EHGO vs ICLN: Correlation
How closely do Eshallgo Inc. - Class A (EHGO) and iShares Global Clean Energy ETF (ICLN) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and ICLN?
Across a 3-year window, the weekly returns of EHGO and ICLN correlate at -0.18, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -528.8 %².
Among the 66 assets we track against EHGO, ICLN ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ICLN ahead by 115.7 points (-90.1% versus +25.6%). One caveat on sizing: EHGO is 5.3 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.
EHGO vs ICLN: side by side
| EHGO (Eshallgo Inc. - Class A) | ICLN (iShares Global Clean Energy ETF) | |
|---|---|---|
| 1-year return | -90.1% | +25.6% |
| 5-year return | n/a | -18.4% |
| Volatility (ann.) | 127.9% | 24.0% |
| Beta vs S&P 500 | -1.42 | 0.78 |
| Max drawdown (3Y) | -98.5% | -34.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.05% |
| Expense ratio | – | 0.39% |
| Assets under management | – | $2.3B |
| Sector / category | US Listed | ETF · Thematic |
ICLN, iShares's Miscellaneous Sector fund, carries $2.3B under management, 102 holdings, a 0.39% expense ratio, a 1.05% trailing dividend yield.
Year-by-year returns
| Year | EHGO | ICLN |
|---|---|---|
| 2022 | – | -5.4% |
| 2023 | – | -20.4% |
| 2024 | – | -25.7% |
| 2025 | -94.4% | +47.0% |
| 2026 | -65.9% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and ICLN good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and ICLN?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.25 over the last year and n/a over 5 years.
Is ICLN a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/ehgo-vs-icln.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ehgo-vs-icln/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EHGO correlations · ICLN correlations
