EGAN vs GWH: Correlation
Measured on weekly returns over the past three years, eGain Corporation (EGAN) and ESS Tech, Inc. (GWH) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGAN and GWH?
Over the past 3 years, EGAN and GWH moved with a correlation of 0.41, which is moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.41). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 2472.1 %².
GWH is one of the assets that tracks EGAN most closely: it ranks #2 out of the 10 assets we track against EGAN. Correlation aside, the last 12 months split them widely, with EGAN ahead by 94.9 points (+18.7% versus -76.2%). Note the risk asymmetry: GWH runs 2.5 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.
EGAN vs GWH: side by side
| EGAN (eGain Corporation) | GWH (ESS Tech, Inc.) | |
|---|---|---|
| 1-year return | +18.7% | -76.2% |
| 5-year return | -36.1% | -99.8% |
| Volatility (ann.) | 49.6% | 122.3% |
| Beta vs S&P 500 | 0.86 | 1.11 |
| Max drawdown (3Y) | -60.5% | -98.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 5.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGAN | GWH |
|---|---|---|
| 2022 | -9.5% | -78.8% |
| 2023 | -7.8% | -53.1% |
| 2024 | -25.2% | -65.6% |
| 2025 | +65.2% | -68.0% |
| 2026 | -27.3% | -80.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGAN and GWH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EGAN and GWH?
The EGAN/GWH correlation stands at 0.41 on a 3-year window (1 year: 0.52, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is GWH a good diversifier for EGAN?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EGAN correlations · GWH correlations
