ESTA vs VCEL: Correlation
How closely do Establishment Labs Holdings Inc. (ESTA) and Vericel Corporation (VCEL) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESTA and VCEL?
On 3 years of weekly data the ESTA/VCEL correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.45). The 5-year figure is 0.44, and annualized covariance runs at 1315.7 %².
In ESTA's tracked universe of 12 assets, VCEL sits right near the top at #1. The last year tells two different stories: ESTA led by 54.5 percentage points, +69.2% for ESTA against +14.7% for VCEL. Risk is not evenly split, since ESTA carries 1.7 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.
ESTA vs VCEL: side by side
| ESTA (Establishment Labs Holdings Inc.) | VCEL (Vericel Corporation) | |
|---|---|---|
| 1-year return | +69.2% | +14.7% |
| 5-year return | -0.0% | -26.0% |
| Volatility (ann.) | 70.5% | 41.9% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -64.1% | -52.5% |
| Market cap | $2.1B | $2.1B |
| P/E (trailing) | – | 87.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESTA | VCEL |
|---|---|---|
| 2022 | -2.9% | -33.0% |
| 2023 | -60.6% | +35.2% |
| 2024 | +77.9% | +54.2% |
| 2025 | +58.2% | -34.4% |
| 2026 | -1.5% | +14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESTA and VCEL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESTA and VCEL?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.57 over the last year and 0.44 over 5 years.
Is VCEL a good diversifier for ESTA?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/esta-vs-vcel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esta-vs-vcel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESTA correlations · VCEL correlations
