INVZ vs PDYN: Correlation
How closely do Innoviz Technologies Ltd. (INVZ) and Palladyne AI Corp. (PDYN) 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 INVZ and PDYN?
Over the past 3 years, INVZ and PDYN moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 9680.8 %².
In INVZ's tracked universe of 10 assets, PDYN sits right near the top at #2. The last year tells two different stories: PDYN led by 57.1 percentage points, -79.0% for INVZ against -21.9% for PDYN. Note the risk asymmetry: PDYN runs 2.0 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.
INVZ vs PDYN: side by side
| INVZ (Innoviz Technologies Ltd.) | PDYN (Palladyne AI Corp.) | |
|---|---|---|
| 1-year return | -79.0% | -21.9% |
| 5-year return | -95.3% | -88.8% |
| Volatility (ann.) | 103.4% | 204.5% |
| Beta vs S&P 500 | 2.69 | 3.45 |
| Max drawdown (3Y) | -88.5% | -68.8% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVZ | PDYN |
|---|---|---|
| 2022 | -38.0% | -94.4% |
| 2023 | -35.6% | -78.6% |
| 2024 | -33.6% | +1601.8% |
| 2025 | -49.2% | -65.3% |
| 2026 | -58.4% | +43.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVZ and PDYN good diversifiers for each other?
Reasonably. At 0.46, INVZ and PDYN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INVZ and PDYN?
The INVZ/PDYN correlation stands at 0.46 on a 3-year window (1 year: 0.44, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is PDYN a good diversifier for INVZ?
Reasonably. At 0.46, INVZ and PDYN keep a meaningful degree of independence, and combining them has historically reduced portfolio 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/invz-vs-pdyn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/invz-vs-pdyn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INVZ correlations · PDYN correlations
