ELVA vs RKLB: Correlation
How closely do Electrovaya Inc. (ELVA) and Rocket Lab Corporation (RKLB) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and RKLB?
On 3 years of weekly data the ELVA/RKLB correlation comes out at 0.39, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.39). The 5-year figure is 0.26, and annualized covariance runs at 2126.3 %².
Few assets follow ELVA as closely as RKLB, which ranks #2 of 13 tracked partners. Their recent paths diverged sharply: over the last 12 months RKLB outperformed by 21.9 percentage points (+24.1% for ELVA against +46.0% for RKLB).
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 RKLB: side by side
| ELVA (Electrovaya Inc.) | RKLB (Rocket Lab Corporation) | |
|---|---|---|
| 1-year return | +24.1% | +46.0% |
| 5-year return | +107.3% | +573.3% |
| Volatility (ann.) | 63.2% | 85.6% |
| Beta vs S&P 500 | 1.17 | 2.58 |
| Max drawdown (3Y) | -56.0% | -61.0% |
| Market cap | $0.3B | $43.2B |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | RKLB |
|---|---|---|
| 2022 | +2.8% | -69.3% |
| 2023 | -17.3% | +46.7% |
| 2024 | -19.0% | +360.6% |
| 2025 | +218.5% | +173.9% |
| 2026 | -13.4% | -3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and RKLB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ELVA and RKLB?
The ELVA/RKLB correlation stands at 0.39 on a 3-year window (1 year: 0.55, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is RKLB a good diversifier for ELVA?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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
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Related comparisons
Hubs: ELVA correlations · RKLB correlations
