AMRC vs GRWG: Correlation
Ameresco, Inc. (AMRC) and GrowGeneration Corp. (GRWG) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMRC and GRWG?
Over the past 3 years, AMRC and GRWG moved with a correlation of 0.50, which is moderate. The past 12 months show a weaker link (0.12) than the 3-year average (0.50). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 2975.4 %².
Within AMRC's tracked universe of 18 assets, GRWG comes in at #6 by 3-year correlation. The trailing year gives GRWG the advantage: -6.6% versus -1.2%, a 5.4-point spread.
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.
AMRC vs GRWG: side by side
| AMRC (Ameresco, Inc.) | GRWG (GrowGeneration Corp.) | |
|---|---|---|
| 1-year return | -6.6% | -1.2% |
| 5-year return | -66.7% | -94.6% |
| Volatility (ann.) | 74.9% | 79.8% |
| Beta vs S&P 500 | 1.78 | 1.88 |
| Max drawdown (3Y) | -81.5% | -76.3% |
| Market cap | $1.2B | $0.1B |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMRC | GRWG |
|---|---|---|
| 2022 | -29.8% | -70.0% |
| 2023 | -44.6% | -36.0% |
| 2024 | -25.9% | -32.7% |
| 2025 | +24.7% | -11.2% |
| 2026 | -21.8% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMRC and GRWG good diversifiers for each other?
Only partially. A correlation of 0.50 means AMRC and GRWG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMRC and GRWG?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.12 over the last year and 0.48 over 5 years.
Is GRWG a good diversifier for AMRC?
Only partially. A correlation of 0.50 means AMRC and GRWG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amrc-vs-grwg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amrc-vs-grwg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMRC correlations · GRWG correlations
