ELA vs XMTR: Correlation
How closely do Envela Corporation (ELA) and Xometry, Inc. (XMTR) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELA and XMTR?
Over the past 3 years, ELA and XMTR moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 1990.0 %².
Few assets follow ELA as closely as XMTR, which ranks #1 of 12 tracked partners. Over the last 12 months XMTR came out ahead by 13.4 percentage points (+89.5% against +102.9%).
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 XMTR: side by side
| ELA (Envela Corporation) | XMTR (Xometry, Inc.) | |
|---|---|---|
| 1-year return | +89.5% | +102.9% |
| 5-year return | +229.3% | +31.7% |
| Volatility (ann.) | 56.3% | 83.8% |
| Beta vs S&P 500 | 0.61 | 2.60 |
| Max drawdown (3Y) | -51.8% | -70.4% |
| Market cap | $0.4B | $5.5B |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELA | XMTR |
|---|---|---|
| 2022 | +29.2% | -37.1% |
| 2023 | -7.6% | +11.4% |
| 2024 | +47.7% | +18.8% |
| 2025 | +86.4% | +39.4% |
| 2026 | +4.1% | +61.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELA and XMTR good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ELA and XMTR?
As of 2026-08-27, the correlation of weekly returns between ELA and XMTR is 0.42 over 3 years, 0.44 over 1 year and 0.31 over 5 years.
Is XMTR a good diversifier for ELA?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/ela-vs-xmtr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ela-vs-xmtr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELA correlations · XMTR correlations
