ELAB vs ICMB: Correlation
PMGC Holdings Inc. (ELAB) and Investcorp Credit Management BDC, Inc. (ICMB) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELAB and ICMB?
On 3 years of weekly data the ELAB/ICMB correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.30). The 5-year figure is n/a, and annualized covariance runs at -2621.7 %².
Out of 20 assets tracked against ELAB, ICMB lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months ICMB outperformed by 31.7 percentage points (-99.7% for ELAB against -68.0% for ICMB). Risk is not evenly split, since ELAB carries 4.4 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.
ELAB vs ICMB: side by side
| ELAB (PMGC Holdings Inc.) | ICMB (Investcorp Credit Management BDC, Inc.) | |
|---|---|---|
| 1-year return | -99.7% | -68.0% |
| 5-year return | n/a | -68.9% |
| Volatility (ann.) | 195.6% | 44.6% |
| Beta vs S&P 500 | 2.50 | 0.46 |
| Max drawdown (3Y) | -100.0% | -75.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 28.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELAB | ICMB |
|---|---|---|
| 2022 | – | -19.0% |
| 2023 | – | +19.0% |
| 2024 | -99.4% | +0.7% |
| 2025 | -97.4% | +5.9% |
| 2026 | -98.4% | -68.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELAB and ICMB good diversifiers for each other?
Yes. With a correlation of -0.30, ELAB and ICMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELAB and ICMB?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.43 over the last year and n/a over 5 years.
Is ICMB a good diversifier for ELAB?
Yes. With a correlation of -0.30, ELAB and ICMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/elab-vs-icmb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elab-vs-icmb/)
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Related comparisons
Hubs: ELAB correlations · ICMB correlations
