CCNE vs INVA: Correlation
How closely do CNB Financial Corporation (CCNE) and Innoviva, Inc. (INVA) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and INVA?
Across a 3-year window, the weekly returns of CCNE and INVA correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 323.7 %².
Within CCNE's tracked universe of 27 assets, INVA comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CCNE ahead by 24.6 points (+30.2% versus +5.6%).
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.
CCNE vs INVA: side by side
| CCNE (CNB Financial Corporation) | INVA (Innoviva, Inc.) | |
|---|---|---|
| 1-year return | +30.2% | +5.6% |
| 5-year return | +61.1% | +36.6% |
| Volatility (ann.) | 29.0% | 25.4% |
| Beta vs S&P 500 | 0.84 | 0.21 |
| Max drawdown (3Y) | -29.7% | -23.5% |
| Market cap | $1.0B | $1.5B |
| P/E (trailing) | 10.6 | 4.9 |
| Dividend yield | 2.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | INVA |
|---|---|---|
| 2022 | -7.8% | -23.2% |
| 2023 | -1.6% | +21.1% |
| 2024 | +13.6% | +8.2% |
| 2025 | +8.4% | +15.2% |
| 2026 | +31.5% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and INVA good diversifiers for each other?
Reasonably. At 0.44, CCNE and INVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CCNE and INVA?
The CCNE/INVA correlation stands at 0.44 on a 3-year window (1 year: 0.46, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is INVA a good diversifier for CCNE?
Reasonably. At 0.44, CCNE and INVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccne-vs-inva.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccne-vs-inva/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCNE correlations · INVA correlations
