ELUT vs RGS: Correlation
How closely do Elutia, Inc. (ELUT) and Regis Corporation (RGS) 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 ELUT and RGS?
On 3 years of weekly data the ELUT/RGS correlation comes out at 0.28, weak. The past 12 months show a weaker link (-0.24) than the 3-year average (0.28). The 5-year figure is 0.19, and annualized covariance runs at 5094.9 %².
RGS is one of the assets that tracks ELUT most closely: it ranks #3 out of the 10 assets we track against ELUT. The last year tells two different stories: RGS led by 79.9 percentage points, -60.2% for ELUT against +19.7% for RGS. One caveat on sizing: RGS is 2.8 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.
ELUT vs RGS: side by side
| ELUT (Elutia, Inc.) | RGS (Regis Corporation) | |
|---|---|---|
| 1-year return | -60.2% | +19.7% |
| 5-year return | -89.2% | -75.3% |
| Volatility (ann.) | 81.4% | 226.7% |
| Beta vs S&P 500 | 0.14 | 0.65 |
| Max drawdown (3Y) | -89.8% | -81.1% |
| Market cap | – | – |
| P/E (trailing) | – | 0.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELUT | RGS |
|---|---|---|
| 2022 | -32.5% | -29.9% |
| 2023 | -49.2% | -61.3% |
| 2024 | +73.1% | +151.0% |
| 2025 | -81.5% | +17.0% |
| 2026 | +27.0% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELUT and RGS 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 ELUT and RGS?
The ELUT/RGS correlation stands at 0.28 on a 3-year window (1 year: -0.24, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is RGS a good diversifier for ELUT?
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/elut-vs-rgs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elut-vs-rgs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELUT correlations · RGS correlations
