ELVA vs LNG: Correlation
How closely do Electrovaya Inc. (ELVA) and Cheniere Energy, Inc. (LNG) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and LNG?
Over the past 3 years, ELVA and LNG moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.49) than the 3-year average (-0.26). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -461.9 %².
LNG is close to the least connected end of ELVA's tracked universe, ranking #12 of 13. Over the last 12 months ELVA came out ahead by 6.7 percentage points (+24.1% against +17.4%). Note the risk asymmetry: ELVA runs 2.2 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.
ELVA vs LNG: side by side
| ELVA (Electrovaya Inc.) | LNG (Cheniere Energy, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +17.4% |
| 5-year return | +107.3% | +231.8% |
| Volatility (ann.) | 63.2% | 28.3% |
| Beta vs S&P 500 | 1.17 | 0.13 |
| Max drawdown (3Y) | -56.0% | -24.9% |
| Market cap | $0.3B | $58.0B |
| P/E (trailing) | 68.4 | 21.5 |
| Dividend yield | 0.00% | 0.78% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | LNG |
|---|---|---|
| 2022 | +2.8% | +49.3% |
| 2023 | -17.3% | +15.0% |
| 2024 | -19.0% | +27.2% |
| 2025 | +218.5% | -8.7% |
| 2026 | -13.4% | +45.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and LNG good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ELVA and LNG?
As of 2026-08-27, the correlation of weekly returns between ELVA and LNG is -0.26 over 3 years, -0.49 over 1 year and -0.03 over 5 years.
Is LNG a good diversifier for ELVA?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/elva-vs-lng.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/elva-vs-lng/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ELVA correlations · LNG correlations
