ESS Tech Correlations

GWH Stock

USD 4.84 0.10 2.11%

The current 90-days correlation between ESS Tech and Ocean Power Technologies is 0.03 (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

Good diversification

The correlation between ESS Tech and DJI is -0.12 (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 interest.

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

0.74

300141

Suzhou Industrial Park

Pair Corr

Moving against ESS Stock

0.57	ESP	Espey Mfg Electronics	Pair Corr
0.5	FOS	FOS Capital	Pair Corr
0.36	CPV	Clearvue Technologies	Pair Corr
0.34	300407	Tianjin Keyvia Electric	Pair Corr
0.31	301131	Super-Dragon Engineering	Pair Corr
0.68	300032	Jinlong Machinery	Pair Corr
0.58	301359	Dongnan Electronics	Pair Corr
0.57	301157	Hangzhou Huasu Technology	Pair Corr
0.51	301439	Weihai Honglin Electronic	Pair Corr
0.4	300648	Fujian Nebula Electronics	Pair Corr
0.32	GSTX	Graphene Solar Techn	Pair Corr

Related Correlations Analysis

	OPTT	DFLI	CBAT	ESP	FLUX	TUSK	MVST	ULBI	RFIL	SPAI
OPTT		0.17	0.35	0.18	0.06	0.52	0.14	0.62	0.44	-0.11	OPTT
DFLI	0.17		0.45	-0.75	0.88	-0.42	0.87	-0.22	0.44	0.48	DFLI
CBAT	0.35	0.45		-0.24	0.29	0.0	0.35	0.2	0.15	-0.24	CBAT
ESP	0.18	-0.75	-0.24		-0.81	0.49	-0.76	0.39	-0.41	-0.3	ESP
FLUX	0.06	0.88	0.29	-0.81		-0.49	0.93	-0.3	0.55	0.52	FLUX
TUSK	0.52	-0.42	0.0	0.49	-0.49		-0.37	0.88	0.19	-0.54	TUSK
MVST	0.14	0.87	0.35	-0.76	0.93	-0.37		-0.19	0.61	0.51	MVST
ULBI	0.62	-0.22	0.2	0.39	-0.3	0.88	-0.19		0.23	-0.54	ULBI
RFIL	0.44	0.44	0.15	-0.41	0.55	0.19	0.61	0.23		0.24	RFIL
SPAI	-0.11	0.48	-0.24	-0.3	0.52	-0.54	0.51	-0.54	0.24		SPAI
	OPTT	DFLI	CBAT	ESP	FLUX	TUSK	MVST	ULBI	RFIL	SPAI

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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

MVST	+ 0.93	FLUX
FLUX	+ 0.88	DFLI
ULBI	+ 0.88	TUSK
MVST	+ 0.87	DFLI
ULBI	+ 0.62	OPTT
RFIL	+ 0.61	MVST

High negative correlations

FLUX	- 0.81	ESP
MVST	- 0.76	ESP
ESP	- 0.75	DFLI
SPAI	- 0.54	ULBI
SPAI	- 0.54	TUSK
TUSK	- 0.49	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
OPTT	4.19	(0.78)	0.00	(0.16)	0.00	0.00	8.33	(10.71)	34.57
DFLI	10.79	2.51	0.21	0.36	9.50	(16.98)	36.84	(16.15)	110.82
CBAT	2.66	(0.22)	0.00	(0.04)	0.00	0.00	6.06	(6.60)	22.75
ESP	2.78	(0.42)	0.00	(0.45)	0.00	0.00	5.48	(6.96)	18.27
FLUX	6.96	2.17	0.32	4.27	5.38	(8.78)	17.05	(7.87)	71.17
TUSK	1.73	(0.38)	0.00	(0.16)	0.00	0.00	4.02	(4.49)	15.72
MVST	4.44	0.77	0.16	0.59	4.12	(5.20)	12.50	(6.30)	29.92
ULBI	2.47	(0.53)	0.00	(0.12)	0.00	0.00	6.08	(5.57)	23.11
RFIL	4.28	(0.11)	(0.01)	0.00	5.31	(4.71)	9.87	(9.08)	24.20
SPAI	6.44	1.09	0.17	0.49	6.17	(7.24)	16.40	(9.08)	35.65

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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