EVGO vs USGO: Correlation
Measured on weekly returns over the past three years, EVgo Inc. (EVGO) and U.S. GoldMining Inc. (USGO) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVGO and USGO?
Across a 3-year window, the weekly returns of EVGO and USGO correlate at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.42 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 3078.3 %².
By 3-year correlation, USGO places #6 of the 13 assets tracked against EVGO. The last year tells two different stories: USGO led by 76.4 percentage points, -64.4% for EVGO against +12.0% for USGO.
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.
EVGO vs USGO: side by side
| EVGO (EVgo Inc.) | USGO (U.S. GoldMining Inc.) | |
|---|---|---|
| 1-year return | -64.4% | +12.0% |
| 5-year return | -84.3% | n/a |
| Volatility (ann.) | 85.3% | 85.5% |
| Beta vs S&P 500 | 1.93 | 1.08 |
| Max drawdown (3Y) | -84.1% | -53.7% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVGO | USGO |
|---|---|---|
| 2022 | -55.0% | – |
| 2023 | -19.9% | – |
| 2024 | +13.1% | +17.9% |
| 2025 | -28.1% | +2.4% |
| 2026 | -50.7% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVGO and USGO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EVGO and USGO?
As of 2026-08-27, the correlation of weekly returns between EVGO and USGO is 0.42 over 3 years, 0.23 over 1 year and n/a over 5 years.
Is USGO a good diversifier for EVGO?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/evgo-vs-usgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evgo-vs-usgo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVGO correlations · USGO correlations
