ENVX vs EOSE: Correlation
Measured on weekly returns over the past three years, Enovix Corporation (ENVX) and Eos Energy Enterprises, Inc. (EOSE) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVX and EOSE?
Over the past 3 years, ENVX and EOSE moved with a correlation of 0.40, which is moderate. The link has tightened recently: the 1-year correlation (0.53) runs above the 3-year figure (0.40). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 3821.6 %².
Among the 22 assets we track against ENVX, EOSE ranks #14 by 3-year correlation. Over the last 12 months EOSE came out ahead by 13.9 percentage points (-65.9% against -52.0%).
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.
ENVX vs EOSE: side by side
| ENVX (Enovix Corporation) | EOSE (Eos Energy Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -65.9% | -52.0% |
| 5-year return | -76.8% | -73.5% |
| Volatility (ann.) | 88.0% | 107.4% |
| Beta vs S&P 500 | 2.61 | 2.71 |
| Max drawdown (3Y) | -82.9% | -83.6% |
| Market cap | $0.8B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVX | EOSE |
|---|---|---|
| 2022 | -54.4% | -80.3% |
| 2023 | +0.6% | -26.4% |
| 2024 | -13.2% | +345.9% |
| 2025 | -32.8% | +135.8% |
| 2026 | -50.9% | -70.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVX and EOSE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ENVX and EOSE?
The ENVX/EOSE correlation stands at 0.40 on a 3-year window (1 year: 0.53, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is EOSE a good diversifier for ENVX?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/envx-vs-eose.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/envx-vs-eose/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENVX correlations · EOSE correlations
