ENVB vs MXL: Correlation
How closely do Enveric Biosciences, Inc. (ENVB) and MaxLinear, Inc (MXL) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVB and MXL?
On 3 years of weekly data the ENVB/MXL correlation comes out at 0.52, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.52 over 3 years. The 5-year figure is 0.47, and annualized covariance runs at 8848.4 %².
MXL is one of the assets that tracks ENVB most closely: it ranks #1 out of the 16 assets we track against ENVB. Correlation aside, the last 12 months split them widely, with MXL ahead by 371.0 points (-92.1% versus +278.9%). Note the risk asymmetry: ENVB runs 1.5 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.
ENVB vs MXL: side by side
| ENVB (Enveric Biosciences, Inc.) | MXL (MaxLinear, Inc) | |
|---|---|---|
| 1-year return | -92.1% | +278.9% |
| 5-year return | -100.0% | +19.8% |
| Volatility (ann.) | 160.8% | 105.2% |
| Beta vs S&P 500 | 0.75 | 2.50 |
| Max drawdown (3Y) | -100.0% | -63.9% |
| Market cap | – | $5.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVB | MXL |
|---|---|---|
| 2022 | -95.5% | -55.0% |
| 2023 | -37.5% | -30.0% |
| 2024 | -72.5% | -16.8% |
| 2025 | -99.6% | -11.9% |
| 2026 | -62.3% | +263.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVB and MXL good diversifiers for each other?
Only partially. A correlation of 0.52 means ENVB and MXL 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 ENVB and MXL?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.76 over the last year and 0.47 over 5 years.
Is MXL a good diversifier for ENVB?
Only partially. A correlation of 0.52 means ENVB and MXL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/envb-vs-mxl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/envb-vs-mxl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENVB correlations · MXL correlations
