Abstract: Recent advances in the development of electron and X-ray detectors have opened up the possibility to detect single events from which its time of arrival can be determined with nanosecond resolution. This allows observing time correlations between electrons and X-rays in the transmission electron microscope. In this work, a novel setup is described which measures individual events using a silicon drift detector and digital pulse processor for the X-rays and a Timepix3 detector for the electrons. This setup enables recording time correlation between both event streams while at the same time preserving the complete conventional electron energy loss (EELS) and energy dispersive X-ray (EDX) signal. We show that the added coincidence information improves the sensitivity for detecting trace elements in a matrix as compared to conventional EELS and EDX. Furthermore, the method allows the determination of the collection efficiencies without the use of a reference sample and can subtract the background signal for EELS and EDX without any prior knowledge of the background shape and without pre-edge fitting region. We discuss limitations in time resolution arising due to specificities of the silicon drift detector and discuss ways to further improve this aspect.