ELTK vs PACS: Correlation
Measured on weekly returns over the past three years, Eltek Ltd. (ELTK) and PACS Group, Inc. (PACS) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTK and PACS?
Over the past 3 years, ELTK and PACS moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.65) than the 3-year average (-0.34). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1654.2 %².
Out of 16 assets tracked against ELTK, PACS lands near the bottom at #16. Their recent paths diverged sharply: over the last 12 months PACS outperformed by 295.8 percentage points (-22.8% for ELTK against +273.0% for PACS). One caveat on sizing: PACS is 2.4 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.
ELTK vs PACS: side by side
| ELTK (Eltek Ltd.) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | -22.8% | +273.0% |
| 5-year return | +27.7% | n/a |
| Volatility (ann.) | 50.9% | 120.5% |
| Beta vs S&P 500 | 0.40 | 0.06 |
| Max drawdown (3Y) | -65.7% | -82.0% |
| Market cap | $0.1B | $7.0B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELTK | PACS |
|---|---|---|
| 2022 | +15.0% | – |
| 2023 | +244.5% | – |
| 2024 | -20.7% | – |
| 2025 | -20.0% | +192.8% |
| 2026 | -8.8% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTK and PACS good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELTK and PACS?
As of 2026-08-27, the correlation of weekly returns between ELTK and PACS is -0.34 over 3 years, -0.65 over 1 year and n/a over 5 years.
Is PACS a good diversifier for ELTK?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eltk-vs-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eltk-vs-pacs/)
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Related comparisons
Hubs: ELTK correlations · PACS correlations
