INNV vs SLGN: Correlation
How closely do InnovAge Holding Corp. (INNV) and Silgan Holdings Inc. (SLGN) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INNV and SLGN?
Over the past 3 years, INNV and SLGN moved with a correlation of 0.43, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.43 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 778.5 %².
SLGN is one of the assets that tracks INNV most closely: it ranks #2 out of the 10 assets we track against INNV. Correlation aside, the last 12 months split them widely, with INNV ahead by 186.4 points (+178.5% versus -7.9%). One caveat on sizing: INNV is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SLGN: side by side
| INNV (InnovAge Holding Corp.) | SLGN (Silgan Holdings Inc.) | |
|---|---|---|
| 1-year return | +178.5% | -7.9% |
| 5-year return | -27.1% | +5.9% |
| Volatility (ann.) | 61.2% | 29.4% |
| Beta vs S&P 500 | 0.61 | 0.58 |
| Max drawdown (3Y) | -65.4% | -35.0% |
| Market cap | $1.5B | $4.4B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 0.00% | 1.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INNV | SLGN |
|---|---|---|
| 2022 | +43.6% | +22.7% |
| 2023 | -16.4% | -11.3% |
| 2024 | -34.5% | +16.8% |
| 2025 | +32.1% | -21.1% |
| 2026 | +112.5% | +4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INNV and SLGN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INNV and SLGN?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.61 over the last year and 0.32 over 5 years.
Is SLGN a good diversifier for INNV?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/innv-vs-slgn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/innv-vs-slgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INNV correlations · SLGN correlations
