AMSF vs ASC: Correlation
AMERISAFE, Inc. (AMSF) and Ardmore Shipping Corporation (ASC) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSF and ASC?
On 3 years of weekly data the AMSF/ASC correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is -0.03, and annualized covariance runs at -236.6 %².
Out of 12 assets tracked against AMSF, ASC lands near the bottom at #10. The last year tells two different stories: ASC led by 97.5 percentage points, -39.5% for AMSF against +58.0% for ASC. One caveat on sizing: ASC is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMSF vs ASC: side by side
| AMSF (AMERISAFE, Inc.) | ASC (Ardmore Shipping Corporation) | |
|---|---|---|
| 1-year return | -39.5% | +58.0% |
| 5-year return | -29.7% | +514.4% |
| Volatility (ann.) | 24.6% | 38.9% |
| Beta vs S&P 500 | 0.22 | 0.31 |
| Max drawdown (3Y) | -50.2% | -61.4% |
| Market cap | $0.5B | $0.7B |
| P/E (trailing) | 10.5 | 6.9 |
| Dividend yield | 6.09% | 8.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSF | ASC |
|---|---|---|
| 2022 | +6.1% | +326.3% |
| 2023 | -0.9% | +5.8% |
| 2024 | +19.6% | -8.2% |
| 2025 | -20.8% | -11.1% |
| 2026 | -30.2% | +71.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSF and ASC good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMSF and ASC?
As of 2026-08-27, the correlation of weekly returns between AMSF and ASC is -0.25 over 3 years, -0.26 over 1 year and -0.03 over 5 years.
Is ASC a good diversifier for AMSF?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/amsf-vs-asc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amsf-vs-asc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMSF correlations · ASC correlations
