DGICB vs ETSY: Correlation
Donegal Group, Inc. (DGICB) and Etsy, Inc. (ETSY) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICB and ETSY?
Over the past 3 years, DGICB and ETSY moved with a correlation of 0.30, which is moderate. The link has tightened recently: the 1-year correlation (0.43) runs above the 3-year figure (0.30). Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is 570.9 %².
ETSY is one of the assets that tracks DGICB most closely: it ranks #3 out of the 19 assets we track against DGICB. The last year tells two different stories: DGICB led by 15.9 percentage points, +68.3% for DGICB against +52.4% for ETSY.
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.
DGICB vs ETSY: side by side
| DGICB (Donegal Group, Inc.) | ETSY (Etsy, Inc.) | |
|---|---|---|
| 1-year return | +68.3% | +52.4% |
| 5-year return | +82.3% | -61.9% |
| Volatility (ann.) | 41.5% | 46.0% |
| Beta vs S&P 500 | 0.15 | 0.98 |
| Max drawdown (3Y) | -30.3% | -53.1% |
| Market cap | $0.9B | $7.6B |
| P/E (trailing) | 12.1 | 25.8 |
| Dividend yield | 3.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGICB | ETSY |
|---|---|---|
| 2022 | +25.8% | -45.3% |
| 2023 | -6.8% | -32.3% |
| 2024 | +1.6% | -34.7% |
| 2025 | +30.8% | +4.8% |
| 2026 | +34.6% | +49.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICB and ETSY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGICB and ETSY?
The DGICB/ETSY correlation stands at 0.30 on a 3-year window (1 year: 0.43, 5 years: 0.10), computed from weekly returns as of 2026-08-27.
Is ETSY a good diversifier for DGICB?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 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
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Related comparisons
Hubs: DGICB correlations · ETSY correlations
