ELVA vs FEIM: Correlation
Electrovaya Inc. (ELVA) and Frequency Electronics, Inc. (FEIM) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and FEIM?
Across a 3-year window, the weekly returns of ELVA and FEIM correlate at 0.39, moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.39). Stretching to 5 years gives 0.26, with an annualized covariance of 1731.8 %².
FEIM is one of the assets that tracks ELVA most closely: it ranks #1 out of the 13 assets we track against ELVA. Their recent paths diverged sharply: over the last 12 months FEIM outperformed by 72.9 percentage points (+24.1% for ELVA against +97.0% for FEIM).
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.
ELVA vs FEIM: side by side
| ELVA (Electrovaya Inc.) | FEIM (Frequency Electronics, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +97.0% |
| 5-year return | +107.3% | +639.1% |
| Volatility (ann.) | 63.2% | 70.8% |
| Beta vs S&P 500 | 1.17 | 1.11 |
| Max drawdown (3Y) | -56.0% | -33.0% |
| Market cap | $0.3B | $0.7B |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | FEIM |
|---|---|---|
| 2022 | +2.8% | -29.4% |
| 2023 | -17.3% | +80.9% |
| 2024 | -19.0% | +83.2% |
| 2025 | +218.5% | +190.7% |
| 2026 | -13.4% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and FEIM good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ELVA and FEIM?
The ELVA/FEIM correlation stands at 0.39 on a 3-year window (1 year: 0.64, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is FEIM a good diversifier for ELVA?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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/elva-vs-feim.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elva-vs-feim/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ELVA correlations · FEIM correlations
