BW vs ENS: Correlation
Measured on weekly returns over the past three years, Babcock & Wilcox Enterprises, Inc. (BW) and EnerSys (ENS) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BW and ENS?
Over the past 3 years, BW and ENS moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.41). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 1697.6 %².
Few assets follow BW as closely as ENS, which ranks #3 of 10 tracked partners. The last year tells two different stories: BW led by 229.5 percentage points, +317.4% for BW against +87.9% for ENS. One caveat on sizing: BW is 4.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BW vs ENS: side by side
| BW (Babcock & Wilcox Enterprises, Inc.) | ENS (EnerSys) | |
|---|---|---|
| 1-year return | +317.4% | +87.9% |
| 5-year return | +5.9% | +131.9% |
| Volatility (ann.) | 137.1% | 30.1% |
| Beta vs S&P 500 | 3.26 | 1.09 |
| Max drawdown (3Y) | -95.2% | -28.2% |
| Market cap | $1.1B | $6.9B |
| P/E (trailing) | – | 20.7 |
| Dividend yield | 0.00% | 0.54% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BW | ENS |
|---|---|---|
| 2022 | -36.0% | -5.6% |
| 2023 | -74.7% | +37.9% |
| 2024 | +12.3% | -7.6% |
| 2025 | +286.6% | +60.3% |
| 2026 | +21.1% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BW and ENS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BW and ENS?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.25 over the last year and 0.36 over 5 years.
Is ENS a good diversifier for BW?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bw-vs-ens.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bw-vs-ens/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BW correlations · ENS correlations
