EHGO vs SQM: Correlation
How closely do Eshallgo Inc. - Class A (EHGO) and Sociedad Quimica y Minera S.A. (SQM) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and SQM?
On 3 years of weekly data the EHGO/SQM correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -1652.1 %².
By 3-year correlation, SQM places #61 of the 66 assets tracked against EHGO. Their recent paths diverged sharply: over the last 12 months SQM outperformed by 163.4 percentage points (-90.1% for EHGO against +73.3% for SQM). One caveat on sizing: EHGO is 2.8 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 SQM: side by side
| EHGO (Eshallgo Inc. - Class A) | SQM (Sociedad Quimica y Minera S.A.) | |
|---|---|---|
| 1-year return | -90.1% | +73.3% |
| 5-year return | n/a | +90.7% |
| Volatility (ann.) | 127.9% | 45.5% |
| Beta vs S&P 500 | -1.42 | 0.78 |
| Max drawdown (3Y) | -98.5% | -51.3% |
| Market cap | – | $23.0B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EHGO | SQM |
|---|---|---|
| 2022 | – | +71.8% |
| 2023 | – | -18.3% |
| 2024 | – | -39.4% |
| 2025 | -94.4% | +89.2% |
| 2026 | -65.9% | +18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and SQM good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and SQM?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.36 over the last year and n/a over 5 years.
Is SQM a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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
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Related comparisons
Hubs: EHGO correlations · SQM correlations
