ASIX vs OESX: Correlation
Measured on weekly returns over the past three years, AdvanSix Inc. (ASIX) and Orion Energy Systems, Inc. (OESX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASIX and OESX?
Over the past 3 years, ASIX and OESX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.21). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -772.6 %².
OESX is close to the least connected end of ASIX's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with OESX ahead by 302.8 points (-18.5% versus +284.3%). Risk is not evenly split, since OESX carries 1.8 times the volatility of the other side.
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.
ASIX vs OESX: side by side
| ASIX (AdvanSix Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | -18.5% | +284.3% |
| 5-year return | -49.2% | -39.9% |
| Volatility (ann.) | 45.7% | 81.4% |
| Beta vs S&P 500 | 0.50 | 1.22 |
| Max drawdown (3Y) | -55.2% | -63.4% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 3.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASIX | OESX |
|---|---|---|
| 2022 | -18.5% | -49.7% |
| 2023 | -19.7% | -52.2% |
| 2024 | -2.7% | -8.0% |
| 2025 | -37.3% | +92.3% |
| 2026 | -3.0% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASIX and OESX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASIX and OESX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.35 over the last year and -0.08 over 5 years.
Is OESX a good diversifier for ASIX?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/asix-vs-oesx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asix-vs-oesx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASIX correlations · OESX correlations
