ELVA vs. MRK

Last updated Jun 4, 2026

ELVA (Electrovaya Inc. Common Shares) and MRK (Merck & Co., Inc.) are both stocks. ELVA operates in Electrical Equipment & Parts (Industrials), while MRK operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, ELVA returned 4.45%/yr vs 11.18%/yr for MRK. At a 0.03 correlation, their price movements are largely independent.

Performance

ELVA vs. MRK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Electrovaya Inc. Common Shares (ELVA) and Merck & Co., Inc. (MRK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELVA achieves a 42.78% return, which is significantly higher than MRK's 9.78% return. Over the past 10 years, ELVA has underperformed MRK with an annualized return of 4.45%, while MRK has yielded a comparatively higher 11.18% annualized return.

ELVA

• 1D: -7.99%
• 1M: 19.37%
• YTD: 42.78%
• 6M: 129.27%
• 1Y: 237.27%
• 3Y*: 48.42%
• 5Y*: 14.03%
• 10Y*: 4.45%

MRK

• 1D: -0.82%
• 1M: 1.41%
• YTD: 9.78%
• 6M: 13.95%
• 1Y: 54.09%
• 3Y*: 3.77%
• 5Y*: 12.62%
• 10Y*: 11.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELVA vs. MRK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELVA Electrovaya Inc. Common Shares	42.78%	218.55%	-18.95%	-17.30%	2.78%	-38.98%	686.67%	48.08%	-80.52%	-67.02%
MRK Merck & Co., Inc.	9.78%	9.79%	-6.26%	1.01%	49.42%	1.75%	-7.20%	22.27%	39.95%	-1.49%

Correlation

The correlation between ELVA and MRK is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 11, 2016	0.03

Fundamentals

Market Cap ELVA : $582.72M MRK : $283.54B
EPS ELVA : $0.11 MRK : $3.58
PE Ratio ELVA : 104.32 MRK : 32.00
PEG Ratio ELVA : 1.24 MRK : 0.03
PS Ratio ELVA : 7.37 MRK : 4.36
PB Ratio ELVA : 9.25 MRK : 6.18
Total Revenue (TTM) ELVA : $70.74M MRK : $65.59B
Gross Profit (TTM) ELVA : $22.01M MRK : $49.79B
EBITDA (TTM) ELVA : $6.86M MRK : $22.69B

Return for Risk

ELVA vs. MRK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELVA

ELVA Risk / Return Rank: 91
ELVA Sharpe Ratio Rank: 94
ELVA Sortino Ratio Rank: 89
ELVA Omega Ratio Rank: 87
ELVA Calmar Ratio Rank: 92
ELVA Martin Ratio Rank: 91

MRK

MRK Risk / Return Rank: 87
MRK Sharpe Ratio Rank: 88
MRK Sortino Ratio Rank: 87
MRK Omega Ratio Rank: 84
MRK Calmar Ratio Rank: 90
MRK Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELVA vs. MRK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Electrovaya Inc. Common Shares (ELVA) and Merck & Co., Inc. (MRK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ELVA	MRK	Difference
Sharpe ratio Return per unit of total volatility	2.86	2.02	+0.84
Sortino ratio Return per unit of downside risk	3.15	2.94	+0.22
Omega ratio Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio Return relative to maximum drawdown	5.38	4.78	+0.60
Martin ratio Return relative to average drawdown	12.89	12.00	+0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELVA vs. MRK - Sharpe Ratio Comparison

The current ELVA Sharpe Ratio is 2.86, which is higher than the MRK Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of ELVA and MRK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ELVA	MRK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.86	2.02	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.54	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	0.49	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.48	-0.29

Drawdowns

ELVA vs. MRK - Drawdown Comparison

The maximum ELVA drawdown since its inception was -96.90%, which is greater than MRK's maximum drawdown of -68.61%. Use the drawdown chart below to compare losses from any high point for ELVA and MRK.

Drawdown Indicators

	ELVA	MRK	Difference
Max Drawdown Largest peak-to-trough decline	-96.90%	-68.61%	-28.29%
Max Drawdown (1Y) Largest decline over 1 year	-44.42%	-11.37%	-33.05%
Max Drawdown (3Y) Largest decline over 3 years	-64.19%	-43.44%	-20.75%
Max Drawdown (5Y) Largest decline over 5 years	-67.83%	-43.44%	-24.39%
Max Drawdown (10Y) Largest decline over 10 years	-96.90%	-43.44%	-53.46%
Current Drawdown Current decline from peak	-29.96%	-8.50%	-21.46%
Average Drawdown Average peak-to-trough decline	-73.75%	-18.84%	-54.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.50%	4.52%	+13.98%

Volatility

ELVA vs. MRK - Volatility Comparison

Electrovaya Inc. Common Shares (ELVA) has a higher volatility of 29.36% compared to Merck & Co., Inc. (MRK) at 8.21%. This indicates that ELVA's price experiences larger fluctuations and is considered to be riskier than MRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELVA	MRK	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.36%	8.21%	+21.15%
Volatility (6M) Calculated over the trailing 6-month period	62.89%	17.62%	+45.27%
Volatility (1Y) Calculated over the trailing 1-year period	84.08%	26.92%	+57.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.98%	23.62%	+45.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.14%	22.91%	+63.23%

Dividends

ELVA vs. MRK - Dividend Comparison

ELVA has not paid dividends to shareholders, while MRK's dividend yield for the trailing twelve months is around 2.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELVA Electrovaya Inc. Common Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MRK Merck & Co., Inc.	2.89%	3.12%	3.14%	2.72%	2.52%	3.41%	3.03%	2.48%	2.60%	3.36%	3.14%	3.43%

Financials

ELVA vs. MRK - Profitability Comparison

The chart below illustrates the profitability comparison between Electrovaya Inc. Common Shares and Merck & Co., Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ELVA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Electrovaya Inc. Common Shares reported a gross profit of 5.51M and revenue of 17.80M. Therefore, the gross margin over that period was 31.0%.

MRK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a gross profit of 13.34B and revenue of 16.29B. Therefore, the gross margin over that period was 81.9%.

ELVA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Electrovaya Inc. Common Shares reported an operating income of 1.52M and revenue of 17.80M, resulting in an operating margin of 8.5%.

MRK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported an operating income of -1.88B and revenue of 16.29B, resulting in an operating margin of -11.6%.

ELVA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Electrovaya Inc. Common Shares reported a net income of 1.00M and revenue of 17.80M, resulting in a net margin of 5.6%.

MRK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a net income of -4.24B and revenue of 16.29B, resulting in a net margin of -26.0%.

Frequently Asked Questions

Can I hold both ELVA and MRK in my portfolio?

ELVA and MRK have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELVA or MRK?

ELVA has higher volatility (29.36%) compared to MRK (8.21%). In terms of maximum drawdown, ELVA dropped -96.90% vs MRK's -68.61%.

Which has better risk-adjusted returns?

ELVA currently has the higher Sharpe Ratio (2.86 vs 2.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.