ADSE vs BDL: Correlation
ADS-TEC ENERGY PLC (ADSE) and Flanigan's Enterprises, Inc. (BDL) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSE and BDL?
Across a 3-year window, the weekly returns of ADSE and BDL correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.05, with an annualized covariance of -424.5 %².
Among the 11 assets we track against ADSE, BDL sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months BDL outperformed by 72.0 percentage points (-8.1% for ADSE against +63.9% for BDL).
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.
ADSE vs BDL: side by side
| ADSE (ADS-TEC ENERGY PLC) | BDL (Flanigan's Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -8.1% | +63.9% |
| 5-year return | +14.5% | +118.2% |
| Volatility (ann.) | 49.2% | 39.5% |
| Beta vs S&P 500 | 0.35 | 0.37 |
| Max drawdown (3Y) | -48.1% | -30.5% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 0.00% | 1.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADSE | BDL |
|---|---|---|
| 2022 | -65.8% | -13.7% |
| 2023 | +129.2% | +0.8% |
| 2024 | +116.9% | +0.0% |
| 2025 | -18.2% | +19.2% |
| 2026 | -10.9% | +64.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSE and BDL good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ADSE and BDL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.22 over the last year and -0.05 over 5 years.
Is BDL a good diversifier for ADSE?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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.
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Related comparisons
Hubs: ADSE correlations · BDL correlations
