ASBP vs ELMD: Correlation
Aspire Biopharma Holdings, Inc. (ASBP) and Electromed, Inc. (ELMD) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASBP and ELMD?
Across a 3-year window, the weekly returns of ASBP and ELMD correlate at 0.38, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.38). Stretching to 5 years gives 0.34, with an annualized covariance of 31765.7 %².
Within ASBP's tracked universe of 70 assets, ELMD comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ELMD outperformed by 83.0 percentage points (-61.3% for ASBP against +21.7% for ELMD). One caveat on sizing: ASBP is 34.8 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.
ASBP vs ELMD: side by side
| ASBP (Aspire Biopharma Holdings, Inc.) | ELMD (Electromed, Inc.) | |
|---|---|---|
| 1-year return | -61.3% | +21.7% |
| 5-year return | -97.9% | +144.2% |
| Volatility (ann.) | 1699.4% | 48.9% |
| Beta vs S&P 500 | 0.59 | 0.63 |
| Max drawdown (3Y) | -100.0% | -48.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 24.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASBP | ELMD |
|---|---|---|
| 2022 | – | -19.3% |
| 2023 | +5.7% | +4.0% |
| 2024 | +5.6% | +170.9% |
| 2025 | -98.9% | -1.5% |
| 2026 | +56.4% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASBP and ELMD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASBP and ELMD?
The ASBP/ELMD correlation stands at 0.38 on a 3-year window (1 year: 0.61, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is ELMD a good diversifier for ASBP?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
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Related comparisons
Hubs: ASBP correlations · ELMD correlations
