ELTK vs HERZ: Correlation
Measured on weekly returns over the past three years, Eltek Ltd. (ELTK) and Herzfeld Credit Income Fund, Inc. - Closed End Fund (HERZ) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTK and HERZ?
On 3 years of weekly data the ELTK/HERZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.69 versus -0.33 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -589.0 %².
Out of 16 assets tracked against ELTK, HERZ lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with HERZ ahead by 44.8 points (-22.8% versus +22.0%).
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.
ELTK vs HERZ: side by side
| ELTK (Eltek Ltd.) | HERZ (Herzfeld Credit Income Fund, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | -22.8% | +22.0% |
| 5-year return | +27.7% | +1.5% |
| Volatility (ann.) | 50.9% | 35.4% |
| Beta vs S&P 500 | 0.40 | 0.10 |
| Max drawdown (3Y) | -65.7% | -41.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 80.0 |
| Dividend yield | 0.00% | 57.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELTK | HERZ |
|---|---|---|
| 2022 | +15.0% | -20.4% |
| 2023 | +244.5% | -13.6% |
| 2024 | -20.7% | +2.9% |
| 2025 | -20.0% | +89.3% |
| 2026 | -8.8% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTK and HERZ good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELTK and HERZ?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.69 over the last year and -0.15 over 5 years.
Is HERZ a good diversifier for ELTK?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/eltk-vs-herz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eltk-vs-herz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELTK correlations · HERZ correlations
