LODE vs SES: Correlation
How closely do Comstock Inc. (LODE) and SES AI Corporation (SES) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LODE and SES?
Across a 3-year window, the weekly returns of LODE and SES correlate at 0.62, strong. The past 12 months show a weaker link (0.33) than the 3-year average (0.62). Stretching to 5 years gives 0.50, with an annualized covariance of 19077.1 %².
In LODE's tracked universe of 13 assets, SES sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months LODE outperformed by 96.9 percentage points (+45.9% for LODE against -51.0% for SES). Risk is not evenly split, since SES carries 2.8 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.
LODE vs SES: side by side
| LODE (Comstock Inc.) | SES (SES AI Corporation) | |
|---|---|---|
| 1-year return | +45.9% | -51.0% |
| 5-year return | -88.3% | -94.5% |
| Volatility (ann.) | 105.0% | 294.5% |
| Beta vs S&P 500 | 1.39 | 2.43 |
| Max drawdown (3Y) | -78.5% | -89.7% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LODE | SES |
|---|---|---|
| 2022 | -78.3% | -68.3% |
| 2023 | +96.4% | -41.9% |
| 2024 | +45.5% | +19.7% |
| 2025 | -53.0% | -17.8% |
| 2026 | -5.3% | -69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LODE and SES good diversifiers for each other?
Only partially. A correlation of 0.62 means LODE and SES share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LODE and SES?
As of 2026-08-27, the correlation of weekly returns between LODE and SES is 0.62 over 3 years, 0.33 over 1 year and 0.50 over 5 years.
Is SES a good diversifier for LODE?
Only partially. A correlation of 0.62 means LODE and SES share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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/lode-vs-ses.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lode-vs-ses/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LODE correlations · SES correlations
