ELPW vs ONFO: Correlation
Elong Power Holding Limited - Class A (ELPW) and Onfolio Holdings Inc. (ONFO) show a very strong relationship: their 3-year correlation of weekly returns is 0.94.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and ONFO?
On 3 years of weekly data the ELPW/ONFO correlation comes out at 0.94, 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. The 5-year figure is n/a, and annualized covariance runs at 13005934.1 %².
By 3-year correlation, ONFO places #8 of the 30 assets tracked against ELPW. Their recent paths diverged sharply: over the last 12 months ONFO outperformed by 135.5 percentage points (-99.0% for ELPW against +36.5% for ONFO).
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 ONFO: side by side
| ELPW (Elong Power Holding Limited - Class A) | ONFO (Onfolio Holdings Inc.) | |
|---|---|---|
| 1-year return | -99.0% | +36.5% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 3332.8% | 4150.5% |
| Beta vs S&P 500 | 3.98 | 6.65 |
| Max drawdown (3Y) | -100.0% | -99.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELPW | ONFO |
|---|---|---|
| 2023 | – | -66.4% |
| 2024 | -87.5% | +162.7% |
| 2025 | -91.4% | -49.3% |
| 2026 | -97.4% | +109.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and ONFO good diversifiers for each other?
No: a correlation of 0.94 means ELPW and ONFO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ELPW and ONFO?
Using weekly returns as of 2026-08-27: 0.94 over 3 years, with 0.94 over the last year and n/a over 5 years.
Is ONFO a good diversifier for ELPW?
No: a correlation of 0.94 means ELPW and ONFO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.94 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.
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Related comparisons
Hubs: ELPW correlations · ONFO correlations
