ELV vs GYRO: Correlation
Measured on weekly returns over the past three years, Elevance Health (ELV) and Gyrodyne , LLC (GYRO) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELV and GYRO?
Over the past 3 years, ELV and GYRO moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.00 versus -0.24 over 3 years. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -270.4 %².
Out of 27 assets tracked against ELV, GYRO lands near the bottom at #24. Their recent paths diverged sharply: over the last 12 months ELV outperformed by 82.9 percentage points (+31.5% for ELV against -51.4% for GYRO).
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.
ELV vs GYRO: side by side
| ELV (Elevance Health) | GYRO (Gyrodyne , LLC) | |
|---|---|---|
| 1-year return | +31.5% | -51.4% |
| 5-year return | +15.7% | -60.8% |
| Volatility (ann.) | 28.0% | 40.0% |
| Beta vs S&P 500 | 0.37 | 0.20 |
| Max drawdown (3Y) | -50.4% | -54.2% |
| Market cap | $86.6B | – |
| P/E (trailing) | 17.8 | 43.3 |
| Dividend yield | 1.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ELV | GYRO |
|---|---|---|
| 2022 | +11.8% | -29.6% |
| 2023 | -6.9% | +23.5% |
| 2024 | -20.7% | -9.8% |
| 2025 | -3.1% | +2.4% |
| 2026 | +15.0% | -43.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELV and GYRO good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELV and GYRO?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.00 over the last year and -0.22 over 5 years.
Is GYRO a good diversifier for ELV?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/elv-vs-gyro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elv-vs-gyro/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELV correlations · GYRO correlations
