BULL vs EDVA: Correlation
Webull Corporation - Class A (BULL) and Endovia Health Sciences, Inc. (EDVA) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BULL and EDVA?
Across a 3-year window, the weekly returns of BULL and EDVA correlate at 0.44, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.44). Stretching to 5 years gives 0.42, with an annualized covariance of 5993.8 %².
Among the 16 assets we track against BULL, EDVA ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BULL outperformed by 61.7 percentage points (-33.7% for BULL against -95.4% for EDVA). One caveat on sizing: EDVA is 2.1 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.
BULL vs EDVA: side by side
| BULL (Webull Corporation - Class A) | EDVA (Endovia Health Sciences, Inc.) | |
|---|---|---|
| 1-year return | -33.7% | -95.4% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 80.3% | 170.0% |
| Beta vs S&P 500 | 0.42 | 1.54 |
| Max drawdown (3Y) | -92.6% | -99.7% |
| Market cap | $5.1B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BULL | EDVA |
|---|---|---|
| 2022 | – | -17.7% |
| 2023 | +6.3% | -42.6% |
| 2024 | +7.4% | -70.8% |
| 2025 | -33.2% | -89.3% |
| 2026 | +23.2% | -88.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BULL and EDVA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BULL and EDVA?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.15 over the last year and 0.42 over 5 years.
Is EDVA a good diversifier for BULL?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BULL correlations · EDVA correlations
