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 0.02 (i.e., Significant 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

0.86	002869	Shenzhen Genvict Tec	Pair Corr
0.72	688032	Hoymiles Power Elect	Pair Corr
0.91	601311	Camel Group	Pair Corr
0.68	002823	Shenzhen Kaizhong	Pair Corr
0.65	603527	Anhui Zhongyuan New	Pair Corr
0.83	EGY	Energy Technologies	Pair Corr
0.68	EFOI	Energy Focu	Pair Corr
0.92	ELPW	Elong Power Holding	Pair Corr
0.85	WATT	Energous	Pair Corr
0.84	ENVX	Enovix Corp	Pair Corr
0.66	002576	Jiangsu Tongda Power	Pair Corr
0.66	300763	Ningbo Ginlong Techn	Pair Corr

Moving against ESS Stock

0.77	300548	Broadex Technologies	Pair Corr
0.69	VICR	Vicor	Pair Corr
0.64	603700	Ningbo Water Meter	Pair Corr
0.61	PN	Skycorp Solar Group	Pair Corr
0.59	003031	Hebei Sinopack Electronic	Pair Corr
0.53	ST	Sensata Technologies	Pair Corr
0.48	300870	Shenzhen Honor Electronic	Pair Corr
0.38	300700	Changsha DIALINE New	Pair Corr
0.85	ENS	Enersys	Pair Corr
0.75	AME	Ametek Inc	Pair Corr
0.72	ESP	Espey Mfg Electronics	Pair Corr
0.6	600525	Changyuan Group	Pair Corr
0.48	688800	Suzhou Recodeal Inte	Pair Corr
0.47	EMR	Emerson Electric	Pair Corr
0.37	002922	Eaglerise Electric	Pair Corr
0.36	FLNC	Fluence Energy	Pair Corr

Related Correlations Analysis

	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN
ADSE		0.17	-0.65	-0.44	0.55	-0.63	-0.71	-0.73	-0.41	0.78	ADSE
PPSI	0.17		-0.05	0.47	0.4	0.25	0.11	-0.29	0.06	0.24	PPSI
DFLI	-0.65	-0.05		0.71	-0.65	0.8	0.86	0.63	0.53	-0.65	DFLI
SST	-0.44	0.47	0.71		-0.39	0.86	0.72	0.25	0.49	-0.42	SST
MESA	0.55	0.4	-0.65	-0.39		-0.55	-0.48	-0.5	-0.41	0.67	MESA
FLUX	-0.63	0.25	0.8	0.86	-0.55		0.82	0.42	0.59	-0.56	FLUX
IPWR	-0.71	0.11	0.86	0.72	-0.48	0.82		0.53	0.71	-0.69	IPWR
NEOV	-0.73	-0.29	0.63	0.25	-0.5	0.42	0.53		0.06	-0.48	NEOV
SPCB	-0.41	0.06	0.53	0.49	-0.41	0.59	0.71	0.06		-0.67	SPCB
BWEN	0.78	0.24	-0.65	-0.42	0.67	-0.56	-0.69	-0.48	-0.67		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

IPWR	+ 0.86	DFLI
FLUX	+ 0.86	SST
IPWR	+ 0.82	FLUX
FLUX	+ 0.8	DFLI
BWEN	+ 0.78	ADSE
IPWR	+ 0.72	SST

High negative correlations

NEOV	- 0.73	ADSE
IPWR	- 0.71	ADSE
BWEN	- 0.69	IPWR
BWEN	- 0.67	SPCB
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	3.26	0.13	0.01	1.38	4.06	(3.36)	7.31	(6.90)	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	5.96	(2.01)	0.00	(0.50)	0.00	0.00	9.87	(17.39)	43.25
IPWR	4.51	(0.48)	0.00	(0.09)	0.00	0.00	9.70	(8.85)	37.85
NEOV	5.06	(0.20)	0.00	(0.03)	0.00	0.00	9.42	(9.51)	27.03
SPCB	3.28	(0.21)	0.00	(0.81)	0.00	0.00	6.59	(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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