ELPW vs GLMD: Correlation
How closely do Elong Power Holding Limited - Class A (ELPW) and Galmed Pharmaceuticals Ltd. (GLMD) trade together? Their weekly returns over three years give a correlation of 0.92, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and GLMD?
Across a 3-year window, the weekly returns of ELPW and GLMD correlate at 0.92, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.94) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 1904158.8 %².
By 3-year correlation, GLMD places #11 of the 30 assets tracked against ELPW. Their recent paths diverged sharply: over the last 12 months GLMD outperformed by 308.8 percentage points (-99.0% for ELPW against +209.8% for GLMD). Note the risk asymmetry: ELPW runs 5.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ELPW vs GLMD: side by side
| ELPW (Elong Power Holding Limited - Class A) | GLMD (Galmed Pharmaceuticals Ltd.) | |
|---|---|---|
| 1-year return | -99.0% | +209.8% |
| 5-year return | n/a | -99.3% |
| Volatility (ann.) | 3332.8% | 619.4% |
| Beta vs S&P 500 | 3.98 | 2.45 |
| Max drawdown (3Y) | -100.0% | -96.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELPW | GLMD |
|---|---|---|
| 2022 | – | -72.5% |
| 2023 | – | -93.9% |
| 2024 | -87.5% | -41.6% |
| 2025 | -91.4% | -76.5% |
| 2026 | -97.4% | +473.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and GLMD good diversifiers for each other?
No: a correlation of 0.92 means ELPW and GLMD tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ELPW and GLMD?
Using weekly returns as of 2026-08-27: 0.92 over 3 years, with 0.94 over the last year and n/a over 5 years.
Is GLMD a good diversifier for ELPW?
No: a correlation of 0.92 means ELPW and GLMD tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.92 mean?
On the −1 to +1 scale, 0.92 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elpw-vs-glmd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elpw-vs-glmd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELPW correlations · GLMD correlations
