DWSN vs EVI: Correlation
Measured on weekly returns over the past three years, Dawson Geophysical Company (DWSN) and EVI Industries, Inc. (EVI) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DWSN and EVI?
Over the past 3 years, DWSN and EVI moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.24). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -1024.1 %².
Among the 17 assets we track against DWSN, EVI sits near the bottom by co-movement, at rank #13. The last year tells two different stories: DWSN led by 139.5 percentage points, +93.5% for DWSN against -46.0% for EVI. One caveat on sizing: DWSN 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.
DWSN vs EVI: side by side
| DWSN (Dawson Geophysical Company) | EVI (EVI Industries, Inc.) | |
|---|---|---|
| 1-year return | +93.5% | -46.0% |
| 5-year return | +93.2% | -38.2% |
| Volatility (ann.) | 86.8% | 50.2% |
| Beta vs S&P 500 | -0.14 | 1.05 |
| Max drawdown (3Y) | -64.3% | -59.0% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 27.1 | 32.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DWSN | EVI |
|---|---|---|
| 2022 | -15.5% | -23.6% |
| 2023 | -6.6% | +0.5% |
| 2024 | -14.2% | -30.0% |
| 2025 | +16.4% | +52.2% |
| 2026 | +108.3% | -40.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DWSN and EVI good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DWSN and EVI?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.39 over the last year and -0.14 over 5 years.
Is EVI a good diversifier for DWSN?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/dwsn-vs-evi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dwsn-vs-evi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DWSN correlations · EVI correlations
