ASRV vs SAFT: Correlation
Measured on weekly returns over the past three years, AmeriServ Financial Inc. (ASRV) and Safety Insurance Group, Inc. (SAFT) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and SAFT?
Over the past 3 years, ASRV and SAFT moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 369.6 %².
Among the 11 assets we track against ASRV, SAFT ranks #5 by 3-year correlation. Over the last 12 months ASRV came out ahead by 14.5 percentage points (+63.3% against +48.8%).
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.
ASRV vs SAFT: side by side
| ASRV (AmeriServ Financial Inc.) | SAFT (Safety Insurance Group, Inc.) | |
|---|---|---|
| 1-year return | +63.3% | +48.8% |
| 5-year return | +50.5% | +58.1% |
| Volatility (ann.) | 34.7% | 30.8% |
| Beta vs S&P 500 | 0.31 | 0.17 |
| Max drawdown (3Y) | -32.9% | -20.1% |
| Market cap | $0.1B | $1.5B |
| P/E (trailing) | 9.9 | 22.3 |
| Dividend yield | 2.36% | 3.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASRV | SAFT |
|---|---|---|
| 2022 | +5.0% | +3.1% |
| 2023 | -14.5% | -5.4% |
| 2024 | -13.4% | +13.3% |
| 2025 | +24.3% | -0.8% |
| 2026 | +55.6% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and SAFT good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASRV and SAFT?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.37 over the last year and 0.34 over 5 years.
Is SAFT a good diversifier for ASRV?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 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/asrv-vs-saft.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asrv-vs-saft/)
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Related comparisons
Hubs: ASRV correlations · SAFT correlations
