ESOA vs RBKB: Correlation
Energy Services of America Corporation (ESOA) and Rhinebeck Bancorp, Inc. (RBKB) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESOA and RBKB?
Over the past 3 years, ESOA and RBKB moved with a correlation of 0.35, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 717.7 %².
Among the 11 assets we track against ESOA, RBKB ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RBKB outperformed by 17.5 percentage points (+14.0% for ESOA against +31.5% for RBKB). One caveat on sizing: ESOA is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ESOA vs RBKB: side by side
| ESOA (Energy Services of America Corporation) | RBKB (Rhinebeck Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +14.0% | +31.5% |
| 5-year return | +517.2% | +64.9% |
| Volatility (ann.) | 70.1% | 29.5% |
| Beta vs S&P 500 | 0.86 | 0.08 |
| Max drawdown (3Y) | -57.4% | -30.0% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 19.1 | 14.0 |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESOA | RBKB |
|---|---|---|
| 2022 | -22.1% | -14.5% |
| 2023 | +141.3% | -11.6% |
| 2024 | +111.4% | +20.1% |
| 2025 | -34.4% | +24.3% |
| 2026 | +43.6% | +46.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESOA and RBKB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESOA and RBKB?
The ESOA/RBKB correlation stands at 0.35 on a 3-year window (1 year: 0.40, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is RBKB a good diversifier for ESOA?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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/esoa-vs-rbkb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/esoa-vs-rbkb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESOA correlations · RBKB correlations
