GWH vs LGL: Correlation
Measured on weekly returns over the past three years, ESS Tech, Inc. (GWH) and LGL Group, Inc. (The) (LGL) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWH and LGL?
Over the past 3 years, GWH and LGL moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -754.9 %².
Out of 12 assets tracked against GWH, LGL lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months LGL outperformed by 91.2 percentage points (-76.2% for GWH against +15.0% for LGL). One caveat on sizing: GWH is 3.8 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.
GWH vs LGL: side by side
| GWH (ESS Tech, Inc.) | LGL (LGL Group, Inc. (The)) | |
|---|---|---|
| 1-year return | -76.2% | +15.0% |
| 5-year return | -99.8% | +78.3% |
| Volatility (ann.) | 122.3% | 32.1% |
| Beta vs S&P 500 | 1.11 | 0.18 |
| Max drawdown (3Y) | -98.8% | -27.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWH | LGL |
|---|---|---|
| 2022 | -78.8% | -5.8% |
| 2023 | -53.1% | +51.6% |
| 2024 | -65.6% | -2.8% |
| 2025 | -68.0% | -3.7% |
| 2026 | -80.9% | +28.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWH and LGL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between GWH and LGL?
As of 2026-08-27, the correlation of weekly returns between GWH and LGL is -0.19 over 3 years, -0.20 over 1 year and -0.07 over 5 years.
Is LGL a good diversifier for GWH?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
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Related comparisons
Hubs: GWH correlations · LGL correlations
