ALCO vs ELUT: Correlation
How closely do Alico, Inc. (ALCO) and Elutia, Inc. (ELUT) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALCO and ELUT?
Over the past 3 years, ALCO and ELUT moved with a correlation of 0.25, which is weak. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 539.2 %².
Among the 11 assets we track against ALCO, ELUT ranks #6 by 3-year correlation. The last year tells two different stories: ALCO led by 77.9 percentage points, +17.7% for ALCO against -60.2% for ELUT. One caveat on sizing: ELUT is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALCO vs ELUT: side by side
| ALCO (Alico, Inc.) | ELUT (Elutia, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | -60.2% |
| 5-year return | +16.5% | -89.2% |
| Volatility (ann.) | 26.2% | 81.4% |
| Beta vs S&P 500 | 0.35 | 0.14 |
| Max drawdown (3Y) | -19.6% | -89.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 199.1 | – |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALCO | ELUT |
|---|---|---|
| 2022 | -32.6% | -32.5% |
| 2023 | +22.8% | -49.2% |
| 2024 | -10.2% | +73.1% |
| 2025 | +41.0% | -81.5% |
| 2026 | +9.9% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALCO and ELUT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALCO and ELUT?
As of 2026-08-27, the correlation of weekly returns between ALCO and ELUT is 0.25 over 3 years, 0.35 over 1 year and 0.22 over 5 years.
Is ELUT a good diversifier for ALCO?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ALCO correlations · ELUT correlations
