Enovix Corp Correlations
| ENVX Stock | USD 11.76 0.48 4.26% |
The correlation of Enovix Corp is a statistical measure of how it moves in relation to other equities. 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.
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 main economic indicators. 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
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Related Correlations Analysis
BE | ELVA | EOSE | EPOW | AYI | EAF | ||
BE | 0.49 | 0.24 | 0.03 | 0.01 | 0.07 | BE | |
ELVA | 0.49 | 0.43 | 0.24 | -0.57 | 0.28 | ELVA | |
EOSE | 0.24 | 0.43 | 0.9 | -0.64 | 0.86 | EOSE | |
EPOW | 0.03 | 0.24 | 0.9 | -0.56 | 0.93 | EPOW | |
AYI | 0.01 | -0.57 | -0.64 | -0.56 | -0.57 | AYI | |
EAF | 0.07 | 0.28 | 0.86 | 0.93 | -0.57 | EAF | |
BE | ELVA | EOSE | EPOW | AYI | EAF |
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations | High negative correlations |
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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| BE | 3.27 | (0.13) | 0.00 | (0.01) | 0.00 | (0.01) | 0.00 | 8.37 | (5.62) | 21.09 | |
| ELVA | 3.25 | (0.10) | 0.00 | (0.04) | 0.00 | (0.02) | 0.00 | 5.76 | (7.07) | 24.80 | |
| EOSE | 4.43 | (1.15) | 0.00 | (0.40) | 0.00 | (0.18) | 0.00 | 8.82 | (10.75) | 35.83 | |
| EPOW | 3.97 | (0.86) | 0.00 | (1.42) | 0.00 | (0.15) | 0.00 | 5.41 | (9.40) | 42.27 | |
| AYI | 1.15 | 0.23 | 0.14 | 0.23 | 1.26 | 0.14 | (1.23) | 3.70 | (1.84) | 13.11 | |
| EAF | 2.52 | (0.40) | 0.00 | (0.21) | 0.00 | (0.1) | 0.00 | 5.71 | (7.96) | 24.10 |
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?
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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.
| Murali Ramasubramanian | Founder RD | Profile | |
| Ralph Schmitt | VP Devel | Profile | |
| Iryna Romaniv | Head HR | Profile | |
| Steffen CPA | Chief Officer | Profile | |
| Ajay Marathe | Chief Officer | Profile | |
| Charles Anderson | Functional Relations | Profile | |
| Harrold Rust | CEO, CoFounder | Profile |
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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 Shape 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 main economic indicators. For more information on how to buy Enovix Stock please use our How to Invest in Enovix Corp guide.You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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.
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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 (1.27) | Revenue Per Share 0.009 | Quarterly Revenue Growth 24 | Return On Assets (0.25) | Return On Equity (0.54) |
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.