EMA vs VIK: Correlation
How closely do Emera Incorporated (EMA) and Viking Holdings Ltd (VIK) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMA and VIK?
Across a 3-year window, the weekly returns of EMA and VIK correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.08 versus -0.23 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -124.6 %².
Among the 11 assets we track against EMA, VIK sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with VIK ahead by 35.2 points (+7.5% versus +42.7%). One caveat on sizing: VIK is 1.9 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.
EMA vs VIK: side by side
| EMA (Emera Incorporated) | VIK (Viking Holdings Ltd) | |
|---|---|---|
| 1-year return | +7.5% | +42.7% |
| 5-year return | +34.4% | n/a |
| Volatility (ann.) | 17.4% | 33.6% |
| Beta vs S&P 500 | 0.10 | 1.31 |
| Max drawdown (3Y) | -19.6% | -35.4% |
| Market cap | $15.4B | $40.1B |
| P/E (trailing) | 22.2 | 30.0 |
| Dividend yield | 5.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMA | VIK |
|---|---|---|
| 2022 | -19.3% | – |
| 2023 | +3.5% | – |
| 2024 | +6.3% | – |
| 2025 | +36.6% | +62.1% |
| 2026 | +3.6% | +25.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMA and VIK good diversifiers for each other?
Yes. With a correlation of -0.23, EMA and VIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EMA and VIK?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.08 over the last year and n/a over 5 years.
Is VIK a good diversifier for EMA?
Yes. With a correlation of -0.23, EMA and VIK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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: EMA correlations · VIK correlations
