INVA vs IVDA: Correlation
How closely do Innoviva, Inc. (INVA) and Iveda Solutions, Inc. (IVDA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVA and IVDA?
Over the past 3 years, INVA and IVDA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -739.7 %².
Among the 13 assets we track against INVA, IVDA sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with INVA ahead by 87.4 points (+5.6% versus -81.8%). Note the risk asymmetry: IVDA runs 5.0 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.
INVA vs IVDA: side by side
| INVA (Innoviva, Inc.) | IVDA (Iveda Solutions, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | -81.8% |
| 5-year return | +36.6% | -99.2% |
| Volatility (ann.) | 25.4% | 125.9% |
| Beta vs S&P 500 | 0.21 | 1.47 |
| Max drawdown (3Y) | -23.5% | -97.4% |
| Market cap | $1.5B | – |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVA | IVDA |
|---|---|---|
| 2022 | -23.2% | -96.8% |
| 2023 | +21.1% | +12.5% |
| 2024 | +8.2% | -2.0% |
| 2025 | +15.2% | -83.0% |
| 2026 | +4.9% | -64.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVA and IVDA good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between INVA and IVDA?
As of 2026-08-27, the correlation of weekly returns between INVA and IVDA is -0.23 over 3 years, -0.47 over 1 year and -0.13 over 5 years.
Is IVDA a good diversifier for INVA?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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
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Related comparisons
Hubs: INVA correlations · IVDA correlations
