SES vs TRUG: Correlation
Measured on weekly returns over the past three years, SES AI Corporation (SES) and TruGolf Holdings, Inc. (TRUG) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SES and TRUG?
Over the past 3 years, SES and TRUG moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.42 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 14239.6 %².
Within SES's tracked universe of 35 assets, TRUG comes in at #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SES ahead by 47.6 points (-51.0% versus -98.6%). Note the risk asymmetry: SES runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SES vs TRUG: side by side
| SES (SES AI Corporation) | TRUG (TruGolf Holdings, Inc.) | |
|---|---|---|
| 1-year return | -51.0% | -98.6% |
| 5-year return | -94.5% | -100.0% |
| Volatility (ann.) | 294.5% | 114.0% |
| Beta vs S&P 500 | 2.43 | 0.84 |
| Max drawdown (3Y) | -89.7% | -100.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SES | TRUG |
|---|---|---|
| 2022 | -68.3% | +8.1% |
| 2023 | -41.9% | +9.7% |
| 2024 | +19.7% | -94.2% |
| 2025 | -17.8% | -97.8% |
| 2026 | -69.5% | -91.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SES and TRUG good diversifiers for each other?
Reasonably. At 0.42, SES and TRUG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SES and TRUG?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with -0.10 over the last year and 0.40 over 5 years.
Is TRUG a good diversifier for SES?
Reasonably. At 0.42, SES and TRUG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/ses-vs-trug.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ses-vs-trug/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SES correlations · TRUG correlations
