ENOV vs PEW: Correlation
How closely do Enovis Corporation (ENOV) and GrabAGun Digital Holdings Inc. (PEW) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENOV and PEW?
Over the past 3 years, ENOV and PEW moved with a correlation of 0.28, which is weak. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 617.1 %².
Among the 14 assets we track against ENOV, PEW sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months ENOV outperformed by 37.1 percentage points (-20.0% for ENOV against -57.1% for PEW).
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.
ENOV vs PEW: side by side
| ENOV (Enovis Corporation) | PEW (GrabAGun Digital Holdings Inc.) | |
|---|---|---|
| 1-year return | -20.0% | -57.1% |
| 5-year return | -70.1% | n/a |
| Volatility (ann.) | 41.2% | 51.2% |
| Beta vs S&P 500 | 1.30 | 0.44 |
| Max drawdown (3Y) | -68.6% | -86.8% |
| Market cap | $1.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENOV | PEW |
|---|---|---|
| 2022 | -32.4% | – |
| 2023 | +4.7% | – |
| 2024 | -21.7% | – |
| 2025 | -39.3% | -74.4% |
| 2026 | -6.8% | -21.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENOV and PEW good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENOV and PEW?
As of 2026-08-27, the correlation of weekly returns between ENOV and PEW is 0.28 over 3 years, 0.38 over 1 year and n/a over 5 years.
Is PEW a good diversifier for ENOV?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 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/enov-vs-pew.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enov-vs-pew/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENOV correlations · PEW correlations
