DVA vs OESX: Correlation
How closely do DaVita (DVA) and Orion Energy Systems, Inc. (OESX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVA and OESX?
Over the past 3 years, DVA and OESX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.25 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -829.4 %².
By 3-year correlation, OESX places #32 of the 38 assets tracked against DVA. The last year tells two different stories: OESX led by 254.3 percentage points, +30.0% for DVA against +284.3% for OESX. Note the risk asymmetry: OESX runs 2.0 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.
DVA vs OESX: side by side
| DVA (DaVita) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | +30.0% | +284.3% |
| 5-year return | +36.4% | -39.9% |
| Volatility (ann.) | 40.9% | 81.4% |
| Beta vs S&P 500 | 0.38 | 1.22 |
| Max drawdown (3Y) | -41.4% | -63.4% |
| Market cap | $11.4B | $0.1B |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | DVA | OESX |
|---|---|---|
| 2022 | -34.4% | -49.7% |
| 2023 | +40.3% | -52.2% |
| 2024 | +42.8% | -8.0% |
| 2025 | -24.0% | +92.3% |
| 2026 | +57.5% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVA and OESX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between DVA and OESX?
The DVA/OESX correlation stands at -0.25 on a 3-year window (1 year: -0.37, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is OESX a good diversifier for DVA?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/dva-vs-oesx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dva-vs-oesx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DVA correlations · OESX correlations
