ENVX vs WKSP: Correlation
Enovix Corporation (ENVX) and Worksport, Ltd. (WKSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVX and WKSP?
On 3 years of weekly data the ENVX/WKSP correlation comes out at 0.38, moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.38). The 5-year figure is 0.26, and annualized covariance runs at 3686.8 %².
Within ENVX's tracked universe of 22 assets, WKSP comes in at #16 by 3-year correlation. On 12-month performance ENVX holds a 13.6-point edge, -65.9% against -79.5%.
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 WKSP: side by side
| ENVX (Enovix Corporation) | WKSP (Worksport, Ltd.) | |
|---|---|---|
| 1-year return | -65.9% | -79.5% |
| 5-year return | -76.8% | -98.8% |
| Volatility (ann.) | 88.0% | 108.8% |
| Beta vs S&P 500 | 2.61 | 1.80 |
| Max drawdown (3Y) | -82.9% | -98.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVX | WKSP |
|---|---|---|
| 2022 | -54.4% | -58.9% |
| 2023 | +0.6% | +49.7% |
| 2024 | -13.2% | -38.3% |
| 2025 | -32.8% | -76.8% |
| 2026 | -50.9% | -70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVX and WKSP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ENVX and WKSP?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.19 over the last year and 0.26 over 5 years.
Is WKSP a good diversifier for ENVX?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/envx-vs-wksp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/envx-vs-wksp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENVX correlations · WKSP correlations
