ASG vs EME: Correlation
Liberty All-Star Growth Fund, Inc. (ASG) and Emcor (EME) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and EME?
Across a 3-year window, the weekly returns of ASG and EME correlate at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.57). Stretching to 5 years gives 0.51, with an annualized covariance of 365.6 %².
Within ASG's tracked universe of 52 assets, EME comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EME ahead by 21.2 points (+3.3% versus +24.5%). Note the risk asymmetry: EME runs 1.9 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.
ASG vs EME: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | EME (Emcor) | |
|---|---|---|
| 1-year return | +3.3% | +24.5% |
| 5-year return | -5.6% | +540.3% |
| Volatility (ann.) | 18.3% | 34.9% |
| Beta vs S&P 500 | 1.12 | 1.31 |
| Max drawdown (3Y) | -25.3% | -36.2% |
| Market cap | $0.3B | $34.2B |
| P/E (trailing) | 23.9 | 23.8 |
| Dividend yield | 8.76% | 0.09% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ASG | EME |
|---|---|---|
| 2022 | -40.9% | +16.8% |
| 2023 | +16.2% | +46.0% |
| 2024 | +16.8% | +111.3% |
| 2025 | +2.2% | +35.1% |
| 2026 | +6.0% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and EME good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASG and EME?
As of 2026-08-27, the correlation of weekly returns between ASG and EME is 0.57 over 3 years, 0.40 over 1 year and 0.51 over 5 years.
Is EME a good diversifier for ASG?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/asg-vs-eme.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asg-vs-eme/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASG correlations · EME correlations
