ESLT vs MRCY: Correlation
Elbit Systems Ltd. (ESLT) and Mercury Systems Inc (MRCY) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESLT and MRCY?
Across a 3-year window, the weekly returns of ESLT and MRCY correlate at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.37 over 3 years. Stretching to 5 years gives 0.33, with an annualized covariance of 664.8 %².
By 3-year correlation, MRCY places #5 of the 13 assets tracked against ESLT. The last year tells two different stories: ESLT led by 15.7 percentage points, +48.5% for ESLT against +32.8% for MRCY.
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.
ESLT vs MRCY: side by side
| ESLT (Elbit Systems Ltd.) | MRCY (Mercury Systems Inc) | |
|---|---|---|
| 1-year return | +48.5% | +32.8% |
| 5-year return | +410.2% | +79.4% |
| Volatility (ann.) | 36.5% | 48.8% |
| Beta vs S&P 500 | 0.26 | 1.23 |
| Max drawdown (3Y) | -29.3% | -35.0% |
| Market cap | $33.7B | $5.4B |
| P/E (trailing) | 54.4 | – |
| Dividend yield | 0.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESLT | MRCY |
|---|---|---|
| 2022 | -4.8% | -18.7% |
| 2023 | +31.3% | -18.3% |
| 2024 | +22.2% | +14.8% |
| 2025 | +125.1% | +73.8% |
| 2026 | +24.7% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESLT and MRCY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESLT and MRCY?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.54 over the last year and 0.33 over 5 years.
Is MRCY a good diversifier for ESLT?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eslt-vs-mrcy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eslt-vs-mrcy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESLT correlations · MRCY correlations
