ELV vs SVCO: Correlation
How closely do Elevance Health (ELV) and Silvaco Group, Inc. (SVCO) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELV and SVCO?
Over the past 3 years, ELV and SVCO moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 918.4 %².
Among the 27 assets we track against ELV, SVCO ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SVCO outperformed by 15.7 percentage points (+31.5% for ELV against +47.2% for SVCO). Note the risk asymmetry: SVCO runs 2.9 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.
ELV vs SVCO: side by side
| ELV (Elevance Health) | SVCO (Silvaco Group, Inc.) | |
|---|---|---|
| 1-year return | +31.5% | +47.2% |
| 5-year return | +15.7% | n/a |
| Volatility (ann.) | 28.0% | 80.2% |
| Beta vs S&P 500 | 0.37 | 1.47 |
| Max drawdown (3Y) | -50.4% | -83.8% |
| Market cap | $86.6B | $0.2B |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 1.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ELV | SVCO |
|---|---|---|
| 2022 | +11.8% | – |
| 2023 | -6.9% | – |
| 2024 | -20.7% | – |
| 2025 | -3.1% | -49.9% |
| 2026 | +15.0% | +78.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELV and SVCO good diversifiers for each other?
Reasonably. At 0.37, ELV and SVCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ELV and SVCO?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.32 over the last year and n/a over 5 years.
Is SVCO a good diversifier for ELV?
Reasonably. At 0.37, ELV and SVCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/elv-vs-svco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/elv-vs-svco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELV correlations · SVCO correlations
