Enovix Corp Correlations

ENVX Stock

USD 7.91 0.22 2.71%

The current 90-days correlation between Enovix Corp and Eos Energy Enterprises is 0.46 (i.e., Very weak diversification). The correlation of Enovix Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Enovix Corp Correlation With Market

Significant diversification

The correlation between Enovix Corp and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enovix Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enovix Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more information on how to buy Enovix Stock please use our How to Invest in Enovix Corp guide.

Moving together with Enovix Stock

0.65	TE	T1 Energy Symbol Change	Pair Corr
0.78	ADSEW	ADS TEC ENERGY	Pair Corr
0.64	MVST	Microvast Holdings	Pair Corr
0.88	ELPW	Elong Power Holding	Pair Corr
0.82	EOSE	Eos Energy Enterprises Buyout Trend	Pair Corr
0.68	FCEL	FuelCell Energy	Pair Corr
0.69	FLUX	Flux Power Holdings	Pair Corr
0.65	AYI	Acuity Brands	Pair Corr
0.66	EAF	GrafTech International	Pair Corr
0.67	ENR	Energizer Holdings	Pair Corr
0.66	ESP	Espey Mfg Electronics	Pair Corr
0.9	GWH	ESS Tech	Pair Corr
0.69	OPTT	Ocean Power Technologies	Pair Corr
0.82	NVT	nVent Electric PLC	Pair Corr
0.8	NVX	Novonix Ltd ADR	Pair Corr
0.66	XPON	Expion360	Pair Corr
0.79	STI	Solidion Technology	Pair Corr
0.61	GAUZ	Gauzy Ordinary	Pair Corr
0.8	VRT	Vertiv Holdings	Pair Corr
0.77	WBX	Wallbox NV	Pair Corr
0.71	MVSTW	Microvast Holdings	Pair Corr
0.84	EOSEW	Eos Energy Enterprises	Pair Corr
0.77	POWL	Powell Industries	Pair Corr
0.78	PPSI	Pioneer Power Solutions	Pair Corr

Related Correlations Analysis

	GWH	FREY	MVST	EOSEW	SLDP	PLUG	FCEL	XPON	AMPX
GWH		0.82	0.72	0.88	0.84	0.67	0.76	0.81	0.73	GWH
FREY	0.82		0.81	0.68	0.94	0.82	0.86	0.9	0.48	FREY
MVST	0.72	0.81		0.57	0.86	0.61	0.7	0.79	0.53	MVST
EOSEW	0.88	0.68	0.57		0.71	0.57	0.6	0.61	0.72	EOSEW
SLDP	0.84	0.94	0.86	0.71		0.79	0.86	0.89	0.48	SLDP
PLUG	0.67	0.82	0.61	0.57	0.79		0.94	0.76	0.36	PLUG
FCEL	0.76	0.86	0.7	0.6	0.86	0.94		0.85	0.39	FCEL
XPON	0.81	0.9	0.79	0.61	0.89	0.76	0.85		0.36	XPON
AMPX	0.73	0.48	0.53	0.72	0.48	0.36	0.39	0.36		AMPX
	GWH	FREY	MVST	EOSEW	SLDP	PLUG	FCEL	XPON	AMPX

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Risk-Adjusted Indicators

There is a big difference between Enovix Stock performing well and Enovix Corp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Enovix Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GWH	5.15	(0.26)	0.00	0.35	0.00	0.00	9.85	(11.23)	51.21
FREY	4.83	0.34	0.05	0.12	5.41	(5.53)	12.10	(8.76)	30.45
MVST	7.01	0.28	0.03	0.09	8.10	(7.95)	16.43	(11.19)	64.07
EOSEW	9.55	0.36	0.05	(0.36)	9.62	(12.40)	21.55	(15.52)	85.64
SLDP	4.03	(0.12)	0.00	1.64	0.00	0.00	9.23	(9.05)	41.68
PLUG	4.15	(0.65)	0.00	(4.08)	0.00	0.00	8.00	(7.73)	30.72
FCEL	4.30	(0.99)	0.00	1.86	0.00	0.00	7.71	(7.17)	26.50
XPON	3.90	(1.15)	0.00	8.83	0.00	0.00	5.63	(7.95)	44.17
AMPX	6.18	0.77	0.11	0.39	5.78	(8.34)	17.07	(9.64)	41.66

Enovix Corp Corporate Management

James Wilcox	VP Mobility	Profile
Hongwei Yan	Chief Officer	Profile
Kristin Atkins	Vice Marketing	Profile
Iryna Romaniv	Vice Resources	Profile
Charles Anderson	Functional Relations	Profile
Rob Rosen	Senior Materials	Profile
Harrold Rust	CEO, CoFounder	Profile

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