ABAT vs ARTW: Correlation
Measured on weekly returns over the past three years, American Battery Technology Company (ABAT) and Art's-Way Manufacturing Co., Inc. (ARTW) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and ARTW?
Over the past 3 years, ABAT and ARTW moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.51). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 5316.4 %².
Among the 29 assets we track against ABAT, ARTW ranks #15 by 3-year correlation. The trailing year gives ABAT the advantage: +2.1% versus -3.0%, a 5.1-point spread. Note the risk asymmetry: ABAT runs 2.3 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.
ABAT vs ARTW: side by side
| ABAT (American Battery Technology Company) | ARTW (Art's-Way Manufacturing Co., Inc.) | |
|---|---|---|
| 1-year return | +2.1% | -3.0% |
| 5-year return | -88.8% | -16.9% |
| Volatility (ann.) | 153.9% | 68.2% |
| Beta vs S&P 500 | 2.08 | 0.87 |
| Max drawdown (3Y) | -93.2% | -60.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | ARTW |
|---|---|---|
| 2022 | -62.0% | -45.5% |
| 2023 | -23.2% | +7.3% |
| 2024 | -47.5% | +4.8% |
| 2025 | +35.8% | +8.3% |
| 2026 | -19.9% | +23.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and ARTW good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABAT and ARTW?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.20 over the last year and 0.38 over 5 years.
Is ARTW a good diversifier for ABAT?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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: ABAT correlations · ARTW correlations
