AMSF vs TORO: Correlation
Measured on weekly returns over the past three years, AMERISAFE, Inc. (AMSF) and Toro Corp. (TORO) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSF and TORO?
Across a 3-year window, the weekly returns of AMSF and TORO correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.26 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -502.9 %².
Among the 12 assets we track against AMSF, TORO sits near the bottom by co-movement, at rank #11. The last year tells two different stories: TORO led by 315.8 percentage points, -39.5% for AMSF against +276.3% for TORO. One caveat on sizing: TORO is 3.2 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 TORO: side by side
| AMSF (AMERISAFE, Inc.) | TORO (Toro Corp.) | |
|---|---|---|
| 1-year return | -39.5% | +276.3% |
| 5-year return | -29.7% | n/a |
| Volatility (ann.) | 24.6% | 78.4% |
| Beta vs S&P 500 | 0.22 | 0.97 |
| Max drawdown (3Y) | -50.2% | -71.5% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | 10.5 | 311.5 |
| Dividend yield | 6.09% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSF | TORO |
|---|---|---|
| 2022 | +6.1% | – |
| 2023 | -0.9% | – |
| 2024 | +19.6% | -42.9% |
| 2025 | -20.8% | +87.9% |
| 2026 | -30.2% | +96.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSF and TORO good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMSF and TORO?
As of 2026-08-27, the correlation of weekly returns between AMSF and TORO is -0.26 over 3 years, -0.49 over 1 year and n/a over 5 years.
Is TORO a good diversifier for AMSF?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AMSF correlations · TORO correlations
