ELTK vs OSPN: Correlation
How closely do Eltek Ltd. (ELTK) and OneSpan Inc. (OSPN) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTK and OSPN?
On 3 years of weekly data the ELTK/OSPN correlation comes out at 0.28, weak. The relationship has been stable: the 1-year correlation (0.22) sits close to the 3-year figure. The 5-year figure is 0.18, and annualized covariance runs at 618.1 %².
Among the 16 assets we track against ELTK, OSPN ranks #4 by 3-year correlation. The last year tells two different stories: OSPN led by 38.4 percentage points, -22.8% for ELTK against +15.6% for OSPN.
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 OSPN: side by side
| ELTK (Eltek Ltd.) | OSPN (OneSpan Inc.) | |
|---|---|---|
| 1-year return | -22.8% | +15.6% |
| 5-year return | +27.7% | -8.3% |
| Volatility (ann.) | 50.9% | 43.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -65.7% | -47.9% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | – | 9.3 |
| Dividend yield | 0.00% | 3.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELTK | OSPN |
|---|---|---|
| 2022 | +15.0% | -33.9% |
| 2023 | +244.5% | -4.2% |
| 2024 | -20.7% | +72.9% |
| 2025 | -20.0% | -28.5% |
| 2026 | -8.8% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTK and OSPN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ELTK and OSPN?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.22 over the last year and 0.18 over 5 years.
Is OSPN a good diversifier for ELTK?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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-ospn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eltk-vs-ospn/)
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Related comparisons
Hubs: ELTK correlations · OSPN correlations
