EVI vs VREX: Correlation
How closely do EVI Industries, Inc. (EVI) and Varex Imaging Corporation (VREX) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVI and VREX?
Across a 3-year window, the weekly returns of EVI and VREX correlate at 0.41, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.41 over 3. Stretching to 5 years gives 0.27, with an annualized covariance of 1210.7 %².
In EVI's tracked universe of 12 assets, VREX sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months VREX outperformed by 107.5 percentage points (-46.0% for EVI against +61.5% for VREX).
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.
EVI vs VREX: side by side
| EVI (EVI Industries, Inc.) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | -46.0% | +61.5% |
| 5-year return | -38.2% | -36.0% |
| Volatility (ann.) | 50.2% | 58.7% |
| Beta vs S&P 500 | 1.05 | 1.91 |
| Max drawdown (3Y) | -59.0% | -67.8% |
| Market cap | $0.2B | $0.8B |
| P/E (trailing) | 32.7 | 34.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVI | VREX |
|---|---|---|
| 2022 | -23.6% | -35.7% |
| 2023 | +0.5% | +1.0% |
| 2024 | -30.0% | -28.8% |
| 2025 | +52.2% | -20.2% |
| 2026 | -40.3% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVI and VREX good diversifiers for each other?
Reasonably. At 0.41, EVI and VREX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVI and VREX?
As of 2026-08-27, the correlation of weekly returns between EVI and VREX is 0.41 over 3 years, 0.32 over 1 year and 0.27 over 5 years.
Is VREX a good diversifier for EVI?
Reasonably. At 0.41, EVI and VREX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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
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Related comparisons
Hubs: EVI correlations · VREX correlations
