BW vs GRWG: Correlation
Measured on weekly returns over the past three years, Babcock & Wilcox Enterprises, Inc. (BW) and GrowGeneration Corp. (GRWG) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BW and GRWG?
On 3 years of weekly data the BW/GRWG correlation comes out at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.42 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 4566.1 %².
In BW's tracked universe of 10 assets, GRWG sits right near the top at #1. Correlation aside, the last 12 months split them widely, with BW ahead by 318.6 points (+317.4% versus -1.2%). One caveat on sizing: BW is 1.7 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 GRWG: side by side
| BW (Babcock & Wilcox Enterprises, Inc.) | GRWG (GrowGeneration Corp.) | |
|---|---|---|
| 1-year return | +317.4% | -1.2% |
| 5-year return | +5.9% | -94.6% |
| Volatility (ann.) | 137.1% | 79.8% |
| Beta vs S&P 500 | 3.26 | 1.88 |
| Max drawdown (3Y) | -95.2% | -76.3% |
| Market cap | $1.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BW | GRWG |
|---|---|---|
| 2022 | -36.0% | -70.0% |
| 2023 | -74.7% | -36.0% |
| 2024 | +12.3% | -32.7% |
| 2025 | +286.6% | -11.2% |
| 2026 | +21.1% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BW and GRWG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BW and GRWG?
As of 2026-08-27, the correlation of weekly returns between BW and GRWG is 0.42 over 3 years, 0.28 over 1 year and 0.39 over 5 years.
Is GRWG a good diversifier for BW?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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/bw-vs-grwg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bw-vs-grwg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BW correlations · GRWG correlations
