ENVX vs. SPY
ENVX (Enovix Corp) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, ENVX returned -19.35%/yr vs 20.68%/yr for SPY. At a 0.49 correlation, their price movements are largely independent.
Performance
ENVX vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, ENVX achieves a -13.41% return, which is significantly lower than SPY's 8.15% return.
ENVX
- 1D
- -10.21%
- 1M
- -5.24%
- YTD
- -13.41%
- 6M
- -24.64%
- 1Y
- -10.80%
- 3Y*
- -19.35%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
ENVX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ENVX Enovix Corp | -13.41% | -23.14% | -13.18% | 0.64% | -54.40% | 26.88% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -18.18% | 9.61% |
Correlation
The correlation between ENVX and SPY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021 | 0.49 |
The correlation between ENVX and SPY has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.
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Return for Risk
ENVX vs. SPY — Risk / Return Rank
ENVX
SPY
ENVX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enovix Corp (ENVX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.34 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.67 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.22 | 11.92 | -12.14 |
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Drawdowns
ENVX vs. SPY - Drawdown Comparison
The maximum ENVX drawdown since its inception was -84.76%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ENVX and SPY.
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Drawdown Indicators
| ENVX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.76% | -55.19% | -29.57% |
Max Drawdown (1Y)Largest decline over 1 year | -69.62% | -8.88% | -60.74% |
Max Drawdown (3Y)Largest decline over 3 years | -75.42% | -18.76% | -56.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -79.80% | -3.17% | -76.63% |
Average DrawdownAverage peak-to-trough decline | -63.04% | -9.04% | -54.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.40% | 1.98% | +46.42% |
Volatility
ENVX vs. SPY - Volatility Comparison
Enovix Corp (ENVX) has a higher volatility of 28.85% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that ENVX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENVX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.85% | 4.87% | +23.98% |
Volatility (6M)Calculated over the trailing 6-month period | 59.12% | 9.85% | +49.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.04% | 12.50% | +76.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.88% | 17.15% | +76.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.88% | 17.95% | +75.93% |
Dividends
ENVX vs. SPY - Dividend Comparison
ENVX has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENVX Enovix Corp | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.03% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
ENVX and SPY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENVX has higher volatility (28.85%) compared to SPY (4.87%). In terms of maximum drawdown, ENVX dropped -84.76% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.90 vs -0.12), 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.
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