CHCI vs INVA: Correlation
How closely do Comstock Holding Companies, Inc. (CHCI) and Innoviva, Inc. (INVA) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCI and INVA?
Across a 3-year window, the weekly returns of CHCI and INVA correlate at 0.25, weak. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Stretching to 5 years gives 0.13, with an annualized covariance of 356.0 %².
By 3-year correlation, INVA places #4 of the 10 assets tracked against CHCI. On 12-month performance CHCI holds a 8.5-point edge, +14.1% against +5.6%. Note the risk asymmetry: CHCI runs 2.2 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.
CHCI vs INVA: side by side
| CHCI (Comstock Holding Companies, Inc.) | INVA (Innoviva, Inc.) | |
|---|---|---|
| 1-year return | +14.1% | +5.6% |
| 5-year return | +236.2% | +36.6% |
| Volatility (ann.) | 56.1% | 25.4% |
| Beta vs S&P 500 | -0.23 | 0.21 |
| Max drawdown (3Y) | -47.9% | -23.5% |
| Market cap | $0.2B | $1.5B |
| P/E (trailing) | 8.4 | 4.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHCI | INVA |
|---|---|---|
| 2022 | -12.4% | -23.2% |
| 2023 | +4.2% | +21.1% |
| 2024 | +82.4% | +8.2% |
| 2025 | +43.8% | +15.2% |
| 2026 | +71.0% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCI and INVA good diversifiers for each other?
Reasonably. At 0.25, CHCI and INVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHCI and INVA?
As of 2026-08-27, the correlation of weekly returns between CHCI and INVA is 0.25 over 3 years, 0.32 over 1 year and 0.13 over 5 years.
Is INVA a good diversifier for CHCI?
Reasonably. At 0.25, CHCI and INVA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 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/chci-vs-inva.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chci-vs-inva/)
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Related comparisons
Hubs: CHCI correlations · INVA correlations
