ELPW vs TXT: Correlation
How closely do Elong Power Holding Limited - Class A (ELPW) and Textron (TXT) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELPW and TXT?
Across a 3-year window, the weekly returns of ELPW and TXT correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.23). Stretching to 5 years gives n/a, with an annualized covariance of -19568.8 %².
TXT is close to the least connected end of ELPW's tracked universe, ranking #26 of 30. Their recent paths diverged sharply: over the last 12 months TXT outperformed by 99.7 percentage points (-99.0% for ELPW against +0.7% for TXT). Note the risk asymmetry: ELPW runs 131.2 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 TXT: side by side
| ELPW (Elong Power Holding Limited - Class A) | TXT (Textron) | |
|---|---|---|
| 1-year return | -99.0% | +0.7% |
| 5-year return | n/a | +15.1% |
| Volatility (ann.) | 3332.8% | 25.4% |
| Beta vs S&P 500 | 3.98 | 0.89 |
| Max drawdown (3Y) | -100.0% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 0.00% | 0.10% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ELPW | TXT |
|---|---|---|
| 2022 | – | -8.2% |
| 2023 | – | +13.7% |
| 2024 | -87.5% | -4.8% |
| 2025 | -91.4% | +14.1% |
| 2026 | -97.4% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELPW and TXT good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELPW and TXT?
The ELPW/TXT correlation stands at -0.23 on a 3-year window (1 year: -0.38, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TXT a good diversifier for ELPW?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elpw-vs-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elpw-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELPW correlations · TXT correlations
