ENOV vs SPYV: Correlation
Enovis Corporation (ENOV) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENOV and SPYV?
On 3 years of weekly data the ENOV/SPYV correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.54). The 5-year figure is 0.59, and annualized covariance runs at 270.4 %².
Few assets follow ENOV as closely as SPYV, which ranks #3 of 14 tracked partners. Correlation aside, the last 12 months split them widely, with SPYV ahead by 38.5 points (-20.0% versus +18.5%). Note the risk asymmetry: ENOV runs 3.4 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.
ENOV vs SPYV: side by side
| ENOV (Enovis Corporation) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | -20.0% | +18.5% |
| 5-year return | -70.1% | +73.5% |
| Volatility (ann.) | 41.2% | 12.1% |
| Beta vs S&P 500 | 1.30 | 0.70 |
| Max drawdown (3Y) | -68.6% | -17.5% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | US Listed | ETF · US Style |
SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | ENOV | SPYV |
|---|---|---|
| 2022 | -32.4% | -5.3% |
| 2023 | +4.7% | +22.2% |
| 2024 | -21.7% | +12.2% |
| 2025 | -39.3% | +13.2% |
| 2026 | -6.8% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENOV and SPYV good diversifiers for each other?
Only partially. A correlation of 0.54 means ENOV and SPYV 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 ENOV and SPYV?
As of 2026-08-27, the correlation of weekly returns between ENOV and SPYV is 0.54 over 3 years, 0.42 over 1 year and 0.59 over 5 years.
Is SPYV a good diversifier for ENOV?
Only partially. A correlation of 0.54 means ENOV and SPYV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enov-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enov-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENOV correlations · SPYV correlations
