ELA vs VMAR: Correlation
How closely do Envela Corporation (ELA) and Vision Marine Technologies Inc. (VMAR) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELA and VMAR?
On 3 years of weekly data the ELA/VMAR correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.25 over 3. The 5-year figure is -0.15, and annualized covariance runs at -1575.3 %².
Among the 12 assets we track against ELA, VMAR sits near the bottom by co-movement, at rank #11. The last year tells two different stories: ELA led by 189.4 percentage points, +89.5% for ELA against -99.9% for VMAR. One caveat on sizing: VMAR is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ELA vs VMAR: side by side
| ELA (Envela Corporation) | VMAR (Vision Marine Technologies Inc.) | |
|---|---|---|
| 1-year return | +89.5% | -99.9% |
| 5-year return | +229.3% | -100.0% |
| Volatility (ann.) | 56.3% | 110.6% |
| Beta vs S&P 500 | 0.61 | 1.13 |
| Max drawdown (3Y) | -51.8% | -100.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELA | VMAR |
|---|---|---|
| 2022 | +29.2% | -4.8% |
| 2023 | -7.6% | -76.4% |
| 2024 | +47.7% | -98.9% |
| 2025 | +86.4% | -98.7% |
| 2026 | +4.1% | -99.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELA and VMAR good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELA and VMAR?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.29 over the last year and -0.15 over 5 years.
Is VMAR a good diversifier for ELA?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/ela-vs-vmar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ela-vs-vmar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELA correlations · VMAR correlations
