AKBA vs OESX: Correlation
Measured on weekly returns over the past three years, Akebia Therapeutics, Inc. (AKBA) and Orion Energy Systems, Inc. (OESX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKBA and OESX?
Over the past 3 years, AKBA and OESX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.27). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1657.3 %².
Among the 12 assets we track against AKBA, OESX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months OESX outperformed by 353.1 percentage points (-68.8% for AKBA against +284.3% for OESX).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AKBA vs OESX: side by side
| AKBA (Akebia Therapeutics, Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | -68.8% | +284.3% |
| 5-year return | -66.7% | -39.9% |
| Volatility (ann.) | 75.3% | 81.4% |
| Beta vs S&P 500 | 1.02 | 1.22 |
| Max drawdown (3Y) | -79.0% | -63.4% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AKBA | OESX |
|---|---|---|
| 2022 | -74.5% | -49.7% |
| 2023 | +114.9% | -52.2% |
| 2024 | +53.2% | -8.0% |
| 2025 | -15.3% | +92.3% |
| 2026 | -41.6% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKBA and OESX good diversifiers for each other?
Yes. With a correlation of -0.27, AKBA and OESX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AKBA and OESX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.45 over the last year and -0.12 over 5 years.
Is OESX a good diversifier for AKBA?
Yes. With a correlation of -0.27, AKBA and OESX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/akba-vs-oesx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/akba-vs-oesx/)
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Related comparisons
Hubs: AKBA correlations · OESX correlations
