ELTK vs SNOA: Correlation
Measured on weekly returns over the past three years, Eltek Ltd. (ELTK) and Sonoma Pharmaceuticals, Inc. (SNOA) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELTK and SNOA?
Over the past 3 years, ELTK and SNOA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.07) than the 3-year average (-0.23). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1515.5 %².
Within ELTK's tracked universe of 16 assets, SNOA comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ELTK outperformed by 48.1 percentage points (-22.8% for ELTK against -70.9% for SNOA). Risk is not evenly split, since SNOA carries 2.5 times the volatility of the other side.
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 SNOA: side by side
| ELTK (Eltek Ltd.) | SNOA (Sonoma Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -22.8% | -70.9% |
| 5-year return | +27.7% | -98.9% |
| Volatility (ann.) | 50.9% | 127.6% |
| Beta vs S&P 500 | 0.40 | 2.43 |
| Max drawdown (3Y) | -65.7% | -95.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELTK | SNOA |
|---|---|---|
| 2022 | +15.0% | -75.4% |
| 2023 | +244.5% | -83.9% |
| 2024 | -20.7% | -25.3% |
| 2025 | -20.0% | +35.3% |
| 2026 | -8.8% | -63.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELTK and SNOA good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELTK and SNOA?
The ELTK/SNOA correlation stands at -0.23 on a 3-year window (1 year: 0.07, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is SNOA a good diversifier for ELTK?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
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Related comparisons
Hubs: ELTK correlations · SNOA correlations
