BIAF vs ELMD: Correlation
bioAffinity Technologies, Inc. (BIAF) and Electromed, Inc. (ELMD) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIAF and ELMD?
On 3 years of weekly data the BIAF/ELMD correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.48 versus -0.31 over 3 years. The 5-year figure is -0.27, and annualized covariance runs at -10331.7 %².
ELMD is close to the least connected end of BIAF's tracked universe, ranking #21 of 24. The last year tells two different stories: ELMD led by 53.7 percentage points, -32.0% for BIAF against +21.7% for ELMD. One caveat on sizing: BIAF is 14.1 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.
BIAF vs ELMD: side by side
| BIAF (bioAffinity Technologies, Inc.) | ELMD (Electromed, Inc.) | |
|---|---|---|
| 1-year return | -32.0% | +21.7% |
| 5-year return | n/a | +144.2% |
| Volatility (ann.) | 691.4% | 48.9% |
| Beta vs S&P 500 | -2.10 | 0.63 |
| Max drawdown (3Y) | -99.6% | -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 | BIAF | ELMD |
|---|---|---|
| 2022 | – | -19.3% |
| 2023 | -8.1% | +4.0% |
| 2024 | -38.1% | +170.9% |
| 2025 | -95.7% | -1.5% |
| 2026 | +328.8% | +3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIAF and ELMD good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BIAF and ELMD?
The BIAF/ELMD correlation stands at -0.31 on a 3-year window (1 year: -0.48, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is ELMD a good diversifier for BIAF?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/biaf-vs-elmd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/biaf-vs-elmd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIAF correlations · ELMD correlations
