ELLO vs PFX: Correlation
Measured on weekly returns over the past three years, Ellomay Capital Ltd (ELLO) and PhenixFIN Corporation (PFX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELLO and PFX?
On 3 years of weekly data the ELLO/PFX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.22). The 5-year figure is -0.08, and annualized covariance runs at -197.0 %².
PFX is close to the least connected end of ELLO's tracked universe, ranking #8 of 10. The trailing year gives ELLO the advantage: +15.5% versus +7.9%, a 7.6-point spread. One caveat on sizing: ELLO is 1.7 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 PFX: side by side
| ELLO (Ellomay Capital Ltd) | PFX (PhenixFIN Corporation) | |
|---|---|---|
| 1-year return | +15.5% | +7.9% |
| 5-year return | -28.2% | +36.0% |
| Volatility (ann.) | 39.3% | 22.8% |
| Beta vs S&P 500 | 0.36 | 0.08 |
| Max drawdown (3Y) | -41.7% | -29.6% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | 22.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELLO | PFX |
|---|---|---|
| 2022 | -47.5% | -25.5% |
| 2023 | +0.3% | +36.1% |
| 2024 | +8.7% | +23.3% |
| 2025 | +49.5% | -10.1% |
| 2026 | -16.8% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELLO and PFX good diversifiers for each other?
Yes. With a correlation of -0.22, ELLO and PFX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELLO and PFX?
As of 2026-08-27, the correlation of weekly returns between ELLO and PFX is -0.22 over 3 years, -0.43 over 1 year and -0.08 over 5 years.
Is PFX a good diversifier for ELLO?
Yes. With a correlation of -0.22, ELLO and PFX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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-pfx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ello-vs-pfx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELLO correlations · PFX correlations
