EHGO vs ON: Correlation
Eshallgo Inc. - Class A (EHGO) and ON Semiconductor (ON) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and ON?
Over the past 3 years, EHGO and ON moved with a correlation of -0.23, 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 -0.23 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1500.3 %².
Among the 66 assets we track against EHGO, ON ranks #44 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ON ahead by 136.1 points (-90.1% versus +46.0%). Risk is not evenly split, since EHGO carries 2.6 times the volatility of the other side.
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 ON: side by side
| EHGO (Eshallgo Inc. - Class A) | ON (ON Semiconductor) | |
|---|---|---|
| 1-year return | -90.1% | +46.0% |
| 5-year return | n/a | +65.2% |
| Volatility (ann.) | 127.9% | 49.2% |
| Beta vs S&P 500 | -1.42 | 1.61 |
| Max drawdown (3Y) | -98.5% | -67.9% |
| Market cap | – | $29.1B |
| P/E (trailing) | – | 47.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EHGO | ON |
|---|---|---|
| 2022 | – | -8.2% |
| 2023 | – | +33.9% |
| 2024 | – | -24.5% |
| 2025 | -94.4% | -14.1% |
| 2026 | -65.9% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and ON good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and ON?
As of 2026-08-27, the correlation of weekly returns between EHGO and ON is -0.23 over 3 years, -0.37 over 1 year and n/a over 5 years.
Is ON a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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/ehgo-vs-on.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ehgo-vs-on/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EHGO correlations · ON correlations
