CPSH vs ESS: Correlation
CPS Technologies Corp. (CPSH) and Essex Property Trust (ESS) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPSH and ESS?
Across a 3-year window, the weekly returns of CPSH and ESS correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.18). Stretching to 5 years gives -0.03, with an annualized covariance of -320.1 %².
By 3-year correlation, ESS places #10 of the 18 assets tracked against CPSH. On 12-month performance CPSH holds a 6.2-point edge, +15.3% against +9.1%. Note the risk asymmetry: CPSH runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CPSH vs ESS: side by side
| CPSH (CPS Technologies Corp.) | ESS (Essex Property Trust) | |
|---|---|---|
| 1-year return | +15.3% | +9.1% |
| 5-year return | -32.8% | +3.0% |
| Volatility (ann.) | 78.3% | 22.2% |
| Beta vs S&P 500 | 0.50 | 0.64 |
| Max drawdown (3Y) | -69.7% | -20.8% |
| Market cap | $0.1B | $19.4B |
| P/E (trailing) | 392.0 | 44.8 |
| Dividend yield | 0.00% | 3.58% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | CPSH | ESS |
|---|---|---|
| 2022 | -29.0% | -37.8% |
| 2023 | -12.6% | +22.0% |
| 2024 | -31.5% | +18.4% |
| 2025 | +91.9% | -5.0% |
| 2026 | +26.9% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPSH and ESS good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPSH and ESS?
The CPSH/ESS correlation stands at -0.18 on a 3-year window (1 year: -0.05, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is ESS a good diversifier for CPSH?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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/cpsh-vs-ess.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpsh-vs-ess/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPSH correlations · ESS correlations
