ELTK vs JAZZ: Correlation
Measured on weekly returns over the past three years, Eltek Ltd. (ELTK) and Jazz Pharmaceuticals plc (JAZZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTK and JAZZ?
Over the past 3 years, ELTK and JAZZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.30 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -536.5 %².
Among the 16 assets we track against ELTK, JAZZ sits near the bottom by co-movement, at rank #14. The last year tells two different stories: JAZZ led by 124.6 percentage points, -22.8% for ELTK against +101.8% for JAZZ.
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 JAZZ: side by side
| ELTK (Eltek Ltd.) | JAZZ (Jazz Pharmaceuticals plc) | |
|---|---|---|
| 1-year return | -22.8% | +101.8% |
| 5-year return | +27.7% | +90.9% |
| Volatility (ann.) | 50.9% | 34.6% |
| Beta vs S&P 500 | 0.40 | 0.60 |
| Max drawdown (3Y) | -65.7% | -32.7% |
| Market cap | $0.1B | $16.3B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELTK | JAZZ |
|---|---|---|
| 2022 | +15.0% | +25.0% |
| 2023 | +244.5% | -22.8% |
| 2024 | -20.7% | +0.1% |
| 2025 | -20.0% | +38.0% |
| 2026 | -8.8% | +47.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTK and JAZZ good diversifiers for each other?
Yes. With a correlation of -0.30, ELTK and JAZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ELTK and JAZZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.59 over the last year and -0.16 over 5 years.
Is JAZZ a good diversifier for ELTK?
Yes. With a correlation of -0.30, ELTK and JAZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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
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[](https://www.pairbook.io/pair/eltk-vs-jazz/)
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Related comparisons
Hubs: ELTK correlations · JAZZ correlations
