ENR vs SPB: Correlation
Measured on weekly returns over the past three years, Energizer Holdings, Inc. (ENR) and Spectrum Brands Holdings, Inc. (SPB) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENR and SPB?
Over the past 3 years, ENR and SPB moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 652.6 %².
SPB is one of the assets that tracks ENR most closely: it ranks #1 out of the 13 assets we track against ENR. Correlation aside, the last 12 months split them widely, with SPB ahead by 77.1 points (-16.4% versus +60.7%).
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.
ENR vs SPB: side by side
| ENR (Energizer Holdings, Inc.) | SPB (Spectrum Brands Holdings, Inc.) | |
|---|---|---|
| 1-year return | -16.4% | +60.7% |
| 5-year return | -30.7% | +26.1% |
| Volatility (ann.) | 41.2% | 31.9% |
| Beta vs S&P 500 | 0.78 | 0.83 |
| Max drawdown (3Y) | -56.1% | -46.3% |
| Market cap | $1.5B | $2.0B |
| P/E (trailing) | 18.4 | 27.7 |
| Dividend yield | 5.46% | 2.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENR | SPB |
|---|---|---|
| 2022 | -13.2% | -38.7% |
| 2023 | -2.2% | +34.1% |
| 2024 | +14.4% | +8.0% |
| 2025 | -40.1% | -27.9% |
| 2026 | +16.3% | +52.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENR and SPB good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ENR and SPB?
The ENR/SPB correlation stands at 0.50 on a 3-year window (1 year: 0.49, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is SPB a good diversifier for ENR?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/enr-vs-spb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/enr-vs-spb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENR correlations · SPB correlations
