ESS Tech Correlations

GWH Stock

USD 1.59 0.19 13.57%

The current 90-days correlation between ESS Tech and Pioneer Power Solutions is 0.44 (i.e., Very weak 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

Excellent diversification

The correlation between ESS Tech and DJI is -0.58 (i.e., Excellent 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 child.

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

0.93	FLUX	Flux Power Holdings	Pair Corr
0.65	ETN	Eaton PLC	Pair Corr
0.61	6E6	ATON GREEN STORAGE	Pair Corr
0.73	STI	Solidion Technology	Pair Corr
0.87	ZEO	Zeo Energy Corp	Pair Corr
0.77	CPV	Clearvue Technologies	Pair Corr
0.76	SUNE	SUNation Energy Tech Boost	Pair Corr
0.71	PBCRY	Bank Central Asia	Pair Corr

Moving against ESS Stock

0.72	ESP	Espey Mfg Electronics Earnings Call Next Week	Pair Corr
0.69	THR	Thermon Group Holdings	Pair Corr
0.64	NRGV	Energy Vault Holdings	Pair Corr
0.53	PLPC	Preformed Line Products	Pair Corr
0.79	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.72	NEWTH	NewtekOne 8625 percent	Pair Corr
0.66	MAT	Mattel Inc Earnings Call This Week	Pair Corr
0.56	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.76	COMP	Compass	Pair Corr
0.65	CRH	CRH PLC ADR	Pair Corr

Related Correlations Analysis

	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN
ADSE		0.38	-0.37	0.06	0.31	-0.51	-0.43	-0.38	-0.1	0.71	ADSE
PPSI	0.38		-0.46	0.51	0.32	-0.03	0.02	-0.04	-0.1	0.49	PPSI
DFLI	-0.37	-0.46		0.07	-0.72	0.76	0.43	0.14	0.44	-0.48	DFLI
SST	0.06	0.51	0.07		-0.22	0.39	0.21	-0.21	0.4	0.0	SST
MESA	0.31	0.32	-0.72	-0.22		-0.59	-0.11	0.16	-0.22	0.37	MESA
FLUX	-0.51	-0.03	0.76	0.39	-0.59		0.58	0.28	0.57	-0.54	FLUX
IPWR	-0.43	0.02	0.43	0.21	-0.11	0.58		0.49	0.51	-0.42	IPWR
NEOV	-0.38	-0.04	0.14	-0.21	0.16	0.28	0.49		-0.02	-0.15	NEOV
SPCB	-0.1	-0.1	0.44	0.4	-0.22	0.57	0.51	-0.02		-0.49	SPCB
BWEN	0.71	0.49	-0.48	0.0	0.37	-0.54	-0.42	-0.15	-0.49		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	+ 0.76	DFLI
BWEN	+ 0.71	ADSE
IPWR	+ 0.58	FLUX
SPCB	+ 0.57	FLUX
SST	+ 0.51	PPSI
SPCB	+ 0.51	IPWR

High negative correlations

MESA	- 0.72	DFLI
FLUX	- 0.59	MESA
BWEN	- 0.54	FLUX
FLUX	- 0.51	ADSE
BWEN	- 0.49	SPCB
BWEN	- 0.48	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	2.36	(0.05)	0.00	(0.05)	0.00	0.00	5.22	(4.65)	18.67
PPSI	3.71	(0.29)	0.00	(0.02)	0.00	0.00	8.30	(7.78)	23.29
DFLI	6.94	(1.91)	0.00	(0.33)	0.00	0.00	13.98	(18.33)	58.61
SST	3.57	(0.66)	0.00	(0.58)	0.00	0.00	7.18	(8.31)	19.31
MESA	2.58	0.32	0.07	(1.30)	3.05	(2.98)	6.11	(5.56)	16.91
FLUX	4.46	(1.32)	0.00	(0.29)	0.00	0.00	9.87	(11.11)	25.05
IPWR	5.25	(0.26)	0.00	(0.07)	0.00	0.00	9.70	(10.49)	37.70
NEOV	5.82	(0.02)	0.02	0.07	6.54	(6.82)	11.67	(12.33)	50.89
SPCB	3.38	(0.38)	0.00	(0.18)	0.00	0.00	6.59	(6.94)	17.61
BWEN	5.07	0.05	0.02	0.10	7.38	(5.62)	11.11	(9.66)	51.85

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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