EG vs ELV: Correlation
Everest Group (EG) and Elevance Health (ELV) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EG and ELV?
Over the past 3 years, EG and ELV moved with a correlation of 0.32, which is moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 197.9 %².
Among the 30 assets we track against EG, ELV ranks #17 by 3-year correlation. The last year tells two different stories: ELV led by 20.2 percentage points, +11.3% for EG against +31.5% for ELV. Across three years, the rolling one-year figure varied moderately, from 0.20 to 0.47.
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.
EG vs ELV: side by side
| EG (Everest Group) | ELV (Elevance Health) | |
|---|---|---|
| 1-year return | +11.3% | +31.5% |
| 5-year return | +57.2% | +15.7% |
| Volatility (ann.) | 22.2% | 28.0% |
| Beta vs S&P 500 | 0.28 | 0.37 |
| Max drawdown (3Y) | -23.8% | -50.4% |
| Market cap | $14.5B | $86.6B |
| P/E (trailing) | 8.0 | 17.8 |
| Dividend yield | 2.11% | 1.70% |
| Sector / category | Financials | Health Care |
Year-by-year returns
| Year | EG | ELV |
|---|---|---|
| 2022 | +23.7% | +11.8% |
| 2023 | +8.7% | -6.9% |
| 2024 | +4.6% | -20.7% |
| 2025 | -5.3% | -3.1% |
| 2026 | +12.7% | +15.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EG and ELV good diversifiers for each other?
Reasonably. At 0.32, EG and ELV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EG and ELV?
The EG/ELV correlation stands at 0.32 on a 3-year window (1 year: 0.32, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is ELV a good diversifier for EG?
Reasonably. At 0.32, EG and ELV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eg-vs-elv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eg-vs-elv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EG correlations · ELV correlations
