INV vs NOC: Correlation
Innventure, Inc. (INV) and Northrop Grumman (NOC) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INV and NOC?
Over the past 3 years, INV and NOC moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -507.4 %².
Among the 16 assets we track against INV, NOC sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with NOC ahead by 63.8 points (-69.4% versus -5.6%). One caveat on sizing: INV is 3.4 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.
INV vs NOC: side by side
| INV (Innventure, Inc.) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | -69.4% | -5.6% |
| 5-year return | -85.4% | +60.1% |
| Volatility (ann.) | 90.9% | 26.7% |
| Beta vs S&P 500 | 1.31 | 0.24 |
| Max drawdown (3Y) | -90.4% | -35.1% |
| Market cap | $0.1B | $77.4B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | INV | NOC |
|---|---|---|
| 2022 | +1.1% | +43.0% |
| 2023 | +7.3% | -12.8% |
| 2024 | +27.8% | +1.9% |
| 2025 | -69.8% | +23.6% |
| 2026 | -65.1% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INV and NOC good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INV and NOC?
The INV/NOC correlation stands at -0.21 on a 3-year window (1 year: -0.24, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is NOC a good diversifier for INV?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/inv-vs-noc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/inv-vs-noc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INV correlations · NOC correlations
