INVA vs RDZN: Correlation
Innoviva, Inc. (INVA) and Roadzen, Inc. (RDZN) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVA and RDZN?
On 3 years of weekly data the INVA/RDZN correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -671.4 %².
Among the 13 assets we track against INVA, RDZN sits near the bottom by co-movement, at rank #10. The last year tells two different stories: RDZN led by 44.9 percentage points, +5.6% for INVA against +50.5% for RDZN. Note the risk asymmetry: RDZN runs 4.8 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 RDZN: side by side
| INVA (Innoviva, Inc.) | RDZN (Roadzen, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +50.5% |
| 5-year return | +36.6% | -84.9% |
| Volatility (ann.) | 25.4% | 122.6% |
| Beta vs S&P 500 | 0.21 | 1.57 |
| Max drawdown (3Y) | -23.5% | -94.0% |
| Market cap | $1.5B | $0.1B |
| P/E (trailing) | 4.9 | 6.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVA | RDZN |
|---|---|---|
| 2022 | -23.2% | – |
| 2023 | +21.1% | -50.3% |
| 2024 | +8.2% | -57.2% |
| 2025 | +15.2% | +10.6% |
| 2026 | +4.9% | -38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVA and RDZN good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between INVA and RDZN?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.20 over the last year and -0.16 over 5 years.
Is RDZN a good diversifier for INVA?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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-rdzn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/inva-vs-rdzn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INVA correlations · RDZN correlations
