ELPW vs SMXT: Correlation
Elong Power Holding Limited - Class A (ELPW) and Solarmax Technology Inc. (SMXT) show a very strong relationship: their 3-year correlation of weekly returns is 0.95.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and SMXT?
Across a 3-year window, the weekly returns of ELPW and SMXT correlate at 0.95, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.96 over 1 year against 0.95 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 3286471.6 %².
Among the 30 assets we track against ELPW, SMXT ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SMXT outperformed by 238.7 percentage points (-99.0% for ELPW against +139.7% for SMXT). One caveat on sizing: ELPW is 3.5 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.
ELPW vs SMXT: side by side
| ELPW (Elong Power Holding Limited - Class A) | SMXT (Solarmax Technology Inc.) | |
|---|---|---|
| 1-year return | -99.0% | +139.7% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 3332.8% | 947.0% |
| Beta vs S&P 500 | 3.98 | 2.41 |
| Max drawdown (3Y) | -100.0% | -98.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELPW | SMXT |
|---|---|---|
| 2024 | -87.5% | – |
| 2025 | -91.4% | -49.3% |
| 2026 | -97.4% | +267.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and SMXT good diversifiers for each other?
No. With a correlation of 0.95, ELPW and SMXT move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ELPW and SMXT?
Using weekly returns as of 2026-08-27: 0.95 over 3 years, with 0.96 over the last year and n/a over 5 years.
Is SMXT a good diversifier for ELPW?
No. With a correlation of 0.95, ELPW and SMXT move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.95 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-smxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elpw-vs-smxt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELPW correlations · SMXT correlations
