ELLO vs KMDA: Correlation
Measured on weekly returns over the past three years, Ellomay Capital Ltd (ELLO) and Kamada Ltd. (KMDA) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELLO and KMDA?
Across a 3-year window, the weekly returns of ELLO and KMDA correlate at 0.28, weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.28 over 3. Stretching to 5 years gives 0.26, with an annualized covariance of 409.5 %².
By 3-year correlation, KMDA places #5 of the 10 assets tracked against ELLO. Twelve-month performance is nearly a tie, at +15.5% for ELLO and +19.4% for KMDA.
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 KMDA: side by side
| ELLO (Ellomay Capital Ltd) | KMDA (Kamada Ltd.) | |
|---|---|---|
| 1-year return | +15.5% | +19.4% |
| 5-year return | -28.2% | +62.4% |
| Volatility (ann.) | 39.3% | 36.7% |
| Beta vs S&P 500 | 0.36 | 0.75 |
| Max drawdown (3Y) | -41.7% | -28.9% |
| Market cap | $0.3B | $0.5B |
| P/E (trailing) | – | 22.3 |
| Dividend yield | 0.00% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELLO | KMDA |
|---|---|---|
| 2022 | -47.5% | -39.1% |
| 2023 | +0.3% | +52.6% |
| 2024 | +8.7% | -0.5% |
| 2025 | +49.5% | +19.2% |
| 2026 | -16.8% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELLO and KMDA good diversifiers for each other?
Reasonably. At 0.28, ELLO and KMDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ELLO and KMDA?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.25 over the last year and 0.26 over 5 years.
Is KMDA a good diversifier for ELLO?
Reasonably. At 0.28, ELLO and KMDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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-kmda.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ello-vs-kmda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELLO correlations · KMDA correlations
