IVR vs RIVN: Correlation
INVESCO MORTGAGE CAPITAL INC (IVR) and Rivian Automotive, Inc. (RIVN) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVR and RIVN?
On 3 years of weekly data the IVR/RIVN correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.40 over 3 years. The 5-year figure is 0.32, and annualized covariance runs at 799.7 %².
Within IVR's tracked universe of 14 assets, RIVN comes in at #9 by 3-year correlation. On 12-month performance RIVN holds a 9.4-point edge, +17.7% against +27.1%. One caveat on sizing: RIVN is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IVR vs RIVN: side by side
| IVR (INVESCO MORTGAGE CAPITAL INC) | RIVN (Rivian Automotive, Inc.) | |
|---|---|---|
| 1-year return | +17.7% | +27.1% |
| 5-year return | -40.5% | -83.3% |
| Volatility (ann.) | 29.8% | 66.9% |
| Beta vs S&P 500 | 0.88 | 1.19 |
| Max drawdown (3Y) | -41.4% | -65.5% |
| Market cap | $0.8B | $24.3B |
| P/E (trailing) | 4.7 | – |
| Dividend yield | 19.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVR | RIVN |
|---|---|---|
| 2022 | -44.6% | -82.2% |
| 2023 | -14.3% | +27.3% |
| 2024 | +9.0% | -43.3% |
| 2025 | +24.9% | +48.2% |
| 2026 | -0.5% | -14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVR and RIVN good diversifiers for each other?
Reasonably. At 0.40, IVR and RIVN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IVR and RIVN?
The IVR/RIVN correlation stands at 0.40 on a 3-year window (1 year: 0.20, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is RIVN a good diversifier for IVR?
Reasonably. At 0.40, IVR and RIVN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
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Related comparisons
Hubs: IVR correlations · RIVN correlations
