ELLO vs ENLT: Correlation
Measured on weekly returns over the past three years, Ellomay Capital Ltd (ELLO) and Enlight Renewable Energy Ltd. (ENLT) 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 ELLO and ENLT?
Across a 3-year window, the weekly returns of ELLO and ENLT correlate at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.40 over 3 years. Stretching to 5 years gives 0.04, with an annualized covariance of 658.6 %².
ENLT is one of the assets that tracks ELLO most closely: it ranks #1 out of the 10 assets we track against ELLO. Correlation aside, the last 12 months split them widely, with ENLT ahead by 173.3 points (+15.5% versus +188.8%).
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.
ELLO vs ENLT: side by side
| ELLO (Ellomay Capital Ltd) | ENLT (Enlight Renewable Energy Ltd.) | |
|---|---|---|
| 1-year return | +15.5% | +188.8% |
| 5-year return | -28.2% | n/a |
| Volatility (ann.) | 39.3% | 42.0% |
| Beta vs S&P 500 | 0.36 | 0.88 |
| Max drawdown (3Y) | -41.7% | -27.7% |
| Market cap | $0.3B | $11.3B |
| P/E (trailing) | – | 127.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELLO | ENLT |
|---|---|---|
| 2022 | -47.5% | – |
| 2023 | +0.3% | – |
| 2024 | +8.7% | -9.9% |
| 2025 | +49.5% | +163.6% |
| 2026 | -16.8% | +77.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELLO and ENLT good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ELLO and ENLT?
As of 2026-08-27, the correlation of weekly returns between ELLO and ENLT is 0.40 over 3 years, 0.54 over 1 year and 0.04 over 5 years.
Is ENLT a good diversifier for ELLO?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/ello-vs-enlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ello-vs-enlt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELLO correlations · ENLT correlations
