COR vs ELA: Correlation
Cencora (COR) and Envela Corporation (ELA) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COR and ELA?
On 3 years of weekly data the COR/ELA correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.25). The 5-year figure is -0.15, and annualized covariance runs at -313.1 %².
Within COR's tracked universe of 43 assets, ELA comes in at #31 by 3-year correlation. The last year tells two different stories: ELA led by 78.1 percentage points, +11.4% for COR against +89.5% for ELA. One caveat on sizing: ELA 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.
COR vs ELA: side by side
| COR (Cencora) | ELA (Envela Corporation) | |
|---|---|---|
| 1-year return | +11.4% | +89.5% |
| 5-year return | +188.6% | +229.3% |
| Volatility (ann.) | 21.9% | 56.3% |
| Beta vs S&P 500 | 0.08 | 0.61 |
| Max drawdown (3Y) | -32.4% | -51.8% |
| Market cap | $61.3B | $0.4B |
| P/E (trailing) | 24.3 | 16.6 |
| Dividend yield | 0.72% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COR | ELA |
|---|---|---|
| 2022 | +26.3% | +29.2% |
| 2023 | +25.3% | -7.6% |
| 2024 | +10.4% | +47.7% |
| 2025 | +51.5% | +86.4% |
| 2026 | -4.3% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COR and ELA good diversifiers for each other?
Yes. With a correlation of -0.25, COR and ELA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COR and ELA?
The COR/ELA correlation stands at -0.25 on a 3-year window (1 year: -0.45, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is ELA a good diversifier for COR?
Yes. With a correlation of -0.25, COR and ELA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/cor-vs-ela.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cor-vs-ela/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COR correlations · ELA correlations
