ESS Tech Correlations

GWH Stock

USD 1.59 0.07 4.22%

The current 90-days correlation between ESS Tech and Ocean Power Technologies is 0.21 (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

Pay attention - limited upside

The correlation between ESS Tech and DJI is -0.83 (i.e., Pay attention - limited upside) 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 private.

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

0.77	PN	Skycorp Solar Group	Pair Corr
0.74	0LT	Leoch International	Pair Corr
0.85	2V3	VPower Group Interna	Pair Corr
0.69	ENVX	Enovix Corp	Pair Corr
0.73	AYI	Acuity Brands	Pair Corr
0.8	XLE1	LEGEND POWER SYS Earnings Call Tomorrow	Pair Corr

Moving against ESS Stock

0.89	AME	Ametek Inc	Pair Corr
0.89	ESP	Espey Mfg Electronics	Pair Corr
0.86	P4L	PREFORMED LINE PROD	Pair Corr
0.82	VICR	Vicor Tech Boost	Pair Corr
0.79	EMR	Emerson Electric	Pair Corr
0.78	ST	Sensata Technologies	Pair Corr
0.78	ENS	Enersys	Pair Corr
0.71	ELVA	Electrovaya	Pair Corr
0.69	ELVA	Electrovaya	Pair Corr
0.6	4LG	LANDISGYR GROUP AG	Pair Corr
0.59	WATT	Energous	Pair Corr
0.55	ALDBT	DBT SA	Pair Corr
0.45	CEA	FRIWO AG	Pair Corr
0.84	RBC	RBC Bearings	Pair Corr
0.84	MIE1	Mitsubishi Electric	Pair Corr
0.83	THR	Thermon Group Holdings	Pair Corr
0.82	64K	VOLEX PLC LS	Pair Corr
0.76	NXT	Nextracker Class A	Pair Corr
0.73	RRX	Regal Beloit	Pair Corr
0.69	ECL	Excelsior Capital	Pair Corr
0.63	GNRC	Generac Holdings	Pair Corr
0.59	NVT	nVent Electric PLC	Pair Corr
0.57	VRT	Vertiv Holdings	Pair Corr
0.55	HPS-A	Hammond Power Solutions	Pair Corr

Related Correlations Analysis

	OPTT	RFIL	DFLI	SUGP	XCH	DHX	FTEK	SHIM	RYM
OPTT		0.46	-0.08	-0.03	-0.3	0.15	-0.29	0.39	-0.52	OPTT
RFIL	0.46		-0.62	-0.41	-0.41	0.62	-0.79	0.8	-0.61	RFIL
DFLI	-0.08	-0.62		0.36	0.3	-0.41	0.88	-0.78	0.12	DFLI
SUGP	-0.03	-0.41	0.36		0.11	-0.54	0.43	-0.19	0.16	SUGP
XCH	-0.3	-0.41	0.3	0.11		-0.31	0.47	-0.47	0.46	XCH
DHX	0.15	0.62	-0.41	-0.54	-0.31		-0.57	0.43	-0.5	DHX
FTEK	-0.29	-0.79	0.88	0.43	0.47	-0.57		-0.81	0.36	FTEK
SHIM	0.39	0.8	-0.78	-0.19	-0.47	0.43	-0.81		-0.47	SHIM
RYM	-0.52	-0.61	0.12	0.16	0.46	-0.5	0.36	-0.47		RYM
	OPTT	RFIL	DFLI	SUGP	XCH	DHX	FTEK	SHIM	RYM

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

FTEK	+ 0.88	DFLI
SHIM	+ 0.8	RFIL
DHX	+ 0.62	RFIL
FTEK	+ 0.47	XCH
RFIL	+ 0.46	OPTT
RYM	+ 0.46	XCH

High negative correlations

SHIM	- 0.81	FTEK
FTEK	- 0.79	RFIL
SHIM	- 0.78	DFLI
DFLI	- 0.62	RFIL
RYM	- 0.61	RFIL
FTEK	- 0.57	DHX

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
OPTT	5.65	0.07	0.03	0.11	6.30	(8.74)	22.81	(9.43)	38.97
RFIL	4.00	0.99	0.27	0.54	3.23	(4.96)	12.60	(6.26)	33.57
DFLI	6.61	(1.51)	0.00	(0.30)	0.00	0.00	12.06	(18.33)	52.01
SUGP	4.76	(0.01)	0.00	0.10	0.00	0.00	12.83	(8.52)	41.48
XCH	4.66	0.37	0.05	0.77	5.72	(5.39)	11.11	(9.24)	39.56
DHX	3.77	0.62	0.12	1.68	4.11	(4.21)	7.28	(6.17)	45.44
FTEK	3.10	(0.36)	0.00	(0.11)	0.00	0.00	6.77	(6.90)	17.51
SHIM	4.26	0.68	0.19	0.32	4.06	(5.30)	11.93	(7.40)	24.16
RYM	5.55	0.43	0.06	4.00	5.76	(6.55)	11.59	(8.83)	63.12

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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