EVEX vs RDW: Correlation
Eve Holding, Inc. (EVEX) and Redwire Corporation (RDW) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVEX and RDW?
Over the past 3 years, EVEX and RDW moved with a correlation of 0.50, which is moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.50). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 3086.4 %².
Few assets follow EVEX as closely as RDW, which ranks #3 of 15 tracked partners. Their recent paths diverged sharply: over the last 12 months RDW outperformed by 66.2 percentage points (-40.8% for EVEX against +25.4% for RDW). Note the risk asymmetry: RDW runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EVEX vs RDW: side by side
| EVEX (Eve Holding, Inc.) | RDW (Redwire Corporation) | |
|---|---|---|
| 1-year return | -40.8% | +25.4% |
| 5-year return | -72.4% | +12.9% |
| Volatility (ann.) | 60.7% | 101.5% |
| Beta vs S&P 500 | 1.73 | 3.01 |
| Max drawdown (3Y) | -75.8% | -80.3% |
| Market cap | $0.8B | $2.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVEX | RDW |
|---|---|---|
| 2022 | – | -70.7% |
| 2023 | +1.7% | +43.9% |
| 2024 | -25.7% | +477.5% |
| 2025 | -26.7% | -53.8% |
| 2026 | -40.1% | +48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVEX and RDW good diversifiers for each other?
To a limited degree. At 0.50 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 EVEX and RDW?
The EVEX/RDW correlation stands at 0.50 on a 3-year window (1 year: 0.65, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is RDW a good diversifier for EVEX?
To a limited degree. At 0.50 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 0.50 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/evex-vs-rdw.json
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Related comparisons
Hubs: EVEX correlations · RDW correlations
