NATH vs OVLY: Correlation
Measured on weekly returns over the past three years, Nathan's Famous, Inc. (NATH) and Oak Valley Bancorp (CA) (OVLY) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATH and OVLY?
Over the past 3 years, NATH and OVLY moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.44). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 295.1 %².
Among the 14 assets we track against NATH, OVLY ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OVLY outperformed by 27.7 percentage points (-5.5% for NATH against +22.2% for OVLY).
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.
NATH vs OVLY: side by side
| NATH (Nathan's Famous, Inc.) | OVLY (Oak Valley Bancorp (CA)) | |
|---|---|---|
| 1-year return | -5.5% | +22.2% |
| 5-year return | +68.7% | +111.8% |
| Volatility (ann.) | 25.3% | 26.5% |
| Beta vs S&P 500 | 0.50 | 0.56 |
| Max drawdown (3Y) | -19.5% | -26.3% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 20.2 | 11.9 |
| Dividend yield | 2.05% | 2.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATH | OVLY |
|---|---|---|
| 2022 | +18.7% | +32.4% |
| 2023 | +19.2% | +33.9% |
| 2024 | +3.5% | -0.7% |
| 2025 | +24.6% | +5.1% |
| 2026 | +5.5% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATH and OVLY good diversifiers for each other?
Reasonably. At 0.44, NATH and OVLY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NATH and OVLY?
As of 2026-08-27, the correlation of weekly returns between NATH and OVLY is 0.44 over 3 years, 0.31 over 1 year and 0.33 over 5 years.
Is OVLY a good diversifier for NATH?
Reasonably. At 0.44, NATH and OVLY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nath-vs-ovly.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nath-vs-ovly/)
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Related comparisons
Hubs: NATH correlations · OVLY correlations
