AREC vs EDVA: Correlation
Measured on weekly returns over the past three years, American Resources Corporation (AREC) and Endovia Health Sciences, Inc. (EDVA) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREC and EDVA?
Over the past 3 years, AREC and EDVA moved with a correlation of 0.52, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.52 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 12526.5 %².
By 3-year correlation, EDVA places #4 of the 16 assets tracked against AREC. Their recent paths diverged sharply: over the last 12 months AREC outperformed by 113.7 percentage points (+18.3% for AREC against -95.4% for EDVA).
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.
AREC vs EDVA: side by side
| AREC (American Resources Corporation) | EDVA (Endovia Health Sciences, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -95.4% |
| 5-year return | +18.9% | -99.9% |
| Volatility (ann.) | 141.0% | 170.0% |
| Beta vs S&P 500 | 1.27 | 1.54 |
| Max drawdown (3Y) | -78.1% | -99.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREC | EDVA |
|---|---|---|
| 2022 | -26.7% | -17.7% |
| 2023 | +12.9% | -42.6% |
| 2024 | -32.2% | -70.8% |
| 2025 | +145.5% | -89.3% |
| 2026 | +4.0% | -88.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREC and EDVA good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AREC and EDVA?
As of 2026-08-27, the correlation of weekly returns between AREC and EDVA is 0.52 over 3 years, 0.31 over 1 year and 0.36 over 5 years.
Is EDVA a good diversifier for AREC?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
A reading of 0.52 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/arec-vs-edva.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arec-vs-edva/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AREC correlations · EDVA correlations
