ESS Tech Correlations

GWH Stock

USD 1.24 -0.02 -1.59%

The current 90-days correlation between ESS Tech and Pioneer Power Solutions is 0.49 (i.e., Very weak diversification).The correlation matrix placing ESS Tech alongside other assets in a portfolio reveals concentration risks and helps optimize allocation to achieve target diversification.

Market Correlation Context: ESS Tech

Weak diversification

GWH currently posts a 0.33 correlation with DJI, indicating a Weak diversification relationship for the active sample. Used correctly, the chart supports evaluation of whether adding the second position genuinely diversifies the first.

Build portfolio with ESS Stock

ESS Tech has a market cap of 39.23 M, operating margin of 10.2%, ROE of -3.38%. Portfolio-level context is available through Risk vs Return Analysis. The portfolio structure is presented for analytical context. A position in ESS Tech is indicated here. It is reflected in the overall portfolio structure. 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.

Our How to Invest in ESS Tech guide offers a complete walkthrough for buying and trading ESS Stock.

Moving together with ESS Stock

0.93	ENVX	Enovix Corp	Pair Corr
0.67	ZOOZ	ZOOZ Power	Pair Corr
0.71	CPV	Clearvue Technologies	Pair Corr
0.87	NVVE	Nuvve Holding Corp	Pair Corr
0.81	3C3	KIMBALL ELECTRONICS	Pair Corr
0.64	RAIN	Rain Enhancement	Pair Corr
0.71	SPWR	Complete Solaria Symbol Change	Pair Corr
0.71	BLDP	Ballard Power Systems	Pair Corr
0.91	PBCRY	Bank Central Asia	Pair Corr

Moving against ESS Stock

0.85	RBC	RBC Bearings	Pair Corr
0.79	GNRC	Generac Holdings	Pair Corr
0.77	RRX	Regal Beloit	Pair Corr
0.77	THR	Thermon Group Holdings	Pair Corr
0.74	AMPX	Amprius Technologies	Pair Corr
0.72	PLPC	Preformed Line Products	Pair Corr
0.6	AME	Ametek Inc	Pair Corr
0.33	XCH	XCHG Limited American	Pair Corr
0.88	JPSTF	JAPAN POST BANK	Pair Corr
0.88	AM	Antero Midstream Partners	Pair Corr
0.87	SM	SM Energy	Pair Corr
0.72	TOYO	TOYO Co Tech Boost	Pair Corr
0.68	EE	Excelerate Energy	Pair Corr
0.61	BKRKF	PT Bank Rakyat	Pair Corr
0.47	MZHOF	Mizuho Financial	Pair Corr
0.35	BCKIF	Babcock International	Pair Corr
0.32	MBFJF	Mitsubishi UFJ Financial	Pair Corr

Related Correlations Analysis

	ADSE	PPSI	DFLI	SST	MESA	FLUX	IPWR	NEOV	SPCB	BWEN
ADSE		0.53	0.52	0.65	-0.63	0.48	-0.05	0.01	0.56	0.66	ADSE
PPSI	0.53		0.32	0.77	-0.49	0.34	0.23	0.35	0.26	0.82	PPSI
DFLI	0.52	0.32		0.55	-0.63	0.27	0.24	0.06	0.31	0.61	DFLI
SST	0.65	0.77	0.55		-0.68	0.27	0.24	0.13	0.56	0.8	SST
MESA	-0.63	-0.49	-0.63	-0.68		-0.21	-0.2	-0.11	-0.55	-0.63	MESA
FLUX	0.48	0.34	0.27	0.27	-0.21		-0.1	0.05	-0.05	0.44	FLUX
IPWR	-0.05	0.23	0.24	0.24	-0.2	-0.1		0.57	0.19	0.28	IPWR
NEOV	0.01	0.35	0.06	0.13	-0.11	0.05	0.57		0.0	0.27	NEOV
SPCB	0.56	0.26	0.31	0.56	-0.55	-0.05	0.19	0.0		0.29	SPCB
BWEN	0.66	0.82	0.61	0.8	-0.63	0.44	0.28	0.27	0.29		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

BWEN	+ 0.82	PPSI
BWEN	+ 0.8	SST
SST	+ 0.77	PPSI
BWEN	+ 0.66	ADSE
SST	+ 0.65	ADSE
BWEN	+ 0.61	DFLI

High negative correlations

MESA	- 0.68	SST
BWEN	- 0.63	MESA
MESA	- 0.63	DFLI
MESA	- 0.63	ADSE
SPCB	- 0.55	MESA
MESA	- 0.49	PPSI

Risk-Adjusted Indicators

Surface-level performance for ESS Stock can mask how the business actually stacks up against its competitive set. A thorough review of ESS Tech's risk-adjusted indicators provides a clearer picture of whether returns are being earned efficiently. 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	2.76	-0.15	0.00	1.80	0.00	0.00	5.43	-5.52	16.28
PPSI	3.36	-0.05	0.00	-0.10	0.00	0.00	8.30	-6.52	23.29
DFLI	6.29	-1.47	0.00	-0.97	0.00	0.00	8.73	-18.56	47.98
SST	3.52	-1.36	0.00	-0.89	0.00	0.00	5.64	-9.26	27.09
MESA	2.58	0.26	0.12	-0.59	3.05	-2.98	6.11	-5.56	16.91
FLUX	4.83	0.15	0.00	-0.04	0.00	0.00	13.45	-8.87	31.70
IPWR	5.11	-0.35	0.00	0.24	0.00	0.00	11.14	-10.49	38.33
NEOV	5.84	0.55	0.06	0.09	6.30	-7.18	13.66	-8.98	50.89
SPCB	3.13	-0.05	0.00	-0.14	0.00	0.00	6.32	-6.72	14.80
BWEN	3.81	-0.26	0.00	-0.20	0.00	0.00	7.36	-7.88	44.24

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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