CAC vs ESQ: Correlation
How closely do Camden National Corporation (CAC) and Esquire Financial Holdings, Inc. (ESQ) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAC and ESQ?
Over the past 3 years, CAC and ESQ moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 550.1 %².
Among the 24 assets we track against CAC, ESQ ranks #15 by 3-year correlation. The last year tells two different stories: CAC led by 28.8 percentage points, +43.3% for CAC against +14.5% for ESQ.
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.
CAC vs ESQ: side by side
| CAC (Camden National Corporation) | ESQ (Esquire Financial Holdings, Inc.) | |
|---|---|---|
| 1-year return | +43.3% | +14.5% |
| 5-year return | +51.3% | +359.7% |
| Volatility (ann.) | 29.0% | 29.3% |
| Beta vs S&P 500 | 0.87 | 0.60 |
| Max drawdown (3Y) | -26.0% | -20.7% |
| Market cap | $1.0B | $1.4B |
| P/E (trailing) | 10.9 | 18.6 |
| Dividend yield | 2.97% | 0.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAC | ESQ |
|---|---|---|
| 2022 | -10.3% | +38.3% |
| 2023 | -5.0% | +16.7% |
| 2024 | +19.1% | +60.9% |
| 2025 | +5.8% | +29.4% |
| 2026 | +34.5% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAC and ESQ good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CAC and ESQ?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.58 over the last year and 0.54 over 5 years.
Is ESQ a good diversifier for CAC?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 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/cac-vs-esq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cac-vs-esq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CAC correlations · ESQ correlations
