EVLV vs RVT: Correlation
How closely do Evolv Technologies Holdings, Inc. (EVLV) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVLV and RVT?
Over the past 3 years, EVLV and RVT moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.47). Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 702.6 %².
Among the 12 assets we track against EVLV, RVT ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RVT outperformed by 63.9 percentage points (-36.5% for EVLV against +27.4% for RVT). Risk is not evenly split, since EVLV carries 4.1 times the volatility of the other side.
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 RVT: side by side
| EVLV (Evolv Technologies Holdings, Inc.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -36.5% | +27.4% |
| 5-year return | -34.1% | +53.9% |
| Volatility (ann.) | 78.6% | 19.1% |
| Beta vs S&P 500 | 2.05 | 0.99 |
| Max drawdown (3Y) | -69.2% | -23.5% |
| Market cap | $1.0B | $2.3B |
| P/E (trailing) | – | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVLV | RVT |
|---|---|---|
| 2022 | -41.9% | -26.3% |
| 2023 | +82.2% | +18.8% |
| 2024 | -16.3% | +17.9% |
| 2025 | +81.3% | +11.5% |
| 2026 | -25.7% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVLV and RVT good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EVLV and RVT?
The EVLV/RVT correlation stands at 0.47 on a 3-year window (1 year: 0.31, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is RVT a good diversifier for EVLV?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/evlv-vs-rvt.json
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[](https://www.pairbook.io/pair/evlv-vs-rvt/)
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Related comparisons
Hubs: EVLV correlations · RVT correlations
