ENLV vs PAYX: Correlation
How closely do Enlivex Ltd. (ENLV) and Paychex (PAYX) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENLV and PAYX?
On 3 years of weekly data the ENLV/PAYX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.21 over 3. The 5-year figure is -0.06, and annualized covariance runs at -492.0 %².
Out of 13 assets tracked against ENLV, PAYX lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with PAYX ahead by 86.2 points (-91.0% versus -4.8%). Risk is not evenly split, since ENLV carries 5.2 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.
ENLV vs PAYX: side by side
| ENLV (Enlivex Ltd.) | PAYX (Paychex) | |
|---|---|---|
| 1-year return | -91.0% | -4.8% |
| 5-year return | -99.2% | +29.0% |
| Volatility (ann.) | 111.4% | 21.3% |
| Beta vs S&P 500 | 1.02 | 0.47 |
| Max drawdown (3Y) | -97.7% | -45.0% |
| Market cap | – | $45.0B |
| P/E (trailing) | 0.0 | 25.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ENLV | PAYX |
|---|---|---|
| 2022 | -37.0% | -13.2% |
| 2023 | -31.4% | +6.2% |
| 2024 | -56.7% | +21.3% |
| 2025 | -39.9% | -17.5% |
| 2026 | -86.0% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENLV and PAYX good diversifiers for each other?
Yes. With a correlation of -0.21, ENLV and PAYX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ENLV and PAYX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.27 over the last year and -0.06 over 5 years.
Is PAYX a good diversifier for ENLV?
Yes. With a correlation of -0.21, ENLV and PAYX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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.
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Related comparisons
Hubs: ENLV correlations · PAYX correlations
