CHCO vs ESQ: Correlation
How closely do City Holding Company (CHCO) 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 CHCO and ESQ?
Over the past 3 years, CHCO and ESQ moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 398.0 %².
Within CHCO's tracked universe of 16 assets, ESQ comes in at #9 by 3-year correlation. Their 12-month results are close: +13.3% for CHCO 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.
CHCO vs ESQ: side by side
| CHCO (City Holding Company) | ESQ (Esquire Financial Holdings, Inc.) | |
|---|---|---|
| 1-year return | +13.3% | +14.5% |
| 5-year return | +113.1% | +359.7% |
| Volatility (ann.) | 20.7% | 29.3% |
| Beta vs S&P 500 | 0.45 | 0.60 |
| Max drawdown (3Y) | -18.4% | -20.7% |
| Market cap | $2.0B | $1.4B |
| P/E (trailing) | 15.7 | 18.6 |
| Dividend yield | 2.41% | 0.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCO | ESQ |
|---|---|---|
| 2022 | +17.3% | +38.3% |
| 2023 | +22.0% | +16.7% |
| 2024 | +10.4% | +60.9% |
| 2025 | +3.4% | +29.4% |
| 2026 | +22.6% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and ESQ good diversifiers for each other?
Only partially. A correlation of 0.65 means CHCO and ESQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHCO and ESQ?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.65 over the last year and 0.57 over 5 years.
Is ESQ a good diversifier for CHCO?
Only partially. A correlation of 0.65 means CHCO and ESQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/chco-vs-esq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chco-vs-esq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHCO correlations · ESQ correlations
