ADC vs AWK: Correlation
How closely do Agree Realty Corporation (ADC) and American Water Works (AWK) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADC and AWK?
Across a 3-year window, the weekly returns of ADC and AWK correlate at 0.60, strong. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.60). Stretching to 5 years gives 0.59, with an annualized covariance of 206.6 %².
Within ADC's tracked universe of 22 assets, AWK comes in at #9 by 3-year correlation. The trailing year gives ADC the advantage: +4.9% versus -3.0%, a 7.9-point spread.
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.
ADC vs AWK: side by side
| ADC (Agree Realty Corporation) | AWK (American Water Works) | |
|---|---|---|
| 1-year return | +4.9% | -3.0% |
| 5-year return | +21.4% | -16.6% |
| Volatility (ann.) | 16.6% | 20.7% |
| Beta vs S&P 500 | 0.09 | -0.11 |
| Max drawdown (3Y) | -13.0% | -18.8% |
| Market cap | $9.1B | $27.2B |
| P/E (trailing) | 39.8 | 23.7 |
| Dividend yield | 4.26% | 2.46% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ADC | AWK |
|---|---|---|
| 2022 | +3.5% | -17.9% |
| 2023 | -7.1% | -11.7% |
| 2024 | +17.2% | -3.5% |
| 2025 | +6.6% | +7.4% |
| 2026 | +4.1% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADC and AWK good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ADC and AWK?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.45 over the last year and 0.59 over 5 years.
Is AWK a good diversifier for ADC?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adc-vs-awk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adc-vs-awk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADC correlations · AWK correlations
