FEAM vs GWH: Correlation
How closely do 5E Advanced Materials, Inc. (FEAM) and ESS Tech, Inc. (GWH) 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 FEAM and GWH?
Over the past 3 years, FEAM and GWH moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 4588.0 %².
In FEAM's tracked universe of 10 assets, GWH sits right near the top at #3. Correlation aside, the last 12 months split them widely, with FEAM ahead by 25.9 points (-50.3% versus -76.2%).
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.
FEAM vs GWH: side by side
| FEAM (5E Advanced Materials, Inc.) | GWH (ESS Tech, Inc.) | |
|---|---|---|
| 1-year return | -50.3% | -76.2% |
| 5-year return | -99.8% | -99.8% |
| Volatility (ann.) | 100.5% | 122.3% |
| Beta vs S&P 500 | 1.66 | 1.11 |
| Max drawdown (3Y) | -98.6% | -98.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FEAM | GWH |
|---|---|---|
| 2022 | – | -78.8% |
| 2023 | -82.1% | -53.1% |
| 2024 | -54.6% | -65.6% |
| 2025 | -79.3% | -68.0% |
| 2026 | -44.3% | -80.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEAM and GWH good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FEAM and GWH?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.43 over the last year and 0.34 over 5 years.
Is GWH a good diversifier for FEAM?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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.
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Related comparisons
Hubs: FEAM correlations · GWH correlations
