EDSA vs PH: Correlation
Edesa Biotech, Inc. (EDSA) and Parker Hannifin (PH) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and PH?
On 3 years of weekly data the EDSA/PH correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.20 over 3 years. The 5-year figure is -0.05, and annualized covariance runs at -1029.7 %².
By 3-year correlation, PH places #19 of the 30 assets tracked against EDSA. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 58.9 percentage points (+91.7% for EDSA against +32.8% for PH). Note the risk asymmetry: EDSA runs 7.2 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 PH: side by side
| EDSA (Edesa Biotech, Inc.) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +91.7% | +32.8% |
| 5-year return | -87.4% | +256.4% |
| Volatility (ann.) | 190.4% | 26.6% |
| Beta vs S&P 500 | -0.03 | 1.16 |
| Max drawdown (3Y) | -87.3% | -26.8% |
| Market cap | – | $127.5B |
| P/E (trailing) | – | 36.5 |
| Dividend yield | 0.00% | 0.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EDSA | PH |
|---|---|---|
| 2022 | -61.6% | -6.9% |
| 2023 | -69.8% | +60.8% |
| 2024 | -63.2% | +39.6% |
| 2025 | -15.5% | +39.5% |
| 2026 | +223.9% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and PH good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EDSA and PH?
The EDSA/PH correlation stands at -0.20 on a 3-year window (1 year: -0.41, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is PH a good diversifier for EDSA?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/edsa-vs-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edsa-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EDSA correlations · PH correlations
