COR vs ENVX: Correlation
Cencora (COR) and Enovix Corporation (ENVX) 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 COR and ENVX?
Across a 3-year window, the weekly returns of COR and ENVX correlate at -0.27, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Stretching to 5 years gives -0.10, with an annualized covariance of -516.7 %².
Within COR's tracked universe of 43 assets, ENVX comes in at #34 by 3-year correlation. The last year tells two different stories: COR led by 77.3 percentage points, +11.4% for COR against -65.9% for ENVX. Note the risk asymmetry: ENVX runs 4.0 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.
COR vs ENVX: side by side
| COR (Cencora) | ENVX (Enovix Corporation) | |
|---|---|---|
| 1-year return | +11.4% | -65.9% |
| 5-year return | +188.6% | -76.8% |
| Volatility (ann.) | 21.9% | 88.0% |
| Beta vs S&P 500 | 0.08 | 2.61 |
| Max drawdown (3Y) | -32.4% | -82.9% |
| Market cap | $61.3B | $0.8B |
| P/E (trailing) | 24.3 | – |
| Dividend yield | 0.72% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COR | ENVX |
|---|---|---|
| 2022 | +26.3% | -54.4% |
| 2023 | +25.3% | +0.6% |
| 2024 | +10.4% | -13.2% |
| 2025 | +51.5% | -32.8% |
| 2026 | -4.3% | -50.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COR and ENVX 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 COR and ENVX?
As of 2026-08-27, the correlation of weekly returns between COR and ENVX is -0.27 over 3 years, -0.28 over 1 year and -0.10 over 5 years.
Is ENVX a good diversifier for COR?
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/cor-vs-envx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cor-vs-envx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COR correlations · ENVX correlations
