ENVB vs SPY: Correlation
How closely do Enveric Biosciences, Inc. (ENVB) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVB and SPY?
On 3 years of weekly data the ENVB/SPY correlation comes out at 0.07, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.02 lands near the 3-year figure. The 5-year figure is 0.12, and annualized covariance runs at 156.2 %².
Within ENVB's tracked universe of 16 assets, SPY comes in at #8 by 3-year correlation. The last year tells two different stories: SPY led by 112.7 percentage points, -92.1% for ENVB against +20.6% for SPY. One caveat on sizing: ENVB is 11.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SPY: side by side
| ENVB (Enveric Biosciences, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -92.1% | +20.6% |
| 5-year return | -100.0% | +82.4% |
| Volatility (ann.) | 160.8% | 14.5% |
| Beta vs S&P 500 | 0.75 | 1.00 |
| Max drawdown (3Y) | -100.0% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ENVB | SPY |
|---|---|---|
| 2022 | -95.5% | -18.2% |
| 2023 | -37.5% | +26.2% |
| 2024 | -72.5% | +24.9% |
| 2025 | -99.6% | +17.7% |
| 2026 | -62.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVB and SPY good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between ENVB and SPY?
As of 2026-08-27, the correlation of weekly returns between ENVB and SPY is 0.07 over 3 years, 0.02 over 1 year and 0.12 over 5 years.
Is SPY a good diversifier for ENVB?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 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.
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Related comparisons
Hubs: ENVB correlations · SPY correlations
