ANNX vs ELTK: Correlation
Annexon, Inc. (ANNX) and Eltek Ltd. (ELTK) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNX and ELTK?
Across a 3-year window, the weekly returns of ANNX and ELTK correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.21 over 3 years. Stretching to 5 years gives -0.13, with an annualized covariance of -996.1 %².
Among the 13 assets we track against ANNX, ELTK sits near the bottom by co-movement, at rank #11. The last year tells two different stories: ANNX led by 171.6 percentage points, +148.8% for ANNX against -22.8% for ELTK. Risk is not evenly split, since ANNX carries 1.8 times the volatility of the other side.
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.
ANNX vs ELTK: side by side
| ANNX (Annexon, Inc.) | ELTK (Eltek Ltd.) | |
|---|---|---|
| 1-year return | +148.8% | -22.8% |
| 5-year return | -68.9% | +27.7% |
| Volatility (ann.) | 92.8% | 50.9% |
| Beta vs S&P 500 | 1.72 | 0.40 |
| Max drawdown (3Y) | -82.3% | -65.7% |
| Market cap | $1.0B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNX | ELTK |
|---|---|---|
| 2022 | -55.0% | +15.0% |
| 2023 | -12.2% | +244.5% |
| 2024 | +13.0% | -20.7% |
| 2025 | -2.1% | -20.0% |
| 2026 | +4.6% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNX and ELTK good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANNX and ELTK?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.39 over the last year and -0.13 over 5 years.
Is ELTK a good diversifier for ANNX?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/annx-vs-eltk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/annx-vs-eltk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANNX correlations · ELTK correlations
