INVA vs SBSI: Correlation
Innoviva, Inc. (INVA) and Southside Bancshares, Inc. (SBSI) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVA and SBSI?
Over the past 3 years, INVA and SBSI moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 271.7 %².
Among the 13 assets we track against INVA, SBSI ranks #5 by 3-year correlation. Neither side won the trailing year by much: +5.6% against +6.4%.
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 SBSI: side by side
| INVA (Innoviva, Inc.) | SBSI (Southside Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +6.4% |
| 5-year return | +36.6% | +7.0% |
| Volatility (ann.) | 25.4% | 24.6% |
| Beta vs S&P 500 | 0.21 | 0.59 |
| Max drawdown (3Y) | -23.5% | -27.3% |
| Market cap | $1.5B | $1.0B |
| P/E (trailing) | 4.9 | 12.6 |
| Dividend yield | 0.00% | 4.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVA | SBSI |
|---|---|---|
| 2022 | -23.2% | -10.8% |
| 2023 | +21.1% | -8.9% |
| 2024 | +8.2% | +6.3% |
| 2025 | +15.2% | +0.5% |
| 2026 | +4.9% | +8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVA and SBSI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INVA and SBSI?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.38 over the last year and 0.32 over 5 years.
Is SBSI a good diversifier for INVA?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: INVA correlations · SBSI correlations
