RIVN vs. ENVX

Last updated Aug 1, 2026

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

Performance

RIVN vs. ENVX - Performance Comparison

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

Returns By Period

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

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%

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%

*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

RIVN vs. ENVX - Yearly Performance Comparison

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

Correlation

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

Return for Risk

RIVN vs. ENVX — Risk / Return Rank

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

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

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

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.

RIVN vs. ENVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rivian Automotive, Inc. (RIVN) and Enovix Corp (ENVX). 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.

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

RIVN vs. ENVX - Sharpe Ratio Comparison

The current RIVN Sharpe Ratio is 0.26, which is higher than the ENVX Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of RIVN and ENVX, 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

RIVN vs. ENVX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

RIVN vs. ENVX - Volatility Comparison

Rivian Automotive, Inc. (RIVN) and Enovix Corp (ENVX) have volatilities of 29.28% and 29.66%, 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

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

Dividends

RIVN vs. ENVX - Dividend Comparison

Neither RIVN nor ENVX has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both RIVN and ENVX in my portfolio?

RIVN and ENVX 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, RIVN or ENVX?

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

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.