Enovix Corp Correlations
| ENVX Stock | USD 5.98 0.28 4.47% |
The correlation of Enovix Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Enovix Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enovix Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Enovix Corp and NYA is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enovix Corp and NYA in the same portfolio, assuming nothing else is changed.
Enovix |
The ability to find closely correlated positions to Enovix Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enovix Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enovix Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enovix Corp to buy it.
Moving together with Enovix Stock
| 0.66 | ELVA | Electrovaya Common Shares | PairCorr |
| 0.85 | FCEL | FuelCell Energy Financial Report 13th of June 2024 | PairCorr |
| 0.64 | ENR | Energizer Holdings Financial Report 13th of May 2024 | PairCorr |
| 0.81 | GWH | ESS Tech Financial Report 14th of May 2024 | PairCorr |
Moving against Enovix Stock
| 0.78 | ROBOF | RoboGroup TEK | PairCorr |
| 0.68 | ENCPW | Energem Corp Warrant | PairCorr |
| 0.66 | WIRE | Encore Wire Earnings Call Today | PairCorr |
| 0.63 | AYI | Acuity Brands Financial Report 4th of July 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Enovix Stock performing well and Enovix Corp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Enovix Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.Be your own money manager
Our tools can tell you how much better you can do entering a position in Enovix Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run FinTech Suite Now
FinTech SuiteUse AI to screen and filter profitable investment opportunities |
| All Next | Launch Module |
Enovix Corp Corporate Management
Elected by the shareholders, the Enovix Corp's board of directors comprises two types of representatives: Enovix Corp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enovix. The board's role is to monitor Enovix Corp's management team and ensure that shareholders' interests are well served. Enovix Corp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enovix Corp's outside directors are responsible for providing unbiased perspectives on the board's policies.
| James Wilcox | VP Mobility | Profile | |
| Kristin Atkins | Vice Marketing | Profile | |
| Iryna Romaniv | Vice Resources | Profile | |
| Charles Anderson | Functional Relations | Profile | |
| Harrold Rust | CEO, CoFounder | Profile | |
| Ashok Lahiri | Founder CTO | Profile | |
| Murali Ramasubramanian | Founder RD | Profile |
Already Invested in Enovix Corp?
The danger of trading Enovix Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Enovix Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Enovix Corp. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Enovix Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Enovix Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Enovix Corp's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Enovix Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Enovix Corp Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enovix Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real. For more information on how to buy Enovix Stock please use our How to Invest in Enovix Corp guide.You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Enovix Stock analysis
When running Enovix Corp's price analysis, check to measure Enovix Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Enovix Corp is operating at the current time. Most of Enovix Corp's value examination focuses on studying past and present price action to predict the probability of Enovix Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enovix Corp's price. Additionally, you may evaluate how the addition of Enovix Corp to your portfolios can decrease your overall portfolio volatility.
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation |
Is Enovix Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Enovix Corp. If investors know Enovix will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Enovix Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.38) | Revenue Per Share 0.048 | Quarterly Revenue Growth 5.753 | Return On Assets (0.24) | Return On Equity (0.69) |
The market value of Enovix Corp is measured differently than its book value, which is the value of Enovix that is recorded on the company's balance sheet. Investors also form their own opinion of Enovix Corp's value that differs from its market value or its book value, called intrinsic value, which is Enovix Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Enovix Corp's market value can be influenced by many factors that don't directly affect Enovix Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Enovix Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Enovix Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Enovix Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.