ENVX vs. RIVN

Last updated Aug 1, 2026

ENVX (Enovix Corp) and RIVN (Rivian Automotive, Inc.) are both stocks. ENVX operates in Electrical Equipment & Parts (Industrials), while RIVN operates in Auto Manufacturers (Consumer Cyclical). Over the past 3 years, ENVX returned -39.64%/yr vs -17.70%/yr for RIVN. Their 0.47 correlation means their historical movements had little consistent relationship.

Performance

ENVX vs. RIVN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enovix Corp (ENVX) and Rivian Automotive, Inc. (RIVN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENVX achieves a -44.05% return, which is significantly lower than RIVN's -22.78% return.

ENVX

• 1D: -2.15%
• 1M: -23.69%
• 6M: -38.22%
• YTD: -44.05%
• 1Y: -61.79%
• 3Y*: -39.64%
• 5Y*: -22.30%
• 10Y*: —
• ALL TIME*: -26.11%

RIVN

• 1D: -9.57%
• 1M: -18.30%
• 6M: 3.19%
• YTD: -22.78%
• 1Y: 22.94%
• 3Y*: -17.70%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -33.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ENVX Enovix Corp	$26.94M	$29.51M	$42.89M
RIVN Rivian Automotive, Inc.	$445.46M	$715.96M	$567.37M

ENVX vs. RIVN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ENVX Enovix Corp	-44.05%	-23.14%	-13.18%	0.64%	-54.40%	-8.15%
RIVN Rivian Automotive, Inc.	-22.78%	48.20%	-43.31%	27.29%	-82.23%	-2.87%

Correlation

The correlation between ENVX and RIVN is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.43
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.47

Fundamentals

Market Cap ENVX : $892.25M RIVN : $18.48B
EPS ENVX : -$182.30 RIVN : -$2.59
PS Ratio ENVX : 0.11 RIVN : 3.23
PB Ratio ENVX : 0.00 RIVN : 3.82
Total Revenue (TTM) ENVX : $7.63B RIVN : $5.88B
Gross Profit (TTM) ENVX : $1.56B RIVN : $290.00M
EBITDA (TTM) ENVX : -$43.98B RIVN : -$2.45B

Return for Risk

ENVX vs. RIVN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ENVX

ENVX Risk / Return Rank: 7
ENVX Sharpe Ratio Rank: 9
ENVX Sortino Ratio Rank: 9
ENVX Omega Ratio Rank: 11
ENVX Calmar Ratio Rank: 4
ENVX Martin Ratio Rank: 4

RIVN

RIVN Risk / Return Rank: 56
RIVN Sharpe Ratio Rank: 54
RIVN Sortino Ratio Rank: 58
RIVN Omega Ratio Rank: 56
RIVN Calmar Ratio Rank: 56
RIVN Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ENVX vs. RIVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enovix Corp (ENVX) and Rivian Automotive, Inc. (RIVN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ENVX	RIVN	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	0.26	-1.07
Sortino ratio: Return per unit of downside risk	-1.26	0.95	-2.21
Omega ratio: Gain probability vs. loss probability	0.85	1.11	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.97	0.43	-1.40
Martin ratio: Return relative to average drawdown	-1.58	0.79	-2.37

ENVX vs. RIVN - Sharpe Ratio Comparison

The current ENVX Sharpe Ratio is -0.81, which is lower than the RIVN Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of ENVX and RIVN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ENVX vs. RIVN - Drawdown Comparison

The maximum ENVX drawdown since its inception was -88.26%, smaller than the maximum RIVN drawdown of -95.12%. Use the drawdown chart below to compare losses from any high point for ENVX and RIVN.

Drawdown Indicators

	ENVX	RIVN	Difference
Max Drawdown Largest peak-to-trough decline	-88.26%	-95.12%	+6.86%
Max Drawdown (1Y) Largest decline over 1 year	-72.10%	-42.54%	-29.56%
Max Drawdown (3Y) Largest decline over 3 years	-77.03%	-66.75%	-10.28%
Max Drawdown (5Y) Largest decline over 5 years	-88.26%	—	—
Current Drawdown Current decline from peak	-86.95%	-91.15%	+4.20%
Average Drawdown Average peak-to-trough decline	-63.49%	-86.44%	+22.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.53%	23.26%	+22.27%

Volatility

ENVX vs. RIVN - Volatility Comparison

Enovix Corp (ENVX) and Rivian Automotive, Inc. (RIVN) have volatilities of 29.66% and 29.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENVX	RIVN	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.66%	29.28%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	62.21%	53.37%	+8.84%
Volatility (1Y) Calculated over the trailing 1-year period	86.07%	71.02%	+15.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.84%	77.79%	+16.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.89%	77.79%	+16.10%

Dividends

ENVX vs. RIVN - Dividend Comparison

Neither ENVX nor RIVN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ENVX and RIVN in my portfolio?

ENVX and RIVN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENVX or RIVN?

ENVX has higher volatility (29.66%) compared to RIVN (29.28%). In terms of maximum drawdown, ENVX dropped -88.26% vs RIVN's -95.12%.

Which has better risk-adjusted returns?

RIVN currently has the higher Sharpe Ratio (0.26 vs -0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.