INVA vs PINE: Correlation
How closely do Innoviva, Inc. (INVA) and Alpine Income Property Trust, Inc. (PINE) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVA and PINE?
Across a 3-year window, the weekly returns of INVA and PINE correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 279.2 %².
In INVA's tracked universe of 13 assets, PINE sits right near the top at #1. The last year tells two different stories: PINE led by 32.3 percentage points, +5.6% for INVA against +37.9% for PINE.
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 PINE: side by side
| INVA (Innoviva, Inc.) | PINE (Alpine Income Property Trust, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +37.9% |
| 5-year return | +36.6% | +43.8% |
| Volatility (ann.) | 25.4% | 23.9% |
| Beta vs S&P 500 | 0.21 | 0.19 |
| Max drawdown (3Y) | -23.5% | -24.8% |
| Market cap | $1.5B | $0.4B |
| P/E (trailing) | 4.9 | 93.5 |
| Dividend yield | 0.00% | 5.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVA | PINE |
|---|---|---|
| 2022 | -23.2% | +0.9% |
| 2023 | +21.1% | -5.5% |
| 2024 | +8.2% | +6.1% |
| 2025 | +15.2% | +7.0% |
| 2026 | +4.9% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVA and PINE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INVA and PINE?
The INVA/PINE correlation stands at 0.46 on a 3-year window (1 year: 0.52, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is PINE a good diversifier for INVA?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/inva-vs-pine.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INVA correlations · PINE correlations
