ESS Tech Correlations

GWH Stock

USD 3.34 0.23 6.44%

The current 90-days correlation between ESS Tech and Eos Energy Enterprises is 0.32 (i.e., 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

Average diversification

The correlation between ESS Tech and DJI is 0.17 (i.e., Average 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.

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 housing.

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

0.87	ELPW	Elong Power Holding	Pair Corr
0.79	ENVX	Enovix Corp	Pair Corr
0.69	FCEL	FuelCell Energy	Pair Corr
0.81	FLUX	Flux Power Holdings	Pair Corr
0.67	AYI	Acuity Brands	Pair Corr
0.66	EAF	GrafTech International	Pair Corr
0.8	ESP	Espey Mfg Electronics	Pair Corr
0.78	NVT	nVent Electric PLC	Pair Corr
0.87	NVX	Novonix Ltd ADR	Pair Corr
0.77	XPON	Expion360	Pair Corr
0.86	STI	Solidion Technology	Pair Corr
0.8	VRT	Vertiv Holdings	Pair Corr
0.63	EOSEW	Eos Energy Enterprises	Pair Corr
0.67	PITAW	Heramba Electric plc	Pair Corr
0.82	HUBB	Hubbell	Pair Corr
0.9	IPWR	Ideal Power	Pair Corr
0.66	ADSEW	ADS TEC ENERGY	Pair Corr
0.68	NEOV	NeoVolta Common Stock	Pair Corr
0.64	PLUG	Plug Power	Pair Corr
0.79	POWL	Powell Industries	Pair Corr
0.76	PPSI	Pioneer Power Solutions	Pair Corr

Moving against ESS Stock

0.41	ENS	Enersys	Pair Corr
0.5	G	Genpact Limited	Pair Corr
0.32	APWC	Asia Pacific Wire	Pair Corr

Related Correlations Analysis

	FLNC	SLDP	EOSE	FREY	LICY
FLNC		0.53	0.21	0.53	0.83	FLNC
SLDP	0.53		0.62	0.56	0.25	SLDP
EOSE	0.21	0.62		0.5	0.13	EOSE
FREY	0.53	0.56	0.5		0.35	FREY
LICY	0.83	0.25	0.13	0.35		LICY
	FLNC	SLDP	EOSE	FREY	LICY

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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
FLNC	4.31	(1.53)	0.00	(30.32)	0.00	0.00	6.06	(7.60)	52.93
SLDP	4.15	0.24	0.05	0.13	4.64	(5.23)	9.23	(9.05)	41.68
EOSE	5.20	0.83	0.12	0.20	5.08	(6.28)	13.79	(8.85)	40.49
FREY	4.65	(0.39)	0.00	(0.49)	0.00	0.00	12.10	(8.76)	30.45
LICY	5.30	(1.15)	0.00	(1.36)	0.00	0.00	8.99	(9.95)	60.03

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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