GRC vs INNV: Correlation
Measured on weekly returns over the past three years, Gorman-Rupp Company (The) (GRC) and InnovAge Holding Corp. (INNV) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRC and INNV?
Across a 3-year window, the weekly returns of GRC and INNV correlate at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 759.2 %².
Among the 14 assets we track against GRC, INNV ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months INNV outperformed by 96.1 percentage points (+82.4% for GRC against +178.5% for INNV). Note the risk asymmetry: INNV runs 2.0 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.
GRC vs INNV: side by side
| GRC (Gorman-Rupp Company (The)) | INNV (InnovAge Holding Corp.) | |
|---|---|---|
| 1-year return | +82.4% | +178.5% |
| 5-year return | +143.0% | -27.1% |
| Volatility (ann.) | 30.6% | 61.2% |
| Beta vs S&P 500 | 0.85 | 0.61 |
| Max drawdown (3Y) | -26.9% | -65.4% |
| Market cap | $2.0B | $1.5B |
| P/E (trailing) | 32.7 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRC | INNV |
|---|---|---|
| 2022 | -41.2% | +43.6% |
| 2023 | +42.2% | -16.4% |
| 2024 | +8.9% | -34.5% |
| 2025 | +28.2% | +32.1% |
| 2026 | +63.7% | +112.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRC and INNV good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRC and INNV?
As of 2026-08-27, the correlation of weekly returns between GRC and INNV is 0.41 over 3 years, 0.50 over 1 year and 0.28 over 5 years.
Is INNV a good diversifier for GRC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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
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Related comparisons
Hubs: GRC correlations · INNV correlations
