CZFS vs EP: Correlation
How closely do Citizens Financial Services, Inc. (CZFS) and Empire Petroleum Corporation (EP) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZFS and EP?
Across a 3-year window, the weekly returns of CZFS and EP correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.38 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 1110.4 %².
By 3-year correlation, EP places #9 of the 14 assets tracked against CZFS. The last year tells two different stories: CZFS led by 67.7 percentage points, +34.8% for CZFS against -32.9% for EP. Note the risk asymmetry: EP runs 1.6 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.
CZFS vs EP: side by side
| CZFS (Citizens Financial Services, Inc.) | EP (Empire Petroleum Corporation) | |
|---|---|---|
| 1-year return | +34.8% | -32.9% |
| 5-year return | +56.8% | -46.4% |
| Volatility (ann.) | 43.2% | 67.0% |
| Beta vs S&P 500 | 0.95 | 1.00 |
| Max drawdown (3Y) | -38.1% | -77.9% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZFS | EP |
|---|---|---|
| 2022 | +31.2% | +1.9% |
| 2023 | -12.3% | -10.7% |
| 2024 | +2.7% | -30.8% |
| 2025 | -6.9% | -60.0% |
| 2026 | +44.6% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZFS and EP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CZFS and EP?
As of 2026-08-27, the correlation of weekly returns between CZFS and EP is 0.38 over 3 years, 0.17 over 1 year and 0.29 over 5 years.
Is EP a good diversifier for CZFS?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/czfs-vs-ep.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/czfs-vs-ep/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CZFS correlations · EP correlations
