ELV vs TVGN: Correlation
How closely do Elevance Health (ELV) and Tevogen Inc. (TVGN) 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 ELV and TVGN?
Over the past 3 years, ELV and TVGN moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.27) than the 3-year average (-0.22). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1508.1 %².
Within ELV's tracked universe of 27 assets, TVGN comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ELV ahead by 116.8 points (+31.5% versus -85.3%). Note the risk asymmetry: TVGN runs 8.7 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 TVGN: side by side
| ELV (Elevance Health) | TVGN (Tevogen Inc.) | |
|---|---|---|
| 1-year return | +31.5% | -85.3% |
| 5-year return | +15.7% | -98.6% |
| Volatility (ann.) | 28.0% | 242.2% |
| Beta vs S&P 500 | 0.37 | 0.66 |
| Max drawdown (3Y) | -50.4% | -99.3% |
| Market cap | $86.6B | – |
| P/E (trailing) | 17.8 | – |
| Dividend yield | 1.70% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ELV | TVGN |
|---|---|---|
| 2022 | +11.8% | – |
| 2023 | -6.9% | +7.7% |
| 2024 | -20.7% | -90.7% |
| 2025 | -3.1% | -67.9% |
| 2026 | +15.0% | -59.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELV and TVGN good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ELV and TVGN?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.27 over the last year and -0.18 over 5 years.
Is TVGN a good diversifier for ELV?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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/elv-vs-tvgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elv-vs-tvgn/)
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Related comparisons
Hubs: ELV correlations · TVGN correlations
