ASC vs IDA: Correlation
Measured on weekly returns over the past three years, Ardmore Shipping Corporation (ASC) and IDACORP, Inc. (IDA) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and IDA?
Over the past 3 years, ASC and IDA moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -139.5 %².
Out of 14 assets tracked against ASC, IDA lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with ASC ahead by 46.4 points (+58.0% versus +11.6%). Note the risk asymmetry: ASC runs 2.2 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.
ASC vs IDA: side by side
| ASC (Ardmore Shipping Corporation) | IDA (IDACORP, Inc.) | |
|---|---|---|
| 1-year return | +58.0% | +11.6% |
| 5-year return | +514.4% | +51.7% |
| Volatility (ann.) | 38.9% | 17.8% |
| Beta vs S&P 500 | 0.31 | 0.10 |
| Max drawdown (3Y) | -61.4% | -13.6% |
| Market cap | $0.7B | $8.0B |
| P/E (trailing) | 6.9 | 22.9 |
| Dividend yield | 8.07% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASC | IDA |
|---|---|---|
| 2022 | +326.3% | -2.1% |
| 2023 | +5.8% | -6.0% |
| 2024 | -8.2% | +15.0% |
| 2025 | -11.1% | +19.2% |
| 2026 | +71.7% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and IDA good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASC and IDA?
As of 2026-08-27, the correlation of weekly returns between ASC and IDA is -0.20 over 3 years, -0.20 over 1 year and -0.09 over 5 years.
Is IDA a good diversifier for ASC?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asc-vs-ida.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asc-vs-ida/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASC correlations · IDA correlations
