ABCL vs EVH: Correlation
AbCellera Biologics Inc. (ABCL) and Evolent Health, Inc (EVH) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and EVH?
Across a 3-year window, the weekly returns of ABCL and EVH correlate at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.38). Stretching to 5 years gives 0.30, with an annualized covariance of 2186.7 %².
Within ABCL's tracked universe of 17 assets, EVH comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ABCL outperformed by 237.4 percentage points (+185.1% for ABCL against -52.3% for EVH).
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.
ABCL vs EVH: side by side
| ABCL (AbCellera Biologics Inc.) | EVH (Evolent Health, Inc) | |
|---|---|---|
| 1-year return | +185.1% | -52.3% |
| 5-year return | -28.5% | -81.3% |
| Volatility (ann.) | 80.2% | 72.4% |
| Beta vs S&P 500 | 1.75 | 0.65 |
| Max drawdown (3Y) | -67.7% | -93.8% |
| Market cap | $4.0B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCL | EVH |
|---|---|---|
| 2022 | -29.2% | +1.5% |
| 2023 | -43.6% | +17.6% |
| 2024 | -48.7% | -65.9% |
| 2025 | +16.7% | -64.4% |
| 2026 | +262.6% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and EVH good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABCL and EVH?
The ABCL/EVH correlation stands at 0.38 on a 3-year window (1 year: 0.58, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is EVH a good diversifier for ABCL?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abcl-vs-evh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abcl-vs-evh/)
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Related comparisons
Hubs: ABCL correlations · EVH correlations
