HGTY vs OESX: Correlation
How closely do Hagerty, Inc. (HGTY) and Orion Energy Systems, Inc. (OESX) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HGTY and OESX?
Across a 3-year window, the weekly returns of HGTY and OESX correlate at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.40 over 3 years. Stretching to 5 years gives 0.20, with an annualized covariance of 976.2 %².
OESX is one of the assets that tracks HGTY most closely: it ranks #3 out of the 11 assets we track against HGTY. Correlation aside, the last 12 months split them widely, with OESX ahead by 264.7 points (+19.6% versus +284.3%). Risk is not evenly split, since OESX carries 2.7 times the volatility of the other side.
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.
HGTY vs OESX: side by side
| HGTY (Hagerty, Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | +19.6% | +284.3% |
| 5-year return | +32.9% | -39.9% |
| Volatility (ann.) | 29.7% | 81.4% |
| Beta vs S&P 500 | 0.63 | 1.22 |
| Max drawdown (3Y) | -31.1% | -63.4% |
| Market cap | $4.6B | $0.1B |
| P/E (trailing) | 102.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HGTY | OESX |
|---|---|---|
| 2022 | -40.7% | -49.7% |
| 2023 | -7.3% | -52.2% |
| 2024 | +23.7% | -8.0% |
| 2025 | +39.3% | +92.3% |
| 2026 | -0.9% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HGTY and OESX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HGTY and OESX?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.63 over the last year and 0.20 over 5 years.
Is OESX a good diversifier for HGTY?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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: HGTY correlations · OESX correlations
