ELAB vs TH: Correlation
Measured on weekly returns over the past three years, PMGC Holdings Inc. (ELAB) and Target Hospitality Corp. (TH) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELAB and TH?
On 3 years of weekly data the ELAB/TH correlation comes out at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.40 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 5009.2 %².
By 3-year correlation, TH places #4 of the 20 assets tracked against ELAB. Correlation aside, the last 12 months split them widely, with TH ahead by 213.2 points (-99.7% versus +113.5%). Risk is not evenly split, since ELAB carries 3.1 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 TH: side by side
| ELAB (PMGC Holdings Inc.) | TH (Target Hospitality Corp.) | |
|---|---|---|
| 1-year return | -99.7% | +113.5% |
| 5-year return | n/a | +383.7% |
| Volatility (ann.) | 195.6% | 63.3% |
| Beta vs S&P 500 | 2.50 | 0.47 |
| Max drawdown (3Y) | -100.0% | -69.1% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELAB | TH |
|---|---|---|
| 2022 | – | +325.3% |
| 2023 | – | -35.7% |
| 2024 | -99.4% | -0.7% |
| 2025 | -97.4% | -17.1% |
| 2026 | -98.4% | +136.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELAB and TH good diversifiers for each other?
Reasonably. At 0.40, ELAB and TH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ELAB and TH?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.56 over the last year and n/a over 5 years.
Is TH a good diversifier for ELAB?
Reasonably. At 0.40, ELAB and TH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elab-vs-th.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elab-vs-th/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELAB correlations · TH correlations
