CAR vs ENVB: Correlation
Avis Budget Group, Inc. (CAR) and Enveric Biosciences, Inc. (ENVB) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAR and ENVB?
Across a 3-year window, the weekly returns of CAR and ENVB correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.27 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -3888.2 %².
Out of 10 assets tracked against CAR, ENVB lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months CAR outperformed by 81.0 percentage points (-11.1% for CAR against -92.1% for ENVB). Risk is not evenly split, since ENVB carries 1.8 times the volatility of the other side.
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.
CAR vs ENVB: side by side
| CAR (Avis Budget Group, Inc.) | ENVB (Enveric Biosciences, Inc.) | |
|---|---|---|
| 1-year return | -11.1% | -92.1% |
| 5-year return | +63.5% | -100.0% |
| Volatility (ann.) | 89.7% | 160.8% |
| Beta vs S&P 500 | 1.84 | 0.75 |
| Max drawdown (3Y) | -80.8% | -100.0% |
| Market cap | $4.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAR | ENVB |
|---|---|---|
| 2022 | -20.9% | -95.5% |
| 2023 | +13.8% | -37.5% |
| 2024 | -54.5% | -72.5% |
| 2025 | +59.2% | -99.6% |
| 2026 | +8.7% | -62.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAR and ENVB good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CAR and ENVB?
As of 2026-08-27, the correlation of weekly returns between CAR and ENVB is -0.27 over 3 years, -0.41 over 1 year and -0.14 over 5 years.
Is ENVB a good diversifier for CAR?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/car-vs-envb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/car-vs-envb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAR correlations · ENVB correlations
