BAH vs ESLA: Correlation
How closely do Booz Allen Hamilton Holding Corporation (BAH) and Estrella Immunopharma, Inc. (ESLA) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAH and ESLA?
On 3 years of weekly data the BAH/ESLA correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.22). The 5-year figure is -0.14, and annualized covariance runs at -930.5 %².
ESLA is close to the least connected end of BAH's tracked universe, ranking #9 of 12. On 12-month performance ESLA holds a 7.2-point edge, -30.4% against -23.2%. One caveat on sizing: ESLA is 3.4 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.
BAH vs ESLA: side by side
| BAH (Booz Allen Hamilton Holding Corporation) | ESLA (Estrella Immunopharma, Inc.) | |
|---|---|---|
| 1-year return | -30.4% | -23.2% |
| 5-year return | +1.1% | -92.6% |
| Volatility (ann.) | 35.2% | 120.6% |
| Beta vs S&P 500 | 0.58 | 1.20 |
| Max drawdown (3Y) | -66.6% | -96.7% |
| Market cap | $9.0B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 3.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAH | ESLA |
|---|---|---|
| 2022 | +25.7% | +3.8% |
| 2023 | +24.5% | -89.2% |
| 2024 | +2.0% | +8.1% |
| 2025 | -33.0% | +30.0% |
| 2026 | -9.2% | -53.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAH and ESLA good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAH and ESLA?
The BAH/ESLA correlation stands at -0.22 on a 3-year window (1 year: -0.09, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is ESLA a good diversifier for BAH?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/bah-vs-esla.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bah-vs-esla/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAH correlations · ESLA correlations
