LMB vs OESX: Correlation
Measured on weekly returns over the past three years, Limbach Holdings, Inc. (LMB) and Orion Energy Systems, Inc. (OESX) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMB and OESX?
Across a 3-year window, the weekly returns of LMB and OESX correlate at -0.32, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.32). Stretching to 5 years gives -0.18, with an annualized covariance of -1567.8 %².
OESX is close to the least connected end of LMB's tracked universe, ranking #11 of 12. The last year tells two different stories: OESX led by 351.2 percentage points, -66.9% for LMB against +284.3% for OESX.
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.
LMB vs OESX: side by side
| LMB (Limbach Holdings, Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | -66.9% | +284.3% |
| 5-year return | +417.7% | -39.9% |
| Volatility (ann.) | 60.8% | 81.4% |
| Beta vs S&P 500 | 1.22 | 1.22 |
| Max drawdown (3Y) | -72.1% | -63.4% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LMB | OESX |
|---|---|---|
| 2022 | +15.7% | -49.7% |
| 2023 | +336.8% | -52.2% |
| 2024 | +88.1% | -8.0% |
| 2025 | -9.0% | +92.3% |
| 2026 | -46.4% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMB and OESX good diversifiers for each other?
Yes. With a correlation of -0.32, LMB and OESX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LMB and OESX?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.50 over the last year and -0.18 over 5 years.
Is OESX a good diversifier for LMB?
Yes. With a correlation of -0.32, LMB and OESX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
A reading of -0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lmb-vs-oesx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lmb-vs-oesx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LMB correlations · OESX correlations
