ELLO vs PCSA: Correlation
Ellomay Capital Ltd (ELLO) and Processa Pharmaceuticals, Inc. (PCSA) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELLO and PCSA?
Over the past 3 years, ELLO and PCSA moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1464.5 %².
Among the 10 assets we track against ELLO, PCSA sits near the bottom by co-movement, at rank #10. The last year tells two different stories: ELLO led by 75.9 percentage points, +15.5% for ELLO against -60.4% for PCSA. One caveat on sizing: PCSA is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PCSA: side by side
| ELLO (Ellomay Capital Ltd) | PCSA (Processa Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +15.5% | -60.4% |
| 5-year return | -28.2% | -99.9% |
| Volatility (ann.) | 39.3% | 153.6% |
| Beta vs S&P 500 | 0.36 | 1.04 |
| Max drawdown (3Y) | -41.7% | -99.6% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | 3.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELLO | PCSA |
|---|---|---|
| 2022 | -47.5% | -77.6% |
| 2023 | +0.3% | -69.5% |
| 2024 | +8.7% | -86.8% |
| 2025 | +49.5% | -87.0% |
| 2026 | -16.8% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELLO and PCSA good diversifiers for each other?
Yes. With a correlation of -0.24, ELLO and PCSA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELLO and PCSA?
As of 2026-08-27, the correlation of weekly returns between ELLO and PCSA is -0.24 over 3 years, -0.15 over 1 year and -0.13 over 5 years.
Is PCSA a good diversifier for ELLO?
Yes. With a correlation of -0.24, ELLO and PCSA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/ello-vs-pcsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ello-vs-pcsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELLO correlations · PCSA correlations
