ASH vs DLTR: Correlation
How closely do Ashland Inc. (ASH) and Dollar Tree (DLTR) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASH and DLTR?
Across a 3-year window, the weekly returns of ASH and DLTR correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 474.9 %².
Out of 12 assets tracked against ASH, DLTR lands near the bottom at #8. The last year tells two different stories: ASH led by 22.2 percentage points, +34.7% for ASH against +12.5% for DLTR.
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.
ASH vs DLTR: side by side
| ASH (Ashland Inc.) | DLTR (Dollar Tree) | |
|---|---|---|
| 1-year return | +34.7% | +12.5% |
| 5-year return | -6.5% | +39.7% |
| Volatility (ann.) | 31.6% | 37.3% |
| Beta vs S&P 500 | 0.98 | 0.70 |
| Max drawdown (3Y) | -53.3% | -59.2% |
| Market cap | $3.4B | $23.8B |
| P/E (trailing) | 47.7 | 21.2 |
| Dividend yield | 2.24% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | ASH | DLTR |
|---|---|---|
| 2022 | +1.1% | +0.7% |
| 2023 | -20.2% | +0.4% |
| 2024 | -13.7% | -47.2% |
| 2025 | -15.4% | +64.1% |
| 2026 | +27.8% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASH and DLTR good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASH and DLTR?
As of 2026-08-27, the correlation of weekly returns between ASH and DLTR is 0.40 over 3 years, 0.49 over 1 year and 0.38 over 5 years.
Is DLTR a good diversifier for ASH?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/ash-vs-dltr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ash-vs-dltr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASH correlations · DLTR correlations
