NVX vs. GWH
NVX (Novonix Ltd ADR) and GWH (ESS Tech, Inc.) are both stocks. Both operate in the Electrical Equipment & Parts industry within the Industrials sector. Over the past 3 years, NVX returned -36.29%/yr vs -63.49%/yr for GWH. At a 0.23 correlation, their price movements are largely independent.
Performance
NVX vs. GWH - Performance Comparison
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Returns By Period
In the year-to-date period, NVX achieves a -32.67% return, which is significantly higher than GWH's -51.06% return.
NVX
- 1D
- -2.16%
- 1M
- -5.56%
- YTD
- -32.67%
- 6M
- -39.29%
- 1Y
- -37.04%
- 3Y*
- -36.29%
- 5Y*
- —
- 10Y*
- —
GWH
- 1D
- -6.12%
- 1M
- -17.12%
- YTD
- -51.06%
- 6M
- -59.47%
- 1Y
- -30.83%
- 3Y*
- -63.49%
- 5Y*
- -63.81%
- 10Y*
- —
NVX vs. GWH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NVX Novonix Ltd ADR | -32.67% | -43.89% | -7.22% | -52.68% | -81.57% |
GWH ESS Tech, Inc. | -51.06% | -68.03% | -65.61% | -53.09% | -54.06% |
Correlation
The correlation between NVX and GWH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022 | 0.23 |
Fundamentals
NVX:
$118.70M
GWH:
$26.95M
NVX:
-$1.23
GWH:
-$2.40
NVX:
8.77
GWH:
15.65
NVX:
0.50
GWH:
2.85
NVX:
$12.86M
GWH:
$1.11M
NVX:
-$38.67M
GWH:
-$32.30M
NVX:
-$117.70M
GWH:
-$47.24M
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Return for Risk
NVX vs. GWH — Risk / Return Rank
NVX
GWH
NVX vs. GWH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novonix Ltd ADR (NVX) and ESS Tech, Inc. (GWH). 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.
| NVX | GWH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.18 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | -0.34 | -0.13 |
| Martin ratioReturn relative to average drawdown | -0.68 | -0.47 | -0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NVX | GWH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | -0.14 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.61 | -0.42 | -0.19 |
Drawdowns
NVX vs. GWH - Drawdown Comparison
The maximum NVX drawdown since its inception was -97.30%, roughly equal to the maximum GWH drawdown of -99.78%. Use the drawdown chart below to compare losses from any high point for NVX and GWH.
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Drawdown Indicators
| NVX | GWH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.30% | -99.78% | +2.48% |
Max Drawdown (1Y)Largest decline over 1 year | -79.59% | -91.46% | +11.87% |
Max Drawdown (3Y)Largest decline over 3 years | -82.25% | -97.41% | +15.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.78% | — |
Current DrawdownCurrent decline from peak | -96.94% | -99.74% | +2.80% |
Average DrawdownAverage peak-to-trough decline | -84.08% | -78.82% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.59% | 65.31% | -10.72% |
Volatility
NVX vs. GWH - Volatility Comparison
The current volatility for Novonix Ltd ADR (NVX) is 15.14%, while ESS Tech, Inc. (GWH) has a volatility of 47.06%. This indicates that NVX experiences smaller price fluctuations and is considered to be less risky than GWH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVX | GWH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.14% | 47.06% | -31.92% |
Volatility (6M)Calculated over the trailing 6-month period | 54.60% | 65.85% | -11.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.79% | 221.52% | -121.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.52% | 153.29% | -61.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.52% | 147.35% | -55.83% |
Dividends
NVX vs. GWH - Dividend Comparison
Neither NVX nor GWH has paid dividends to shareholders.
Financials
NVX vs. GWH - Financials Comparison
This section allows you to compare key financial metrics between Novonix Ltd ADR and ESS Tech, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
NVX and GWH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GWH has higher volatility (47.06%) compared to NVX (15.14%). In terms of maximum drawdown, NVX dropped -97.30% vs GWH's -99.78%.
GWH currently has the higher Sharpe Ratio (-0.14 vs -0.37), 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.
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