INNV vs KELYB: Correlation
Measured on weekly returns over the past three years, InnovAge Holding Corp. (INNV) and Kelly Services, Inc. (KELYB) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INNV and KELYB?
Over the past 3 years, INNV and KELYB moved with a correlation of 0.42, which is moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.42). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1549.5 %².
KELYB is one of the assets that tracks INNV most closely: it ranks #3 out of the 10 assets we track against INNV. Their recent paths diverged sharply: over the last 12 months INNV outperformed by 115.7 percentage points (+178.5% for INNV against +62.8% for KELYB).
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.
INNV vs KELYB: side by side
| INNV (InnovAge Holding Corp.) | KELYB (Kelly Services, Inc.) | |
|---|---|---|
| 1-year return | +178.5% | +62.8% |
| 5-year return | -27.1% | +26.3% |
| Volatility (ann.) | 61.2% | 60.8% |
| Beta vs S&P 500 | 0.61 | 0.40 |
| Max drawdown (3Y) | -65.4% | -66.9% |
| Market cap | $1.5B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INNV | KELYB |
|---|---|---|
| 2022 | +43.6% | +3.1% |
| 2023 | -16.4% | +27.5% |
| 2024 | -34.5% | -34.7% |
| 2025 | +32.1% | -35.9% |
| 2026 | +112.5% | +170.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INNV and KELYB good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INNV and KELYB?
As of 2026-08-27, the correlation of weekly returns between INNV and KELYB is 0.42 over 3 years, 0.54 over 1 year and 0.24 over 5 years.
Is KELYB a good diversifier for INNV?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/innv-vs-kelyb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/innv-vs-kelyb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INNV correlations · KELYB correlations
