ELUT vs PACS: Correlation
How closely do Elutia, Inc. (ELUT) and PACS Group, Inc. (PACS) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELUT and PACS?
Over the past 3 years, ELUT and PACS moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1962.7 %².
PACS is close to the least connected end of ELUT's tracked universe, ranking #9 of 10. The last year tells two different stories: PACS led by 333.2 percentage points, -60.2% for ELUT against +273.0% for PACS.
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 PACS: side by side
| ELUT (Elutia, Inc.) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | -60.2% | +273.0% |
| 5-year return | -89.2% | n/a |
| Volatility (ann.) | 81.4% | 120.5% |
| Beta vs S&P 500 | 0.14 | 0.06 |
| Max drawdown (3Y) | -89.8% | -82.0% |
| Market cap | – | $7.0B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELUT | PACS |
|---|---|---|
| 2022 | -32.5% | – |
| 2023 | -49.2% | – |
| 2024 | +73.1% | – |
| 2025 | -81.5% | +192.8% |
| 2026 | +27.0% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELUT and PACS good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELUT and PACS?
As of 2026-08-27, the correlation of weekly returns between ELUT and PACS is -0.22 over 3 years, -0.28 over 1 year and n/a over 5 years.
Is PACS a good diversifier for ELUT?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/elut-vs-pacs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elut-vs-pacs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELUT correlations · PACS correlations
