INVX vs NOV: Correlation
Measured on weekly returns over the past three years, Innovex International, Inc. (INVX) and NOV Inc. (NOV) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVX and NOV?
Over the past 3 years, INVX and NOV moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 1069.0 %².
Few assets follow INVX as closely as NOV, which ranks #1 of 11 tracked partners. The last year tells two different stories: INVX led by 17.1 percentage points, +79.3% for INVX against +62.2% for NOV.
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.
INVX vs NOV: side by side
| INVX (Innovex International, Inc.) | NOV (NOV Inc.) | |
|---|---|---|
| 1-year return | +79.3% | +62.2% |
| 5-year return | +21.9% | +71.8% |
| Volatility (ann.) | 42.3% | 35.6% |
| Beta vs S&P 500 | 0.83 | 0.61 |
| Max drawdown (3Y) | -58.9% | -47.2% |
| Market cap | $2.1B | $7.4B |
| P/E (trailing) | 31.7 | 74.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVX | NOV |
|---|---|---|
| 2022 | +38.1% | +55.7% |
| 2023 | -14.4% | -1.8% |
| 2024 | -40.0% | -26.8% |
| 2025 | +56.5% | +11.3% |
| 2026 | +36.4% | +34.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVX and NOV good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between INVX and NOV?
The INVX/NOV correlation stands at 0.71 on a 3-year window (1 year: 0.65, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is NOV a good diversifier for INVX?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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/invx-vs-nov.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/invx-vs-nov/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INVX correlations · NOV correlations
