ARTW vs ESCA: Correlation
Art's-Way Manufacturing Co., Inc. (ARTW) and Escalade, Incorporated (ESCA) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARTW and ESCA?
Across a 3-year window, the weekly returns of ARTW and ESCA correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -492.6 %².
ESCA is close to the least connected end of ARTW's tracked universe, ranking #9 of 11. The last year tells two different stories: ESCA led by 65.2 percentage points, -3.0% for ARTW against +62.2% for ESCA. One caveat on sizing: ARTW is 1.9 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.
ARTW vs ESCA: side by side
| ARTW (Art's-Way Manufacturing Co., Inc.) | ESCA (Escalade, Incorporated) | |
|---|---|---|
| 1-year return | -3.0% | +62.2% |
| 5-year return | -16.9% | +6.6% |
| Volatility (ann.) | 68.2% | 36.5% |
| Beta vs S&P 500 | 0.87 | 0.59 |
| Max drawdown (3Y) | -60.0% | -42.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 11.9 |
| Dividend yield | 0.00% | 3.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARTW | ESCA |
|---|---|---|
| 2022 | -45.5% | -32.2% |
| 2023 | +7.3% | +104.0% |
| 2024 | +4.8% | -25.9% |
| 2025 | +8.3% | -1.5% |
| 2026 | +23.4% | +52.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARTW and ESCA good diversifiers for each other?
Yes. With a correlation of -0.20, ARTW and ESCA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARTW and ESCA?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.24 over the last year and -0.09 over 5 years.
Is ESCA a good diversifier for ARTW?
Yes. With a correlation of -0.20, ARTW and ESCA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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.
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Related comparisons
Hubs: ARTW correlations · ESCA correlations
