OABI vs OESX: Correlation
Measured on weekly returns over the past three years, OmniAb, Inc. (OABI) and Orion Energy Systems, Inc. (OESX) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OABI and OESX?
On 3 years of weekly data the OABI/OESX correlation comes out at 0.44, moderate. The past 12 months show a tighter link (0.63) than the 3-year average (0.44). The 5-year figure is 0.30, and annualized covariance runs at 2449.4 %².
Among the 12 assets we track against OABI, OESX ranks #6 by 3-year correlation. The last year tells two different stories: OESX led by 98.0 percentage points, +186.3% for OABI 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.
OABI vs OESX: side by side
| OABI (OmniAb, Inc.) | OESX (Orion Energy Systems, Inc.) | |
|---|---|---|
| 1-year return | +186.3% | +284.3% |
| 5-year return | -52.8% | -39.9% |
| Volatility (ann.) | 67.6% | 81.4% |
| Beta vs S&P 500 | 1.30 | 1.22 |
| Max drawdown (3Y) | -81.3% | -63.4% |
| Market cap | $0.7B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OABI | OESX |
|---|---|---|
| 2022 | -64.0% | -49.7% |
| 2023 | +71.4% | -52.2% |
| 2024 | -42.6% | -8.0% |
| 2025 | -47.7% | +92.3% |
| 2026 | +149.2% | +73.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OABI and OESX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OABI and OESX?
As of 2026-08-27, the correlation of weekly returns between OABI and OESX is 0.44 over 3 years, 0.63 over 1 year and 0.30 over 5 years.
Is OESX a good diversifier for OABI?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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: OABI correlations · OESX correlations
