EDSA vs HUBB: Correlation
How closely do Edesa Biotech, Inc. (EDSA) and Hubbell Incorporated (HUBB) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and HUBB?
On 3 years of weekly data the EDSA/HUBB correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.17). The 5-year figure is -0.07, and annualized covariance runs at -905.0 %².
Among the 30 assets we track against EDSA, HUBB ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EDSA ahead by 85.0 points (+91.7% versus +6.7%). Note the risk asymmetry: EDSA runs 6.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EDSA vs HUBB: side by side
| EDSA (Edesa Biotech, Inc.) | HUBB (Hubbell Incorporated) | |
|---|---|---|
| 1-year return | +91.7% | +6.7% |
| 5-year return | -87.4% | +142.6% |
| Volatility (ann.) | 190.4% | 28.3% |
| Beta vs S&P 500 | -0.03 | 1.10 |
| Max drawdown (3Y) | -87.3% | -32.6% |
| Market cap | – | $24.8B |
| P/E (trailing) | – | 27.9 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EDSA | HUBB |
|---|---|---|
| 2022 | -61.6% | +15.1% |
| 2023 | -69.8% | +42.4% |
| 2024 | -63.2% | +28.9% |
| 2025 | -15.5% | +7.4% |
| 2026 | +223.9% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and HUBB good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EDSA and HUBB?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.34 over the last year and -0.07 over 5 years.
Is HUBB a good diversifier for EDSA?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 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: EDSA correlations · HUBB correlations
