EDSA vs PRAA: Correlation
Edesa Biotech, Inc. (EDSA) and PRA Group, Inc. (PRAA) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and PRAA?
Over the past 3 years, EDSA and PRAA moved with a correlation of 0.45, which is moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.45). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 5308.3 %².
By 3-year correlation, PRAA places #7 of the 30 assets tracked against EDSA. Correlation aside, the last 12 months split them widely, with EDSA ahead by 78.8 points (+91.7% versus +12.9%). Risk is not evenly split, since EDSA carries 3.1 times the volatility of the other side.
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 PRAA: side by side
| EDSA (Edesa Biotech, Inc.) | PRAA (PRA Group, Inc.) | |
|---|---|---|
| 1-year return | +91.7% | +12.9% |
| 5-year return | -87.4% | -53.3% |
| Volatility (ann.) | 190.4% | 62.0% |
| Beta vs S&P 500 | -0.03 | 1.15 |
| Max drawdown (3Y) | -87.3% | -62.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | PRAA |
|---|---|---|
| 2022 | -61.6% | -32.7% |
| 2023 | -69.8% | -22.4% |
| 2024 | -63.2% | -20.3% |
| 2025 | -15.5% | -15.3% |
| 2026 | +223.9% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and PRAA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EDSA and PRAA?
As of 2026-08-27, the correlation of weekly returns between EDSA and PRAA is 0.45 over 3 years, 0.59 over 1 year and 0.39 over 5 years.
Is PRAA a good diversifier for EDSA?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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: EDSA correlations · PRAA correlations
