SLDP vs STEM: Correlation
Measured on weekly returns over the past three years, Solid Power, Inc. (SLDP) and Stem, Inc. (STEM) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLDP and STEM?
Across a 3-year window, the weekly returns of SLDP and STEM correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 6212.5 %².
STEM is one of the assets that tracks SLDP most closely: it ranks #3 out of the 23 assets we track against SLDP. Their recent paths diverged sharply: over the last 12 months SLDP outperformed by 18.5 percentage points (-46.4% for SLDP against -64.9% for STEM).
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.
SLDP vs STEM: side by side
| SLDP (Solid Power, Inc.) | STEM (Stem, Inc.) | |
|---|---|---|
| 1-year return | -46.4% | -64.9% |
| 5-year return | -76.1% | -98.9% |
| Volatility (ann.) | 87.4% | 129.9% |
| Beta vs S&P 500 | 1.88 | 2.49 |
| Max drawdown (3Y) | -76.5% | -95.5% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLDP | STEM |
|---|---|---|
| 2022 | -70.9% | -52.9% |
| 2023 | -42.9% | -56.6% |
| 2024 | +30.3% | -84.5% |
| 2025 | +124.9% | +24.8% |
| 2026 | -44.1% | -62.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLDP and STEM good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SLDP and STEM?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.50 over the last year and 0.52 over 5 years.
Is STEM a good diversifier for SLDP?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 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/sldp-vs-stem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sldp-vs-stem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SLDP correlations · STEM correlations
