ENR vs VREX: Correlation
Measured on weekly returns over the past three years, Energizer Holdings, Inc. (ENR) and Varex Imaging Corporation (VREX) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENR and VREX?
Across a 3-year window, the weekly returns of ENR and VREX correlate at 0.48, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.48). Stretching to 5 years gives 0.40, with an annualized covariance of 1162.7 %².
Few assets follow ENR as closely as VREX, which ranks #2 of 13 tracked partners. The last year tells two different stories: VREX led by 77.9 percentage points, -16.4% for ENR against +61.5% for VREX.
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 VREX: side by side
| ENR (Energizer Holdings, Inc.) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | -16.4% | +61.5% |
| 5-year return | -30.7% | -36.0% |
| Volatility (ann.) | 41.2% | 58.7% |
| Beta vs S&P 500 | 0.78 | 1.91 |
| Max drawdown (3Y) | -56.1% | -67.8% |
| Market cap | $1.5B | $0.8B |
| P/E (trailing) | 18.4 | 34.9 |
| Dividend yield | 5.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENR | VREX |
|---|---|---|
| 2022 | -13.2% | -35.7% |
| 2023 | -2.2% | +1.0% |
| 2024 | +14.4% | -28.8% |
| 2025 | -40.1% | -20.2% |
| 2026 | +16.3% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENR and VREX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ENR and VREX?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.36 over the last year and 0.40 over 5 years.
Is VREX a good diversifier for ENR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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/enr-vs-vrex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/enr-vs-vrex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENR correlations · VREX correlations
