INHD vs PAVS: Correlation
Measured on weekly returns over the past three years, Inno Holdings Inc. (INHD) and Paranovus Entertainment Technology Ltd. - Class A (PAVS) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INHD and PAVS?
Across a 3-year window, the weekly returns of INHD and PAVS correlate at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -97669.5 %².
Out of 25 assets tracked against INHD, PAVS lands near the bottom at #21. Their 12-month results are close: -99.8% for INHD against -100.0% for PAVS. Note the risk asymmetry: INHD runs 16.8 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.
INHD vs PAVS: side by side
| INHD (Inno Holdings Inc.) | PAVS (Paranovus Entertainment Technology Ltd. - Class A) | |
|---|---|---|
| 1-year return | -99.8% | -100.0% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 2238.2% | 133.6% |
| Beta vs S&P 500 | -0.52 | 1.06 |
| Max drawdown (3Y) | -100.0% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 0.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INHD | PAVS |
|---|---|---|
| 2022 | – | -61.1% |
| 2023 | – | -44.6% |
| 2024 | -67.3% | -44.4% |
| 2025 | -99.0% | -98.7% |
| 2026 | -73.7% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INHD and PAVS good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between INHD and PAVS?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.34 over the last year and n/a over 5 years.
Is PAVS a good diversifier for INHD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/inhd-vs-pavs.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INHD correlations · PAVS correlations
