ARTNA vs AWR: Correlation
How closely do Artesian Resources Corporation - Class A Non-Voting (ARTNA) and American States Water Company (AWR) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTNA and AWR?
Over the past 3 years, ARTNA and AWR moved with a correlation of 0.74, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 351.1 %².
Few assets follow ARTNA as closely as AWR, which ranks #2 of 12 tracked partners. On 12-month performance AWR holds a 10.9-point edge, +10.6% against +21.5%.
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 AWR: side by side
| ARTNA (Artesian Resources Corporation - Class A Non-Voting) | AWR (American States Water Company) | |
|---|---|---|
| 1-year return | +10.6% | +21.5% |
| 5-year return | +4.6% | +7.6% |
| Volatility (ann.) | 22.9% | 20.8% |
| Beta vs S&P 500 | 0.27 | 0.04 |
| Max drawdown (3Y) | -34.3% | -21.9% |
| Market cap | $0.4B | $3.5B |
| P/E (trailing) | 15.6 | 24.3 |
| Dividend yield | 3.54% | 2.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTNA | AWR |
|---|---|---|
| 2022 | +29.3% | -8.9% |
| 2023 | -27.6% | -11.4% |
| 2024 | -21.2% | -1.2% |
| 2025 | +3.8% | -4.3% |
| 2026 | +15.0% | +25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTNA and AWR good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARTNA and AWR?
As of 2026-08-27, the correlation of weekly returns between ARTNA and AWR is 0.74 over 3 years, 0.76 over 1 year and 0.65 over 5 years.
Is AWR a good diversifier for ARTNA?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 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-awr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/artna-vs-awr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARTNA correlations · AWR correlations
