ELVA vs NTLA: Correlation
How closely do Electrovaya Inc. (ELVA) and Intellia Therapeutics, Inc. (NTLA) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and NTLA?
Over the past 3 years, ELVA and NTLA moved with a correlation of 0.38, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.38 over 3. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 1957.7 %².
Within ELVA's tracked universe of 13 assets, NTLA comes in at #4 by 3-year correlation. On 12-month performance ELVA holds a 9.3-point edge, +24.1% against +14.8%.
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 NTLA: side by side
| ELVA (Electrovaya Inc.) | NTLA (Intellia Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +14.8% |
| 5-year return | +107.3% | -91.5% |
| Volatility (ann.) | 63.2% | 82.2% |
| Beta vs S&P 500 | 1.17 | 2.32 |
| Max drawdown (3Y) | -56.0% | -83.6% |
| Market cap | $0.3B | $1.8B |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | NTLA |
|---|---|---|
| 2022 | +2.8% | -70.5% |
| 2023 | -17.3% | -12.6% |
| 2024 | -19.0% | -61.8% |
| 2025 | +218.5% | -22.9% |
| 2026 | -13.4% | +45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and NTLA good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ELVA and NTLA?
As of 2026-08-27, the correlation of weekly returns between ELVA and NTLA is 0.38 over 3 years, 0.42 over 1 year and 0.30 over 5 years.
Is NTLA a good diversifier for ELVA?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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-ntla.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/elva-vs-ntla/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ELVA correlations · NTLA correlations
