ELPW vs MERC: Correlation
How closely do Elong Power Holding Limited - Class A (ELPW) and Mercer International Inc. (MERC) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and MERC?
Across a 3-year window, the weekly returns of ELPW and MERC correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -37219.2 %².
By 3-year correlation, MERC places #20 of the 30 assets tracked against ELPW. Over the last 12 months MERC came out ahead by 11.0 percentage points (-99.0% against -88.0%). Note the risk asymmetry: ELPW runs 52.8 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 MERC: side by side
| ELPW (Elong Power Holding Limited - Class A) | MERC (Mercer International Inc.) | |
|---|---|---|
| 1-year return | -99.0% | -88.0% |
| 5-year return | n/a | -96.1% |
| Volatility (ann.) | 3332.8% | 63.1% |
| Beta vs S&P 500 | 3.98 | 1.38 |
| Max drawdown (3Y) | -100.0% | -96.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELPW | MERC |
|---|---|---|
| 2022 | – | -0.6% |
| 2023 | – | -15.7% |
| 2024 | -87.5% | -28.7% |
| 2025 | -91.4% | -68.5% |
| 2026 | -97.4% | -80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and MERC good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELPW and MERC?
As of 2026-08-27, the correlation of weekly returns between ELPW and MERC is -0.18 over 3 years, -0.21 over 1 year and n/a over 5 years.
Is MERC a good diversifier for ELPW?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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/elpw-vs-merc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elpw-vs-merc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELPW correlations · MERC correlations
