ESS Tech Correlations

GWH Stock

USD 1.84 0.06 3.37%

The current 90-days correlation between ESS Tech and Pioneer Power Solutions is 0.24 (i.e., Modest diversification). The correlation of ESS Tech is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ESS Tech Correlation With Market

Modest diversification

The correlation between ESS Tech and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESS Tech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ESS Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ESS Tech. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

For more detail on how to invest in ESS Stock please use our How to Invest in ESS Tech guide.

Moving together with ESS Stock

0.72	002121	Shenzhen Clou Electronics	Pair Corr
0.88	002670	Guosheng Financial	Pair Corr
0.63	300207	Sunwoda Electronic	Pair Corr
0.72	688063	Pylon Technologies	Pair Corr
0.86	PLUG	Plug Power Aggressive Push	Pair Corr
0.72	STEM	Stem Inc	Pair Corr
0.7	300907	Kangping Technology	Pair Corr
0.84	GRAB	Grab Holdings	Pair Corr
0.89	NIO	Nio Class A	Pair Corr
0.73	RXRX	Recursion Pharmaceuticals	Pair Corr
0.67	AUR	Aurora Innovation	Pair Corr

Moving against ESS Stock

0.77	300548	Broadex Technologies	Pair Corr
0.76	300648	Fujian Nebula Electronics	Pair Corr
0.73	ESP	Espey Mfg Electronics	Pair Corr
0.73	F	Ford Motor	Pair Corr
0.69	300032	Jinlong Machinery	Pair Corr
0.53	ST	Sensata Technologies	Pair Corr
0.46	002339	Integrated Electronic	Pair Corr
0.44	600110	Nuode Investment	Pair Corr
0.87	FYBR	Frontier Communications	Pair Corr
0.8	ATI	Allegheny Technologies	Pair Corr
0.77	RIVN	Rivian Automotive	Pair Corr
0.76	WSFS	WSFS Financial	Pair Corr
0.73	INFY	Infosys Ltd ADR Aggressive Push	Pair Corr
0.73	WEICF	Weichai Power	Pair Corr
0.72	ACN	Accenture plc	Pair Corr
0.71	NMIH	NMI Holdings	Pair Corr
0.7	PNGZF	Paringa Resources	Pair Corr
0.7	ACR-PC	ACRES Commercial Realty	Pair Corr

Related Correlations Analysis

	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN
ADSE		0.1	-0.65	-0.44	0.55	-0.64	-0.74	-0.73	-0.54	0.78	ADSE
PPSI	0.1		0.03	0.52	0.38	0.28	0.13	-0.16	0.15	0.22	PPSI
DFLI	-0.65	0.03		0.71	-0.65	0.81	0.84	0.63	0.7	-0.65	DFLI
SST	-0.44	0.52	0.71		-0.39	0.86	0.68	0.25	0.66	-0.42	SST
MESA	0.55	0.38	-0.65	-0.39		-0.54	-0.5	-0.5	-0.47	0.67	MESA
FLUX	-0.64	0.28	0.81	0.86	-0.54		0.81	0.42	0.71	-0.58	FLUX
IPWR	-0.74	0.13	0.84	0.68	-0.5	0.81		0.54	0.79	-0.7	IPWR
NEOV	-0.73	-0.16	0.63	0.25	-0.5	0.42	0.54		0.3	-0.48	NEOV
SPCB	-0.54	0.15	0.7	0.66	-0.47	0.71	0.79	0.3		-0.73	SPCB
BWEN	0.78	0.22	-0.65	-0.42	0.67	-0.58	-0.7	-0.48	-0.73		BWEN
	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FLUX	+ 0.86	SST
IPWR	+ 0.84	DFLI
FLUX	+ 0.81	DFLI
IPWR	+ 0.81	FLUX
SPCB	+ 0.79	IPWR
BWEN	+ 0.78	ADSE

High negative correlations

IPWR	- 0.74	ADSE
BWEN	- 0.73	SPCB
NEOV	- 0.73	ADSE
BWEN	- 0.7	IPWR
BWEN	- 0.65	DFLI
MESA	- 0.65	DFLI

Risk-Adjusted Indicators

There is a big difference between ESS Stock performing well and ESS Tech Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ESS Tech's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADSE	2.21	0.28	0.09	0.82	2.28	(2.76)	5.43	(3.64)	17.85
PPSI	3.36	(0.26)	(0.02)	0.01	4.22	(3.39)	7.31	(6.91)	20.00
DFLI	7.83	(2.00)	0.00	(0.19)	0.00	0.00	14.81	(18.33)	66.79
SST	3.95	(1.01)	0.00	(0.37)	0.00	0.00	8.03	(9.26)	26.87
MESA	2.58	0.26	0.06	0.58	3.05	(2.98)	6.11	(5.56)	16.91
FLUX	6.01	(1.87)	0.00	(0.64)	0.00	0.00	9.87	(17.39)	43.25
IPWR	4.32	(0.56)	0.00	(0.40)	0.00	0.00	9.50	(8.85)	37.85
NEOV	5.06	(0.20)	0.00	(0.03)	0.00	0.00	9.42	(9.51)	27.03
SPCB	3.21	(0.43)	0.00	(0.36)	0.00	0.00	6.32	(5.88)	23.83
BWEN	4.85	0.70	0.14	0.50	4.76	(5.68)	11.37	(9.57)	28.93

ESS Tech Corporate Management

Vince Canino	Chief Officer	Profile
Julia Song	CoFounder CTO	Profile
Benjamin Heng	Executive Engineering	Profile
Jeff Loebbaka	Chief Officer	Profile
Chris Montgomery	Senior Chain	Profile
Brian Lisiecki	Chief Officer	Profile
Eric Dresselhuys	CEO Director	Profile

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