ACGL vs ELDN: Correlation
Measured on weekly returns over the past three years, Arch Capital Group (ACGL) and Eledon Pharmaceuticals, Inc. (ELDN) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACGL and ELDN?
Across a 3-year window, the weekly returns of ACGL and ELDN correlate at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -493.1 %².
Among the 36 assets we track against ACGL, ELDN sits near the bottom by co-movement, at rank #36. The last year tells two different stories: ELDN led by 21.0 percentage points, +7.7% for ACGL against +28.7% for ELDN. Note the risk asymmetry: ELDN runs 3.8 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.
ACGL vs ELDN: side by side
| ACGL (Arch Capital Group) | ELDN (Eledon Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +7.7% | +28.7% |
| 5-year return | +151.8% | -58.7% |
| Volatility (ann.) | 21.5% | 82.7% |
| Beta vs S&P 500 | 0.28 | 1.13 |
| Max drawdown (3Y) | -22.4% | -73.8% |
| Market cap | $33.7B | $0.3B |
| P/E (trailing) | 7.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ACGL | ELDN |
|---|---|---|
| 2022 | +41.2% | -48.3% |
| 2023 | +18.3% | -21.1% |
| 2024 | +30.8% | +128.9% |
| 2025 | +3.9% | -63.3% |
| 2026 | +3.0% | +119.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACGL and ELDN good diversifiers for each other?
Yes. With a correlation of -0.28, ACGL and ELDN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACGL and ELDN?
As of 2026-08-27, the correlation of weekly returns between ACGL and ELDN is -0.28 over 3 years, -0.25 over 1 year and -0.13 over 5 years.
Is ELDN a good diversifier for ACGL?
Yes. With a correlation of -0.28, ACGL and ELDN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/acgl-vs-eldn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acgl-vs-eldn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACGL correlations · ELDN correlations
