets we track against CRMT, RFL ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RFL outperformed by 153.1 percentage points (-95.1% for CRMT against +58.0% for RFL).
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.
CRMT vs RFL: side by side
| CRMT (America's Car-Mart, Inc.) | RFL (Rafael Holdings, Inc.) | |
|---|---|---|
| 1-year return | -95.1% | +58.0% |
| 5-year return | -98.2% | -94.5% |
| Volatility (ann.) | 78.3% | 61.2% |
| Beta vs S&P 500 | 1.85 | 0.61 |
| Max drawdown (3Y) | -98.2% | -59.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRMT | RFL |
|---|---|---|
| 2022 | -29.4% | -63.3% |
| 2023 | +4.9% | -2.1% |
| 2024 | -32.4% | -9.8% |
| 2025 | -50.7% | -27.5% |
| 2026 | -90.9% | +100.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRMT and RFL good diversifiers for each other?
Yes. With a correlation of -0.20, CRMT and RFL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRMT and RFL?
As of 2026-08-27, the correlation of weekly returns between CRMT and RFL is -0.20 over 3 years, -0.46 over 1 year and -0.07 over 5 years.
Is RFL a good diversifier for CRMT?
Yes. With a correlation of -0.20, CRMT and RFL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/crmt-vs-rfl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crmt-vs-rfl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRMT correlations · RFL correlations
