APWC vs ELTX: Correlation
Measured on weekly returns over the past three years, Asia Pacific Wire & Cable Corporation Limited (APWC) and Elicio Therapeutics, Inc. (ELTX) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APWC and ELTX?
Over the past 3 years, APWC and ELTX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.54) than the 3-year average (-0.29). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1325.3 %².
Out of 11 assets tracked against APWC, ELTX lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with APWC ahead by 49.0 points (-22.1% versus -71.1%). One caveat on sizing: ELTX is 1.9 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.
APWC vs ELTX: side by side
| APWC (Asia Pacific Wire & Cable Corporation Limited) | ELTX (Elicio Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -22.1% | -71.1% |
| 5-year return | -59.0% | -97.2% |
| Volatility (ann.) | 48.8% | 93.6% |
| Beta vs S&P 500 | 0.50 | 0.68 |
| Max drawdown (3Y) | -42.4% | -81.4% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 5.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APWC | ELTX |
|---|---|---|
| 2022 | -29.4% | -72.0% |
| 2023 | -13.2% | +2.7% |
| 2024 | +17.6% | -38.8% |
| 2025 | +26.5% | +56.1% |
| 2026 | -24.2% | -62.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APWC and ELTX good diversifiers for each other?
Yes. With a correlation of -0.29, APWC and ELTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between APWC and ELTX?
The APWC/ELTX correlation stands at -0.29 on a 3-year window (1 year: -0.54, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is ELTX a good diversifier for APWC?
Yes. With a correlation of -0.29, APWC and ELTX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apwc-vs-eltx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apwc-vs-eltx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APWC correlations · ELTX correlations
