BALL vs INNV: Correlation
How closely do Ball Corporation (BALL) and InnovAge Holding Corp. (INNV) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BALL and INNV?
Over the past 3 years, BALL and INNV moved with a correlation of 0.45, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.75 versus 0.45 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 744.3 %².
By 3-year correlation, INNV places #22 of the 41 assets tracked against BALL. Their recent paths diverged sharply: over the last 12 months INNV outperformed by 155.6 percentage points (+22.9% for BALL against +178.5% for INNV). Note the risk asymmetry: INNV runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BALL vs INNV: side by side
| BALL (Ball Corporation) | INNV (InnovAge Holding Corp.) | |
|---|---|---|
| 1-year return | +22.9% | +178.5% |
| 5-year return | -29.3% | -27.1% |
| Volatility (ann.) | 26.9% | 61.2% |
| Beta vs S&P 500 | 0.43 | 0.61 |
| Max drawdown (3Y) | -35.6% | -65.4% |
| Market cap | $16.8B | $1.5B |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 1.25% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | BALL | INNV |
|---|---|---|
| 2022 | -46.2% | +43.6% |
| 2023 | +14.1% | -16.4% |
| 2024 | -3.0% | -34.5% |
| 2025 | -2.4% | +32.1% |
| 2026 | +20.4% | +112.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BALL and INNV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BALL and INNV?
As of 2026-08-27, the correlation of weekly returns between BALL and INNV is 0.45 over 3 years, 0.75 over 1 year and 0.26 over 5 years.
Is INNV a good diversifier for BALL?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ball-vs-innv.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BALL correlations · INNV correlations
