HYFM vs OESX: Correlation
How closely do Hydrofarm Holdings Group, Inc. (HYFM) and Orion Energy Systems, Inc. (OESX) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYFM and OESX?
Across a 3-year window, the weekly returns of HYFM and OESX correlate at 0.48, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.71 versus 0.48 over 3 years. Stretching to 5 years gives 0.43, with an annualized covariance of 5818.8 %².
Within HYFM's tracked universe of 19 assets, OESX comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OESX outperformed by 364.8 percentage points (-80.5% for HYFM against +284.3% for OESX). One caveat on sizing: HYFM is 1.8 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.
HYFM vs OESX: side by side
| HYFM (Hydrofarm Holdings Group, Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | -80.5% | +284.3% |
| 5-year return | -99.8% | -39.9% |
| Volatility (ann.) | 148.0% | 81.4% |
| Beta vs S&P 500 | 2.71 | 1.22 |
| Max drawdown (3Y) | -96.6% | -63.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYFM | OESX |
|---|---|---|
| 2022 | -94.5% | -49.7% |
| 2023 | -40.8% | -52.2% |
| 2024 | -36.8% | -8.0% |
| 2025 | -74.0% | +92.3% |
| 2026 | -41.1% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYFM and OESX good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HYFM and OESX?
As of 2026-08-27, the correlation of weekly returns between HYFM and OESX is 0.48 over 3 years, 0.71 over 1 year and 0.43 over 5 years.
Is OESX a good diversifier for HYFM?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hyfm-vs-oesx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hyfm-vs-oesx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYFM correlations · OESX correlations
