EVLV vs NPCE: Correlation
How closely do Evolv Technologies Holdings, Inc. (EVLV) and Neuropace, Inc. (NPCE) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVLV and NPCE?
Across a 3-year window, the weekly returns of EVLV and NPCE correlate at 0.38, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.38). Stretching to 5 years gives 0.23, with an annualized covariance of 2068.6 %².
By 3-year correlation, NPCE places #7 of the 12 assets tracked against EVLV. Correlation aside, the last 12 months split them widely, with NPCE ahead by 95.6 points (-36.5% versus +59.1%).
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.
EVLV vs NPCE: side by side
| EVLV (Evolv Technologies Holdings, Inc.) | NPCE (Neuropace, Inc.) | |
|---|---|---|
| 1-year return | -36.5% | +59.1% |
| 5-year return | -34.1% | -32.7% |
| Volatility (ann.) | 78.6% | 69.9% |
| Beta vs S&P 500 | 2.05 | 0.85 |
| Max drawdown (3Y) | -69.2% | -66.3% |
| Market cap | $1.0B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVLV | NPCE |
|---|---|---|
| 2022 | -41.9% | -85.2% |
| 2023 | +82.2% | +591.9% |
| 2024 | -16.3% | +8.5% |
| 2025 | +81.3% | +38.0% |
| 2026 | -25.7% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVLV and NPCE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EVLV and NPCE?
The EVLV/NPCE correlation stands at 0.38 on a 3-year window (1 year: 0.24, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is NPCE a good diversifier for EVLV?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/evlv-vs-npce.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/evlv-vs-npce/)
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Related comparisons
Hubs: EVLV correlations · NPCE correlations
