BSX vs INNV: Correlation
Measured on weekly returns over the past three years, Boston Scientific (BSX) and InnovAge Holding Corp. (INNV) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and INNV?
Across a 3-year window, the weekly returns of BSX and INNV correlate at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.21). Stretching to 5 years gives -0.09, with an annualized covariance of -359.7 %².
Among the 33 assets we track against BSX, INNV ranks #25 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INNV ahead by 234.4 points (-55.9% versus +178.5%). One caveat on sizing: INNV is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BSX vs INNV: side by side
| BSX (Boston Scientific) | INNV (InnovAge Holding Corp.) | |
|---|---|---|
| 1-year return | -55.9% | +178.5% |
| 5-year return | +4.1% | -27.1% |
| Volatility (ann.) | 27.6% | 61.2% |
| Beta vs S&P 500 | 0.72 | 0.61 |
| Max drawdown (3Y) | -60.6% | -65.4% |
| Market cap | $67.6B | $1.5B |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | INNV |
|---|---|---|
| 2022 | +8.9% | +43.6% |
| 2023 | +24.9% | -16.4% |
| 2024 | +54.5% | -34.5% |
| 2025 | +6.8% | +32.1% |
| 2026 | -51.1% | +112.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and INNV good diversifiers for each other?
Yes. With a correlation of -0.21, BSX and INNV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSX and INNV?
The BSX/INNV correlation stands at -0.21 on a 3-year window (1 year: -0.41, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is INNV a good diversifier for BSX?
Yes. With a correlation of -0.21, BSX and INNV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: BSX correlations · INNV correlations
