ARDT vs INNV: Correlation
Measured on weekly returns over the past three years, Ardent Health, Inc. (ARDT) and InnovAge Holding Corp. (INNV) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and INNV?
On 3 years of weekly data the ARDT/INNV correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.41 over 3. The 5-year figure is n/a, and annualized covariance runs at 1256.2 %².
Few assets follow ARDT as closely as INNV, which ranks #3 of 22 tracked partners. The last year tells two different stories: INNV led by 192.0 percentage points, -13.5% for ARDT against +178.5% for INNV.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARDT vs INNV: side by side
| ARDT (Ardent Health, Inc.) | INNV (InnovAge Holding Corp.) | |
|---|---|---|
| 1-year return | -13.5% | +178.5% |
| 5-year return | n/a | -27.1% |
| Volatility (ann.) | 48.5% | 61.2% |
| Beta vs S&P 500 | 0.65 | 0.61 |
| Max drawdown (3Y) | -61.2% | -65.4% |
| Market cap | $1.6B | $1.5B |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | INNV |
|---|---|---|
| 2022 | – | +43.6% |
| 2023 | – | -16.4% |
| 2024 | – | -34.5% |
| 2025 | -48.3% | +32.1% |
| 2026 | +24.5% | +112.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and INNV good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARDT and INNV?
As of 2026-08-27, the correlation of weekly returns between ARDT and INNV is 0.41 over 3 years, 0.41 over 1 year and n/a over 5 years.
Is INNV a good diversifier for ARDT?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ardt-vs-innv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ardt-vs-innv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARDT correlations · INNV correlations
