EFOI vs WINA: Correlation
Energy Focus, Inc. (EFOI) and Winmark Corporation (WINA) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFOI and WINA?
Over the past 3 years, EFOI and WINA moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1404.3 %².
Out of 17 assets tracked against EFOI, WINA lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months EFOI outperformed by 37.5 percentage points (+13.2% for EFOI against -24.3% for WINA). Note the risk asymmetry: EFOI runs 4.5 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.
EFOI vs WINA: side by side
| EFOI (Energy Focus, Inc.) | WINA (Winmark Corporation) | |
|---|---|---|
| 1-year return | +13.2% | -24.3% |
| 5-year return | -87.5% | +89.5% |
| Volatility (ann.) | 158.7% | 35.4% |
| Beta vs S&P 500 | 1.96 | 0.47 |
| Max drawdown (3Y) | -58.2% | -34.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 30.4 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFOI | WINA |
|---|---|---|
| 2022 | -92.5% | -2.8% |
| 2023 | -32.6% | +82.6% |
| 2024 | -21.2% | -3.3% |
| 2025 | +94.1% | +6.4% |
| 2026 | +25.5% | -16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFOI and WINA good diversifiers for each other?
Yes. With a correlation of -0.25, EFOI and WINA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EFOI and WINA?
The EFOI/WINA correlation stands at -0.25 on a 3-year window (1 year: -0.29, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is WINA a good diversifier for EFOI?
Yes. With a correlation of -0.25, EFOI and WINA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/efoi-vs-wina.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efoi-vs-wina/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFOI correlations · WINA correlations
