EDVA vs MSGM: Correlation
How closely do Endovia Health Sciences, Inc. (EDVA) and Motorsport Games Inc. (MSGM) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDVA and MSGM?
Across a 3-year window, the weekly returns of EDVA and MSGM correlate at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.05 versus 0.58 over 3 years. Stretching to 5 years gives 0.18, with an annualized covariance of 15721.0 %².
Few assets follow EDVA as closely as MSGM, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months MSGM outperformed by 129.4 percentage points (-95.4% for EDVA against +34.0% for MSGM).
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.
EDVA vs MSGM: side by side
| EDVA (Endovia Health Sciences, Inc.) | MSGM (Motorsport Games Inc.) | |
|---|---|---|
| 1-year return | -95.4% | +34.0% |
| 5-year return | -99.9% | -96.2% |
| Volatility (ann.) | 170.0% | 159.9% |
| Beta vs S&P 500 | 1.54 | -0.11 |
| Max drawdown (3Y) | -99.7% | -81.5% |
| Market cap | – | – |
| P/E (trailing) | – | 13.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDVA | MSGM |
|---|---|---|
| 2022 | -17.7% | -87.8% |
| 2023 | -42.6% | -25.5% |
| 2024 | -70.8% | -56.6% |
| 2025 | -89.3% | +136.6% |
| 2026 | -88.4% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDVA and MSGM good diversifiers for each other?
Only partially. A correlation of 0.58 means EDVA and MSGM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EDVA and MSGM?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with -0.05 over the last year and 0.18 over 5 years.
Is MSGM a good diversifier for EDVA?
Only partially. A correlation of 0.58 means EDVA and MSGM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/edva-vs-msgm.json
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[](https://www.pairbook.io/pair/edva-vs-msgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EDVA correlations · MSGM correlations
