ELUT vs ORBS: Correlation
Measured on weekly returns over the past three years, Elutia, Inc. (ELUT) and Eightco Holdings Inc. (ORBS) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELUT and ORBS?
On 3 years of weekly data the ELUT/ORBS correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.21 over 3 years. The 5-year figure is -0.16, and annualized covariance runs at -9879.8 %².
Among the 10 assets we track against ELUT, ORBS sits near the bottom by co-movement, at rank #8. The last year tells two different stories: ORBS led by 15.3 percentage points, -60.2% for ELUT against -44.9% for ORBS. Note the risk asymmetry: ORBS runs 7.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ELUT vs ORBS: side by side
| ELUT (Elutia, Inc.) | ORBS (Eightco Holdings Inc.) | |
|---|---|---|
| 1-year return | -60.2% | -44.9% |
| 5-year return | -89.2% | -100.0% |
| Volatility (ann.) | 81.4% | 575.8% |
| Beta vs S&P 500 | 0.14 | 3.91 |
| Max drawdown (3Y) | -89.8% | -98.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELUT | ORBS |
|---|---|---|
| 2022 | -32.5% | – |
| 2023 | -49.2% | -94.6% |
| 2024 | +73.1% | -14.8% |
| 2025 | -81.5% | -21.0% |
| 2026 | +27.0% | -52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELUT and ORBS good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELUT and ORBS?
The ELUT/ORBS correlation stands at -0.21 on a 3-year window (1 year: -0.40, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is ORBS a good diversifier for ELUT?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/elut-vs-orbs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elut-vs-orbs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELUT correlations · ORBS correlations
