CNDT vs INVE: Correlation
Measured on weekly returns over the past three years, Conduent Incorporated (CNDT) and Identiv, Inc. (INVE) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNDT and INVE?
Over the past 3 years, CNDT and INVE moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 1192.9 %².
Among the 13 assets we track against CNDT, INVE ranks #8 by 3-year correlation. The last year tells two different stories: INVE led by 15.5 percentage points, -38.9% for CNDT against -23.4% for INVE.
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.
CNDT vs INVE: side by side
| CNDT (Conduent Incorporated) | INVE (Identiv, Inc.) | |
|---|---|---|
| 1-year return | -38.9% | -23.4% |
| 5-year return | -75.2% | -83.7% |
| Volatility (ann.) | 59.4% | 54.6% |
| Beta vs S&P 500 | 1.11 | 1.05 |
| Max drawdown (3Y) | -73.8% | -72.2% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNDT | INVE |
|---|---|---|
| 2022 | -24.2% | -74.3% |
| 2023 | -9.9% | +13.8% |
| 2024 | +10.7% | -55.6% |
| 2025 | -52.5% | +4.9% |
| 2026 | -9.4% | -26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNDT and INVE good diversifiers for each other?
Reasonably. At 0.37, CNDT and INVE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNDT and INVE?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.34 over the last year and 0.32 over 5 years.
Is INVE a good diversifier for CNDT?
Reasonably. At 0.37, CNDT and INVE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/cndt-vs-inve.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cndt-vs-inve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNDT correlations · INVE correlations
