NEGG vs WKHS: Correlation
Newegg Commerce, Inc. (NEGG) and Workhorse Group, Inc. (WKHS) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEGG and WKHS?
Across a 3-year window, the weekly returns of NEGG and WKHS correlate at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.58). Stretching to 5 years gives 0.56, with an annualized covariance of 16999.3 %².
In NEGG's tracked universe of 10 assets, WKHS sits right near the top at #3. The trailing year gives NEGG the advantage: -71.0% versus -80.6%, a 9.6-point spread.
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.
NEGG vs WKHS: side by side
| NEGG (Newegg Commerce, Inc.) | WKHS (Workhorse Group, Inc.) | |
|---|---|---|
| 1-year return | -71.0% | -80.6% |
| 5-year return | -95.1% | -100.0% |
| Volatility (ann.) | 184.2% | 157.8% |
| Beta vs S&P 500 | 2.34 | 1.44 |
| Max drawdown (3Y) | -90.3% | -99.9% |
| Market cap | $0.4B | – |
| P/E (trailing) | 68.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEGG | WKHS |
|---|---|---|
| 2022 | -87.4% | -65.1% |
| 2023 | -3.8% | -76.3% |
| 2024 | -68.3% | -90.3% |
| 2025 | +534.5% | -95.1% |
| 2026 | -65.2% | -37.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEGG and WKHS good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NEGG and WKHS?
The NEGG/WKHS correlation stands at 0.58 on a 3-year window (1 year: 0.16, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is WKHS a good diversifier for NEGG?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/negg-vs-wkhs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/negg-vs-wkhs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEGG correlations · WKHS correlations
