ARTNA vs HTO: Correlation
Measured on weekly returns over the past three years, Artesian Resources Corporation - Class A Non-Voting (ARTNA) and H2O America (HTO) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTNA and HTO?
On 3 years of weekly data the ARTNA/HTO correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 381.2 %².
By 3-year correlation, HTO places #5 of the 12 assets tracked against ARTNA. Correlation aside, the last 12 months split them widely, with HTO ahead by 17.3 points (+10.6% versus +27.9%).
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 HTO: side by side
| ARTNA (Artesian Resources Corporation - Class A Non-Voting) | HTO (H2O America) | |
|---|---|---|
| 1-year return | +10.6% | +27.9% |
| 5-year return | +4.6% | +4.2% |
| Volatility (ann.) | 22.9% | 24.2% |
| Beta vs S&P 500 | 0.27 | 0.14 |
| Max drawdown (3Y) | -34.3% | -32.4% |
| Market cap | $0.4B | $2.6B |
| P/E (trailing) | 15.6 | 22.5 |
| Dividend yield | 3.54% | 2.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTNA | HTO |
|---|---|---|
| 2022 | +29.3% | +13.4% |
| 2023 | -27.6% | -17.8% |
| 2024 | -21.2% | -22.6% |
| 2025 | +3.8% | +2.9% |
| 2026 | +15.0% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTNA and HTO good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ARTNA and HTO?
The ARTNA/HTO correlation stands at 0.69 on a 3-year window (1 year: 0.61, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is HTO a good diversifier for ARTNA?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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-hto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/artna-vs-hto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARTNA correlations · HTO correlations
