ESS Tech Correlations

GWH Stock

USD 1.86 0.08 4.12%

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

Good diversification

The correlation between ESS Tech and DJI is -0.04 (i.e., Good 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 manufacturing.

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

0.69

EOSE

Eos Energy Enterprises

Pair Corr

Moving against ESS Stock

0.59	300548	Broadex Technologies	Pair Corr
0.44	300700	Changsha DIALINE New	Pair Corr
0.4	300870	Shenzhen Honor Electronic	Pair Corr
0.39	003031	Hebei Sinopack Electronic	Pair Corr
0.41	688800	Suzhou Recodeal Inte	Pair Corr
0.36	600525	Changyuan Group	Pair Corr

Related Correlations Analysis

	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN
ADSE		-0.22	-0.35	-0.27	0.36	-0.47	-0.57	-0.5	-0.27	0.7	ADSE
PPSI	-0.22		0.59	0.78	-0.48	0.74	0.76	0.34	0.68	-0.46	PPSI
DFLI	-0.35	0.59		0.48	-0.2	0.68	0.59	0.4	0.16	-0.34	DFLI
SST	-0.27	0.78	0.48		-0.58	0.81	0.75	0.6	0.81	-0.65	SST
MESA	0.36	-0.48	-0.2	-0.58		-0.48	-0.6	-0.46	-0.69	0.67	MESA
FLUX	-0.47	0.74	0.68	0.81	-0.48		0.78	0.52	0.59	-0.6	FLUX
IPWR	-0.57	0.76	0.59	0.75	-0.6	0.78		0.49	0.74	-0.76	IPWR
NEOV	-0.5	0.34	0.4	0.6	-0.46	0.52	0.49		0.44	-0.63	NEOV
SPCB	-0.27	0.68	0.16	0.81	-0.69	0.59	0.74	0.44		-0.69	SPCB
BWEN	0.7	-0.46	-0.34	-0.65	0.67	-0.6	-0.76	-0.63	-0.69		BWEN
	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.81	SST
SPCB	+ 0.81	SST
SST	+ 0.78	PPSI
IPWR	+ 0.78	FLUX
IPWR	+ 0.76	PPSI
IPWR	+ 0.75	SST

High negative correlations

BWEN	- 0.76	IPWR
BWEN	- 0.69	SPCB
SPCB	- 0.69	MESA
BWEN	- 0.65	SST
BWEN	- 0.63	NEOV
BWEN	- 0.6	FLUX

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	2.25	0.27	0.11	0.33	2.23	(2.82)	5.43	(3.37)	20.96
PPSI	3.03	(0.25)	0.00	(0.02)	0.00	0.00	5.93	(6.91)	16.24
DFLI	12.28	1.38	0.15	0.21	11.65	(14.96)	38.62	(18.56)	116.66
SST	3.74	(0.81)	0.00	(0.44)	0.00	0.00	6.87	(9.17)	26.87
MESA	2.58	0.29	0.07	2.23	3.05	(2.98)	6.11	(5.56)	16.91
FLUX	7.26	(0.67)	0.00	(0.26)	0.00	0.00	15.15	(17.39)	66.61
IPWR	3.72	(0.88)	0.00	(0.27)	0.00	0.00	8.68	(8.33)	37.85
NEOV	4.55	(0.81)	0.00	(0.32)	0.00	0.00	9.07	(10.40)	27.03
SPCB	3.32	(0.44)	0.00	(0.18)	0.00	0.00	5.72	(6.02)	23.83
BWEN	4.40	0.70	0.15	0.45	4.46	(5.07)	11.37	(8.75)	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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC