INVH vs PAPL: Correlation
How closely do Invitation Homes (INVH) and Pineapple Financial Inc. (PAPL) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and PAPL?
Over the past 3 years, INVH and PAPL moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.21 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -744.8 %².
Among the 28 assets we track against INVH, PAPL sits near the bottom by co-movement, at rank #25. The last year tells two different stories: INVH led by 68.8 percentage points, -1.9% for INVH against -70.7% for PAPL. Risk is not evenly split, since PAPL carries 8.5 times the volatility of the other side.
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.
INVH vs PAPL: side by side
| INVH (Invitation Homes) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | -1.9% | -70.7% |
| 5-year return | -16.8% | n/a |
| Volatility (ann.) | 21.2% | 181.2% |
| Beta vs S&P 500 | 0.50 | -0.73 |
| Max drawdown (3Y) | -30.9% | -99.4% |
| Market cap | $17.4B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | INVH | PAPL |
|---|---|---|
| 2022 | -33.0% | – |
| 2023 | +19.7% | – |
| 2024 | -3.1% | -74.7% |
| 2025 | -9.7% | -84.4% |
| 2026 | +7.6% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and PAPL 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 INVH and PAPL?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.18 over the last year and n/a over 5 years.
Is PAPL a good diversifier for INVH?
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/invh-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/invh-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INVH correlations · PAPL correlations
