Enovis Corporation (ENOV) — Stock Correlations & Overview
Over the past year, ENOV has moved most closely with XHE, MDEV, IHI. Explore the stocks most correlated and inversely correlated with ENOV below, along with its price, financials, and company profile.
Stocks correlated with ENOV
Correlation of daily returns. Higher positive values move with ENOV; negative values move opposite it. Informational only, not investment advice.
Most correlated with ENOV
| Symbol | Company | Correlation |
|---|---|---|
| XHE | State Street SPDR S&P Health Care Equipment ETF | 0.64 |
| MDEV | First Trust Indxx Medical Devices ETF | 0.59 |
| IHI | iShares U.S. Medical Devices ETF | 0.57 |
| SMLL | Harbor Active Small Cap ETF | 0.55 |
| BSMC | Brandes U.S. Small-Mid Cap Value ETF | 0.54 |
Most inversely correlated with ENOV
| Symbol | Company | Correlation |
|---|---|---|
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.56 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.53 |
| SBB | ProShares Short SmallCap600 | -0.45 |
| SDD | ProShares UltraShort SmallCap600 | -0.44 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.43 |
Frequently asked questions about ENOV correlations
- Which stocks are most correlated with ENOV?
- Based on one year of daily returns, the stocks most correlated with Enovis Corporation (ENOV) are XHE (0.64), MDEV (0.59) and IHI (0.57). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ENOV?
- Over the past year, the stocks most inversely correlated with Enovis Corporation (ENOV) are DWSH (-0.56), HDGE (-0.53) and SBB (-0.45). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ENOV correlations calculated?
- We compute the correlation of daily returns between ENOV and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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