Correlation Analysis
Tesla, Inc. Common Stock vs Elevance Health, Inc.
TSLA vs ELV
-0.817
Strong inverse
When one moves up, the other tends to move down.
Tesla, Inc. Common Stock
↗TSLA
Tesla is a vertically integrated battery electric vehicle automaker and developer of real world artificial intelligence software, which includes autonomous driving and humanoid robots. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling a sports car and offer a robotaxi service. Global deliveries in 2025 were nearly 1.64 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network and an auto insurance business.
Market cap 1.3T
Elevance Health, Inc.
↗ELV
Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states in government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.
Market cap 66.5B · 97,100 employees
Time Series
Rebased to 100
Who Moves First
ELV leads TSLA by 6 days
ELV tends to move before TSLA.
Best correlation after shifting: -0.819 (13 shifts scanned)
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.378
10 periods · Return correlation when both series rose
Both Falling
+0.182
8 periods · Return correlation when both series fell
Diverging
-0.722
17 periods · Return correlation when series moved apart
R-Squared
66.7%
Share of variance in one series explained by the other.
Trend Agreement
53.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
947
Deep shared window — 947 usable pairs.
Significance
p < 0.001
95% CI: [-0.837, -0.794]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
947 paired observations survived the daily window.
Raw input
1,254
947
Normalized
1,254
947
Prepared
1,254
947
Aligned
947
947
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
307
A: 307 / B: 0
Series A
Tesla, Inc. Common Stock
TSLA
Market cap 1.3T
Stock · 1,254 raw → 1,254 prepared
Series B
Elevance Health, Inc.
ELV
Market cap 66.5B · 97,100 employees
Stock · 947 raw → 947 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
23
Estimated crossover points between normalized spreads.
Slope
-0.6563
Linear regression slope.
Intercept
618.9511
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 3 hours ago · ID: stock-tsla-vs-stock-elv-daily-20260408-jan2uw