ELAB vs ORIC: Correlation
PMGC Holdings Inc. (ELAB) and Oric Pharmaceuticals, Inc. (ORIC) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELAB and ORIC?
Across a 3-year window, the weekly returns of ELAB and ORIC correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.23 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -3693.0 %².
Among the 20 assets we track against ELAB, ORIC ranks #13 by 3-year correlation. The last year tells two different stories: ORIC led by 133.6 percentage points, -99.7% for ELAB against +33.9% for ORIC. Note the risk asymmetry: ELAB runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ORIC: side by side
| ELAB (PMGC Holdings Inc.) | ORIC (Oric Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -99.7% | +33.9% |
| 5-year return | n/a | -38.1% |
| Volatility (ann.) | 195.6% | 82.6% |
| Beta vs S&P 500 | 2.50 | 1.30 |
| Max drawdown (3Y) | -100.0% | -73.5% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELAB | ORIC |
|---|---|---|
| 2022 | – | -59.9% |
| 2023 | – | +56.2% |
| 2024 | -99.4% | -12.3% |
| 2025 | -97.4% | +1.4% |
| 2026 | -98.4% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELAB and ORIC good diversifiers for each other?
Yes. With a correlation of -0.23, ELAB and ORIC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELAB and ORIC?
The ELAB/ORIC correlation stands at -0.23 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ORIC a good diversifier for ELAB?
Yes. With a correlation of -0.23, ELAB and ORIC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/elab-vs-oric.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elab-vs-oric/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELAB correlations · ORIC correlations
