ELVA vs RGT: Correlation
Measured on weekly returns over the past three years, Electrovaya Inc. (ELVA) and Royce Global Trust, Inc. (RGT) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and RGT?
On 3 years of weekly data the ELVA/RGT correlation comes out at 0.36, moderate. The link has tightened recently: the 1-year correlation (0.50) runs above the 3-year figure (0.36). The 5-year figure is 0.29, and annualized covariance runs at 387.8 %².
By 3-year correlation, RGT places #5 of the 13 assets tracked against ELVA. Neither side won the trailing year by much: +24.1% against +24.1%. Risk is not evenly split, since ELVA carries 3.7 times the volatility of the other side.
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 RGT: side by side
| ELVA (Electrovaya Inc.) | RGT (Royce Global Trust, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | +24.1% |
| 5-year return | +107.3% | +25.5% |
| Volatility (ann.) | 63.2% | 17.0% |
| Beta vs S&P 500 | 1.17 | 0.91 |
| Max drawdown (3Y) | -56.0% | -19.0% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 68.4 | 5.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | RGT |
|---|---|---|
| 2022 | +2.8% | -33.1% |
| 2023 | -17.3% | +14.6% |
| 2024 | -19.0% | +14.4% |
| 2025 | +218.5% | +24.1% |
| 2026 | -13.4% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and RGT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ELVA and RGT?
As of 2026-08-27, the correlation of weekly returns between ELVA and RGT is 0.36 over 3 years, 0.50 over 1 year and 0.29 over 5 years.
Is RGT a good diversifier for ELVA?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ELVA correlations · RGT correlations
