CHPT vs ENVX: Correlation
Measured on weekly returns over the past three years, ChargePoint Holdings, Inc. (CHPT) and Enovix Corporation (ENVX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHPT and ENVX?
On 3 years of weekly data the CHPT/ENVX correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.55 over 3. The 5-year figure is 0.56, and annualized covariance runs at 3692.3 %².
Few assets follow CHPT as closely as ENVX, which ranks #1 of 16 tracked partners. Their recent paths diverged sharply: over the last 12 months CHPT outperformed by 16.8 percentage points (-49.1% for CHPT against -65.9% for ENVX).
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.
CHPT vs ENVX: side by side
| CHPT (ChargePoint Holdings, Inc.) | ENVX (Enovix Corporation) | |
|---|---|---|
| 1-year return | -49.1% | -65.9% |
| 5-year return | -98.6% | -76.8% |
| Volatility (ann.) | 76.7% | 88.0% |
| Beta vs S&P 500 | 2.40 | 2.61 |
| Max drawdown (3Y) | -97.0% | -82.9% |
| Market cap | $0.2B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHPT | ENVX |
|---|---|---|
| 2022 | -50.0% | -54.4% |
| 2023 | -75.4% | +0.6% |
| 2024 | -54.3% | -13.2% |
| 2025 | -69.0% | -32.8% |
| 2026 | -12.2% | -50.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHPT and ENVX good diversifiers for each other?
Only partially. A correlation of 0.55 means CHPT and ENVX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CHPT and ENVX?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.57 over the last year and 0.56 over 5 years.
Is ENVX a good diversifier for CHPT?
Only partially. A correlation of 0.55 means CHPT and ENVX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/chpt-vs-envx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chpt-vs-envx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHPT correlations · ENVX correlations
