CZNC vs ESCA: Correlation
Citizens & Northern Corp (CZNC) and Escalade, Incorporated (ESCA) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZNC and ESCA?
Across a 3-year window, the weekly returns of CZNC and ESCA correlate at 0.47, moderate. The past 12 months show a weaker link (0.11) than the 3-year average (0.47). Stretching to 5 years gives 0.36, with an annualized covariance of 476.9 %².
Within CZNC's tracked universe of 14 assets, ESCA comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ESCA outperformed by 29.7 percentage points (+32.5% for CZNC against +62.2% for ESCA).
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.
CZNC vs ESCA: side by side
| CZNC (Citizens & Northern Corp) | ESCA (Escalade, Incorporated) | |
|---|---|---|
| 1-year return | +32.5% | +62.2% |
| 5-year return | +31.8% | +6.6% |
| Volatility (ann.) | 27.6% | 36.5% |
| Beta vs S&P 500 | 0.57 | 0.59 |
| Max drawdown (3Y) | -26.1% | -42.7% |
| Market cap | $0.5B | $0.3B |
| P/E (trailing) | 17.3 | 11.9 |
| Dividend yield | 4.42% | 3.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZNC | ESCA |
|---|---|---|
| 2022 | -8.4% | -32.2% |
| 2023 | +3.7% | +104.0% |
| 2024 | -12.2% | -25.9% |
| 2025 | +14.9% | -1.5% |
| 2026 | +31.0% | +52.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZNC and ESCA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CZNC and ESCA?
The CZNC/ESCA correlation stands at 0.47 on a 3-year window (1 year: 0.11, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is ESCA a good diversifier for CZNC?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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.
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Related comparisons
Hubs: CZNC correlations · ESCA correlations
