ENVX vs QS: Correlation
Enovix Corporation (ENVX) and QuantumScape Corporation (QS) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVX and QS?
Across a 3-year window, the weekly returns of ENVX and QS correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 4361.3 %².
Few assets follow ENVX as closely as QS, which ranks #3 of 22 tracked partners. Correlation aside, the last 12 months split them widely, with QS ahead by 39.3 points (-65.9% versus -26.6%).
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 QS: side by side
| ENVX (Enovix Corporation) | QS (QuantumScape Corporation) | |
|---|---|---|
| 1-year return | -65.9% | -26.6% |
| 5-year return | -76.8% | -72.4% |
| Volatility (ann.) | 88.0% | 90.7% |
| Beta vs S&P 500 | 2.61 | 2.17 |
| Max drawdown (3Y) | -82.9% | -73.5% |
| Market cap | $0.8B | $3.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVX | QS |
|---|---|---|
| 2022 | -54.4% | -74.4% |
| 2023 | +0.6% | +22.6% |
| 2024 | -13.2% | -25.3% |
| 2025 | -32.8% | +100.8% |
| 2026 | -50.9% | -43.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVX and QS good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ENVX and QS?
As of 2026-08-27, the correlation of weekly returns between ENVX and QS is 0.55 over 3 years, 0.61 over 1 year and 0.50 over 5 years.
Is QS a good diversifier for ENVX?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 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-qs.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ENVX correlations · QS correlations
