ARTNA vs AWK: Correlation
Artesian Resources Corporation - Class A Non-Voting (ARTNA) and American Water Works (AWK) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTNA and AWK?
Over the past 3 years, ARTNA and AWK moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 295.1 %².
Among the 12 assets we track against ARTNA, AWK ranks #6 by 3-year correlation. The trailing year gives ARTNA the advantage: +10.6% versus -3.0%, a 13.6-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.
ARTNA vs AWK: side by side
| ARTNA (Artesian Resources Corporation - Class A Non-Voting) | AWK (American Water Works) | |
|---|---|---|
| 1-year return | +10.6% | -3.0% |
| 5-year return | +4.6% | -16.6% |
| Volatility (ann.) | 22.9% | 20.7% |
| Beta vs S&P 500 | 0.27 | -0.11 |
| Max drawdown (3Y) | -34.3% | -18.8% |
| Market cap | $0.4B | $27.2B |
| P/E (trailing) | 15.6 | 23.7 |
| Dividend yield | 3.54% | 2.46% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ARTNA | AWK |
|---|---|---|
| 2022 | +29.3% | -17.9% |
| 2023 | -27.6% | -11.7% |
| 2024 | -21.2% | -3.5% |
| 2025 | +3.8% | +7.4% |
| 2026 | +15.0% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTNA and AWK good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARTNA and AWK?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.64 over the last year and 0.56 over 5 years.
Is AWK a good diversifier for ARTNA?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/artna-vs-awk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/artna-vs-awk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARTNA correlations · AWK correlations
