ARKR vs ATO: Correlation
How closely do Ark Restaurants Corp. (ARKR) and Atmos Energy (ATO) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKR and ATO?
On 3 years of weekly data the ARKR/ATO correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.23). The 5-year figure is -0.11, and annualized covariance runs at -187.2 %².
Among the 14 assets we track against ARKR, ATO sits near the bottom by co-movement, at rank #13. The last year tells two different stories: ATO led by 25.7 percentage points, -22.8% for ARKR against +2.9% for ATO. Note the risk asymmetry: ARKR runs 3.2 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.
ARKR vs ATO: side by side
| ARKR (Ark Restaurants Corp.) | ATO (Atmos Energy) | |
|---|---|---|
| 1-year return | -22.8% | +2.9% |
| 5-year return | -64.1% | +94.1% |
| Volatility (ann.) | 50.4% | 15.9% |
| Beta vs S&P 500 | 0.34 | 0.15 |
| Max drawdown (3Y) | -70.3% | -12.7% |
| Market cap | – | $28.3B |
| P/E (trailing) | – | 19.9 |
| Dividend yield | 0.00% | 2.28% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ARKR | ATO |
|---|---|---|
| 2022 | +0.4% | +9.6% |
| 2023 | -11.5% | +6.2% |
| 2024 | -19.8% | +23.4% |
| 2025 | -39.0% | +23.1% |
| 2026 | -21.3% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKR and ATO good diversifiers for each other?
Yes. With a correlation of -0.23, ARKR and ATO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARKR and ATO?
As of 2026-08-27, the correlation of weekly returns between ARKR and ATO is -0.23 over 3 years, -0.04 over 1 year and -0.11 over 5 years.
Is ATO a good diversifier for ARKR?
Yes. With a correlation of -0.23, ARKR and ATO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/arkr-vs-ato.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/arkr-vs-ato/)
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Related comparisons
Hubs: ARKR correlations · ATO correlations
