IVR vs VFS: Correlation
Measured on weekly returns over the past three years, INVESCO MORTGAGE CAPITAL INC (IVR) and VinFast Auto Ltd. (VFS) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVR and VFS?
On 3 years of weekly data the IVR/VFS correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.45 over 3. The 5-year figure is 0.12, and annualized covariance runs at 1017.0 %².
Among the 14 assets we track against IVR, VFS ranks #7 by 3-year correlation. The last year tells two different stories: IVR led by 27.2 percentage points, +17.7% for IVR against -9.5% for VFS. One caveat on sizing: VFS is 2.5 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 VFS: side by side
| IVR (INVESCO MORTGAGE CAPITAL INC) | VFS (VinFast Auto Ltd.) | |
|---|---|---|
| 1-year return | +17.7% | -9.5% |
| 5-year return | -40.5% | -67.8% |
| Volatility (ann.) | 29.8% | 75.2% |
| Beta vs S&P 500 | 0.88 | 1.62 |
| Max drawdown (3Y) | -41.4% | -97.1% |
| Market cap | $0.8B | $7.4B |
| P/E (trailing) | 4.7 | – |
| Dividend yield | 19.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVR | VFS |
|---|---|---|
| 2022 | -44.6% | +3.2% |
| 2023 | -14.3% | -16.3% |
| 2024 | +9.0% | -51.9% |
| 2025 | +24.9% | -17.1% |
| 2026 | -0.5% | -5.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVR and VFS good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IVR and VFS?
The IVR/VFS correlation stands at 0.45 on a 3-year window (1 year: 0.39, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is VFS a good diversifier for IVR?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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 · VFS correlations
