AFRI vs ENVA: Correlation
Measured on weekly returns over the past three years, Forafric Global PLC (AFRI) and Enova International, Inc. (ENVA) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFRI and ENVA?
Over the past 3 years, AFRI and ENVA moved with a correlation of 0.34, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.34 over 3. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 299.8 %².
Within AFRI's tracked universe of 11 assets, ENVA comes in at #5 by 3-year correlation. The last year tells two different stories: ENVA led by 73.7 percentage points, +24.4% for AFRI against +98.1% for ENVA. Note the risk asymmetry: ENVA runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AFRI vs ENVA: side by side
| AFRI (Forafric Global PLC) | ENVA (Enova International, Inc.) | |
|---|---|---|
| 1-year return | +24.4% | +98.1% |
| 5-year return | +9.0% | +622.4% |
| Volatility (ann.) | 21.7% | 40.6% |
| Beta vs S&P 500 | 0.33 | 1.27 |
| Max drawdown (3Y) | -34.3% | -30.0% |
| Market cap | $0.3B | $5.9B |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFRI | ENVA |
|---|---|---|
| 2022 | +9.7% | -6.3% |
| 2023 | -4.6% | +44.3% |
| 2024 | -3.2% | +73.2% |
| 2025 | +7.6% | +64.0% |
| 2026 | -1.1% | +51.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFRI and ENVA good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AFRI and ENVA?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.44 over the last year and 0.24 over 5 years.
Is ENVA a good diversifier for AFRI?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/afri-vs-enva.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/afri-vs-enva/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFRI correlations · ENVA correlations
