ENVX vs EVGO: Correlation
Enovix Corporation (ENVX) and EVgo Inc. (EVGO) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVX and EVGO?
Across a 3-year window, the weekly returns of ENVX and EVGO correlate at 0.48, moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.48). Stretching to 5 years gives 0.47, with an annualized covariance of 3622.3 %².
By 3-year correlation, EVGO places #6 of the 22 assets tracked against ENVX. Their 12-month results are close: -65.9% for ENVX against -64.4% for EVGO.
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 EVGO: side by side
| ENVX (Enovix Corporation) | EVGO (EVgo Inc.) | |
|---|---|---|
| 1-year return | -65.9% | -64.4% |
| 5-year return | -76.8% | -84.3% |
| Volatility (ann.) | 88.0% | 85.3% |
| Beta vs S&P 500 | 2.61 | 1.93 |
| Max drawdown (3Y) | -82.9% | -84.1% |
| Market cap | $0.8B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVX | EVGO |
|---|---|---|
| 2022 | -54.4% | -55.0% |
| 2023 | +0.6% | -19.9% |
| 2024 | -13.2% | +13.1% |
| 2025 | -32.8% | -28.1% |
| 2026 | -50.9% | -50.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVX and EVGO good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENVX and EVGO?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.60 over the last year and 0.47 over 5 years.
Is EVGO a good diversifier for ENVX?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/envx-vs-evgo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/envx-vs-evgo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENVX correlations · EVGO correlations
