IEX vs IVVD: Correlation
IDEX Corporation (IEX) and Invivyd, Inc. (IVVD) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and IVVD?
On 3 years of weekly data the IEX/IVVD correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.23). The 5-year figure is -0.15, and annualized covariance runs at -1622.8 %².
Out of 40 assets tracked against IEX, IVVD lands near the bottom at #37. Their recent paths diverged sharply: over the last 12 months IEX outperformed by 39.7 percentage points (+43.0% for IEX against +3.3% for IVVD). Note the risk asymmetry: IVVD runs 13.1 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.
IEX vs IVVD: side by side
| IEX (IDEX Corporation) | IVVD (Invivyd, Inc.) | |
|---|---|---|
| 1-year return | +43.0% | +3.3% |
| 5-year return | +10.5% | -97.2% |
| Volatility (ann.) | 23.3% | 305.9% |
| Beta vs S&P 500 | 0.89 | 1.87 |
| Max drawdown (3Y) | -34.6% | -92.9% |
| Market cap | $17.2B | $0.3B |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 1.23% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IEX | IVVD |
|---|---|---|
| 2022 | -2.2% | -79.3% |
| 2023 | -3.8% | +162.7% |
| 2024 | -2.4% | -88.8% |
| 2025 | -13.7% | +457.6% |
| 2026 | +32.9% | -63.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and IVVD good diversifiers for each other?
Yes. With a correlation of -0.23, IEX and IVVD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IEX and IVVD?
The IEX/IVVD correlation stands at -0.23 on a 3-year window (1 year: -0.05, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is IVVD a good diversifier for IEX?
Yes. With a correlation of -0.23, IEX and IVVD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/iex-vs-ivvd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iex-vs-ivvd/)
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Related comparisons
Hubs: IEX correlations · IVVD correlations
