ELE vs TRX: Correlation
How closely do Elemental Royalty Corporation (ELE) and TRX Gold Corporation (TRX) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELE and TRX?
Across a 3-year window, the weekly returns of ELE and TRX correlate at 0.58, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.69 versus 0.58 over 3 years. Stretching to 5 years gives 0.47, with an annualized covariance of 1559.5 %².
By 3-year correlation, TRX places #6 of the 11 assets tracked against ELE. The last year tells two different stories: TRX led by 186.2 percentage points, +52.7% for ELE against +238.9% for TRX.
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.
ELE vs TRX: side by side
| ELE (Elemental Royalty Corporation) | TRX (TRX Gold Corporation) | |
|---|---|---|
| 1-year return | +52.7% | +238.9% |
| 5-year return | +117.9% | +197.6% |
| Volatility (ann.) | 44.3% | 61.2% |
| Beta vs S&P 500 | 0.87 | 0.56 |
| Max drawdown (3Y) | -40.9% | -68.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELE | TRX |
|---|---|---|
| 2022 | -25.3% | -15.0% |
| 2023 | -15.4% | +11.8% |
| 2024 | -3.9% | -18.4% |
| 2025 | +114.0% | +196.8% |
| 2026 | +32.2% | +32.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELE and TRX good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ELE and TRX?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.69 over the last year and 0.47 over 5 years.
Is TRX a good diversifier for ELE?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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/ele-vs-trx.json
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Related comparisons
Hubs: ELE correlations · TRX correlations
