ELPW vs TOP: Correlation
Elong Power Holding Limited - Class A (ELPW) and TOP Financial Group Limited - Class A (TOP) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and TOP?
Across a 3-year window, the weekly returns of ELPW and TOP correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 482645.5 %².
By 3-year correlation, TOP places #16 of the 30 assets tracked against ELPW. Correlation aside, the last 12 months split them widely, with TOP ahead by 1316.9 points (-99.0% versus +1217.9%). One caveat on sizing: ELPW is 14.5 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 TOP: side by side
| ELPW (Elong Power Holding Limited - Class A) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -99.0% | +1217.9% |
| 5-year return | n/a | -9.2% |
| Volatility (ann.) | 3332.8% | 230.2% |
| Beta vs S&P 500 | 3.98 | 1.60 |
| Max drawdown (3Y) | -100.0% | -89.6% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELPW | TOP |
|---|---|---|
| 2023 | – | -22.5% |
| 2024 | -87.5% | -59.5% |
| 2025 | -91.4% | -34.3% |
| 2026 | -97.4% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and TOP good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ELPW and TOP?
As of 2026-08-27, the correlation of weekly returns between ELPW and TOP is 0.63 over 3 years, 0.65 over 1 year and n/a over 5 years.
Is TOP a good diversifier for ELPW?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elpw-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELPW correlations · TOP correlations
