COCP vs ELAB: Correlation
How closely do Cocrystal Pharma, Inc. (COCP) and PMGC Holdings Inc. (ELAB) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COCP and ELAB?
Across a 3-year window, the weekly returns of COCP and ELAB correlate at 0.31, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.31). Stretching to 5 years gives n/a, with an annualized covariance of 4622.6 %².
Among the 10 assets we track against COCP, ELAB ranks #5 by 3-year correlation. The last year tells two different stories: COCP led by 73.2 percentage points, -26.5% for COCP against -99.7% for ELAB. One caveat on sizing: ELAB is 2.6 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.
COCP vs ELAB: side by side
| COCP (Cocrystal Pharma, Inc.) | ELAB (PMGC Holdings Inc.) | |
|---|---|---|
| 1-year return | -26.5% | -99.7% |
| 5-year return | -91.4% | n/a |
| Volatility (ann.) | 75.4% | 195.6% |
| Beta vs S&P 500 | 1.06 | 2.50 |
| Max drawdown (3Y) | -74.8% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COCP | ELAB |
|---|---|---|
| 2022 | -75.0% | – |
| 2023 | -11.8% | – |
| 2024 | +17.4% | -99.4% |
| 2025 | -51.5% | -97.4% |
| 2026 | +16.3% | -98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COCP and ELAB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COCP and ELAB?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.52 over the last year and n/a over 5 years.
Is ELAB a good diversifier for COCP?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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.
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Related comparisons
Hubs: COCP correlations · ELAB correlations
