ENVX vs INVZ: Correlation
How closely do Enovix Corporation (ENVX) and Innoviz Technologies Ltd. (INVZ) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVX and INVZ?
Across a 3-year window, the weekly returns of ENVX and INVZ correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.42, with an annualized covariance of 4056.8 %².
Within ENVX's tracked universe of 22 assets, INVZ comes in at #8 by 3-year correlation. Over the last 12 months ENVX came out ahead by 13.1 percentage points (-65.9% against -79.0%).
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 INVZ: side by side
| ENVX (Enovix Corporation) | INVZ (Innoviz Technologies Ltd.) | |
|---|---|---|
| 1-year return | -65.9% | -79.0% |
| 5-year return | -76.8% | -95.3% |
| Volatility (ann.) | 88.0% | 103.4% |
| Beta vs S&P 500 | 2.61 | 2.69 |
| Max drawdown (3Y) | -82.9% | -88.5% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVX | INVZ |
|---|---|---|
| 2022 | -54.4% | -38.0% |
| 2023 | +0.6% | -35.6% |
| 2024 | -13.2% | -33.6% |
| 2025 | -32.8% | -49.2% |
| 2026 | -50.9% | -58.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVX and INVZ good diversifiers for each other?
Reasonably. At 0.45, ENVX and INVZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ENVX and INVZ?
As of 2026-08-27, the correlation of weekly returns between ENVX and INVZ is 0.45 over 3 years, 0.26 over 1 year and 0.42 over 5 years.
Is INVZ a good diversifier for ENVX?
Reasonably. At 0.45, ENVX and INVZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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-invz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/envx-vs-invz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENVX correlations · INVZ correlations
