ESOA vs ORN: Correlation
How closely do Energy Services of America Corporation (ESOA) and Orion Group Holdings, Inc. Common (ORN) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESOA and ORN?
Over the past 3 years, ESOA and ORN moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1674.5 %².
ORN is one of the assets that tracks ESOA most closely: it ranks #3 out of the 11 assets we track against ESOA. The last year tells two different stories: ORN led by 20.6 percentage points, +14.0% for ESOA against +34.6% for ORN.
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.
ESOA vs ORN: side by side
| ESOA (Energy Services of America Corporation) | ORN (Orion Group Holdings, Inc. Common) | |
|---|---|---|
| 1-year return | +14.0% | +34.6% |
| 5-year return | +517.2% | +77.6% |
| Volatility (ann.) | 70.1% | 65.3% |
| Beta vs S&P 500 | 0.86 | 1.64 |
| Max drawdown (3Y) | -57.4% | -57.6% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | 19.1 | 121.6 |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESOA | ORN |
|---|---|---|
| 2022 | -22.1% | -36.9% |
| 2023 | +141.3% | +107.6% |
| 2024 | +111.4% | +48.4% |
| 2025 | -34.4% | +35.6% |
| 2026 | +43.6% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESOA and ORN good diversifiers for each other?
Reasonably. At 0.37, ESOA and ORN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ESOA and ORN?
The ESOA/ORN correlation stands at 0.37 on a 3-year window (1 year: 0.38, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is ORN a good diversifier for ESOA?
Reasonably. At 0.37, ESOA and ORN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/esoa-vs-orn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/esoa-vs-orn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESOA correlations · ORN correlations
