ELVA vs SOBR: Correlation
How closely do Electrovaya Inc. (ELVA) and SOBR Safe, Inc. (SOBR) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELVA and SOBR?
Across a 3-year window, the weekly returns of ELVA and SOBR correlate at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Stretching to 5 years gives 0.16, with an annualized covariance of 3391.8 %².
Within ELVA's tracked universe of 13 assets, SOBR comes in at #6 by 3-year correlation. The last year tells two different stories: ELVA led by 110.2 percentage points, +24.1% for ELVA against -86.1% for SOBR. One caveat on sizing: SOBR is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SOBR: side by side
| ELVA (Electrovaya Inc.) | SOBR (SOBR Safe, Inc.) | |
|---|---|---|
| 1-year return | +24.1% | -86.1% |
| 5-year return | +107.3% | -100.0% |
| Volatility (ann.) | 63.2% | 159.6% |
| Beta vs S&P 500 | 1.17 | 1.65 |
| Max drawdown (3Y) | -56.0% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 68.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ELVA | SOBR |
|---|---|---|
| 2022 | +2.8% | -89.3% |
| 2023 | -17.3% | -52.5% |
| 2024 | -19.0% | -97.7% |
| 2025 | +218.5% | -81.6% |
| 2026 | -13.4% | -77.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELVA and SOBR good diversifiers for each other?
Reasonably. At 0.34, ELVA and SOBR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ELVA and SOBR?
The ELVA/SOBR correlation stands at 0.34 on a 3-year window (1 year: 0.36, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is SOBR a good diversifier for ELVA?
Reasonably. At 0.34, ELVA and SOBR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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 · SOBR correlations
