GWH vs. TLRY

Last updated Aug 1, 2026

GWH (ESS Tech, Inc.) and TLRY (Tilray Brands, Inc.) are both stocks. GWH operates in Electrical Equipment & Parts (Industrials), while TLRY operates in Drug Manufacturers - Specialty & Generic (Healthcare). Over the past 5 years, GWH returned -65.34%/yr vs -50.06%/yr for TLRY. Their 0.32 correlation means their historical movements had little consistent relationship.

Performance

GWH vs. TLRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ESS Tech, Inc. (GWH) and Tilray Brands, Inc. (TLRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GWH achieves a -60.27% return, which is significantly lower than TLRY's -49.72% return.

GWH

• 1D: -1.53%
• 1M: -13.44%
• 6M: -57.31%
• YTD: -60.27%
• 1Y: -56.32%
• 3Y*: -69.92%
• 5Y*: -65.34%
• 10Y*: —
• ALL TIME*: -61.55%

TLRY

• 1D: 8.10%
• 1M: -1.73%
• 6M: -39.14%
• YTD: -49.72%
• 1Y: -20.17%
• 3Y*: -42.43%
• 5Y*: -50.06%
• 10Y*: —
• ALL TIME*: -38.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GWH ESS Tech, Inc.	$579.06K	$560.59K	$768.83K
TLRY Tilray Brands, Inc.	$22.99M	$19.43M	$19.08M

GWH vs. TLRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GWH ESS Tech, Inc.	-60.27%	-68.03%	-65.61%	-53.09%	-78.76%	12.16%
TLRY Tilray Brands, Inc.	-49.72%	-32.11%	-42.17%	-14.50%	-61.74%	-14.89%

Correlation

The correlation between GWH and TLRY is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.33
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.32

Fundamentals

Market Cap GWH : $9.41M TLRY : $544.81M
EPS GWH : -$2.15 TLRY : -$0.95
PS Ratio GWH : 14.19 TLRY : 0.55
PB Ratio GWH : 2.32 TLRY : 0.31
Total Revenue (TTM) GWH : $1.11M TLRY : $915.45M
Gross Profit (TTM) GWH : -$32.30M TLRY : $260.44M
EBITDA (TTM) GWH : -$47.24M TLRY : -$41.47M

Return for Risk

GWH vs. TLRY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GWH

GWH Risk / Return Rank: 36
GWH Sharpe Ratio Rank: 31
GWH Sortino Ratio Rank: 52
GWH Omega Ratio Rank: 51
GWH Calmar Ratio Rank: 19
GWH Martin Ratio Rank: 28

TLRY

TLRY Risk / Return Rank: 42
TLRY Sharpe Ratio Rank: 37
TLRY Sortino Ratio Rank: 52
TLRY Omega Ratio Rank: 49
TLRY Calmar Ratio Rank: 36
TLRY Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GWH vs. TLRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ESS Tech, Inc. (GWH) and Tilray Brands, Inc. (TLRY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GWH	TLRY	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	-0.18	-0.10
Sortino ratio: Return per unit of downside risk	0.76	0.71	+0.05
Omega ratio: Gain probability vs. loss probability	1.09	1.08	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.66	-0.27	-0.39
Martin ratio: Return relative to average drawdown	-0.83	-0.38	-0.45

GWH vs. TLRY - Sharpe Ratio Comparison

The current GWH Sharpe Ratio is -0.28, which is lower than the TLRY Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of GWH and TLRY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GWH vs. TLRY - Drawdown Comparison

The maximum GWH drawdown since its inception was -99.80%, roughly equal to the maximum TLRY drawdown of -99.83%. Use the drawdown chart below to compare losses from any high point for GWH and TLRY.

Drawdown Indicators

	GWH	TLRY	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-99.83%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-92.10%	-81.52%	-10.58%
Max Drawdown (3Y) Largest decline over 3 years	-97.61%	-89.12%	-8.49%
Max Drawdown (5Y) Largest decline over 5 years	-99.80%	-97.57%	-2.23%
Current Drawdown Current decline from peak	-99.79%	-99.79%	0.00%
Average Drawdown Average peak-to-trough decline	-79.36%	-91.53%	+12.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.11%	57.91%	+15.20%

Volatility

GWH vs. TLRY - Volatility Comparison

ESS Tech, Inc. (GWH) has a higher volatility of 33.80% compared to Tilray Brands, Inc. (TLRY) at 14.15%. This indicates that GWH's price experiences larger fluctuations and is considered to be riskier than TLRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWH	TLRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.80%	14.15%	+19.65%
Volatility (6M) Calculated over the trailing 6-month period	74.53%	39.06%	+35.47%
Volatility (1Y) Calculated over the trailing 1-year period	215.17%	123.40%	+91.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	154.61%	94.05%	+60.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.43%	111.08%	+35.35%

Dividends

GWH vs. TLRY - Dividend Comparison

Neither GWH nor TLRY has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both GWH and TLRY in my portfolio?

GWH and TLRY have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GWH or TLRY?

GWH has higher volatility (33.80%) compared to TLRY (14.15%). In terms of maximum drawdown, GWH dropped -99.80% vs TLRY's -99.83%.

Which has better risk-adjusted returns?

TLRY currently has the higher Sharpe Ratio (-0.18 vs -0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.