AD vs ELMD: Correlation
How closely do Array Digital Infrastructure, Inc. (AD) and Electromed, Inc. (ELMD) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AD and ELMD?
On 3 years of weekly data the AD/ELMD correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.25 over 3. The 5-year figure is -0.14, and annualized covariance runs at -518.5 %².
Out of 13 assets tracked against AD, ELMD lands near the bottom at #11. The last year tells two different stories: ELMD led by 22.0 percentage points, -0.3% for AD against +21.7% for ELMD.
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.
AD vs ELMD: side by side
| AD (Array Digital Infrastructure, Inc.) | ELMD (Electromed, Inc.) | |
|---|---|---|
| 1-year return | -0.3% | +21.7% |
| 5-year return | +142.7% | +144.2% |
| Volatility (ann.) | 42.1% | 48.9% |
| Beta vs S&P 500 | 0.68 | 0.63 |
| Max drawdown (3Y) | -32.0% | -48.9% |
| Market cap | $3.1B | $0.3B |
| P/E (trailing) | 4.6 | 24.5 |
| Dividend yield | 30.85% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AD | ELMD |
|---|---|---|
| 2022 | -33.9% | -19.3% |
| 2023 | +99.2% | +4.0% |
| 2024 | +51.0% | +170.9% |
| 2025 | +22.6% | -1.5% |
| 2026 | +1.0% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AD and ELMD good diversifiers for each other?
Yes. With a correlation of -0.25, AD and ELMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AD and ELMD?
The AD/ELMD correlation stands at -0.25 on a 3-year window (1 year: -0.29, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is ELMD a good diversifier for AD?
Yes. With a correlation of -0.25, AD and ELMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/ad-vs-elmd.json
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Related comparisons
Hubs: AD correlations · ELMD correlations
