CZFS vs ESCA: Correlation
Measured on weekly returns over the past three years, Citizens Financial Services, Inc. (CZFS) and Escalade, Incorporated (ESCA) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZFS and ESCA?
On 3 years of weekly data the CZFS/ESCA correlation comes out at 0.52, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.52). The 5-year figure is 0.44, and annualized covariance runs at 823.8 %².
Among the 14 assets we track against CZFS, ESCA ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ESCA ahead by 27.4 points (+34.8% versus +62.2%).
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 ESCA: side by side
| CZFS (Citizens Financial Services, Inc.) | ESCA (Escalade, Incorporated) | |
|---|---|---|
| 1-year return | +34.8% | +62.2% |
| 5-year return | +56.8% | +6.6% |
| Volatility (ann.) | 43.2% | 36.5% |
| Beta vs S&P 500 | 0.95 | 0.59 |
| Max drawdown (3Y) | -38.1% | -42.7% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 9.4 | 11.9 |
| Dividend yield | 2.49% | 3.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZFS | ESCA |
|---|---|---|
| 2022 | +31.2% | -32.2% |
| 2023 | -12.3% | +104.0% |
| 2024 | +2.7% | -25.9% |
| 2025 | -6.9% | -1.5% |
| 2026 | +44.6% | +52.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZFS and ESCA good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CZFS and ESCA?
As of 2026-08-27, the correlation of weekly returns between CZFS and ESCA is 0.52 over 3 years, 0.18 over 1 year and 0.44 over 5 years.
Is ESCA a good diversifier for CZFS?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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.
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Related comparisons
Hubs: CZFS correlations · ESCA correlations
