POWW vs RVT: Correlation
How closely do Outdoor Holding Company (POWW) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are POWW and RVT?
On 3 years of weekly data the POWW/RVT correlation comes out at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 457.0 %².
RVT is one of the assets that tracks POWW most closely: it ranks #2 out of the 11 assets we track against POWW. Correlation aside, the last 12 months split them widely, with POWW ahead by 18.6 points (+46.0% versus +27.4%). Note the risk asymmetry: POWW runs 2.9 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.
POWW vs RVT: side by side
| POWW (Outdoor Holding Company) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +46.0% | +27.4% |
| 5-year return | -70.6% | +53.9% |
| Volatility (ann.) | 54.9% | 19.1% |
| Beta vs S&P 500 | 0.93 | 0.99 |
| Max drawdown (3Y) | -67.5% | -23.5% |
| Market cap | $0.3B | $2.3B |
| P/E (trailing) | 109.5 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | POWW | RVT |
|---|---|---|
| 2022 | -68.3% | -26.3% |
| 2023 | +21.4% | +18.8% |
| 2024 | -47.6% | +17.9% |
| 2025 | +55.5% | +11.5% |
| 2026 | +28.1% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are POWW and RVT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between POWW and RVT?
The POWW/RVT correlation stands at 0.44 on a 3-year window (1 year: 0.41, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is RVT a good diversifier for POWW?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/poww-vs-rvt.json
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[](https://www.pairbook.io/pair/poww-vs-rvt/)
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Related comparisons
Hubs: POWW correlations · RVT correlations
