CAT vs. INVA
CAT (Caterpillar Inc.) and INVA (Innoviva, Inc.) are both stocks. CAT operates in Farm & Heavy Construction Machinery (Industrials), while INVA operates in Biotechnology (Healthcare). Over the past 10 years, CAT returned 31.20%/yr vs 7.00%/yr for INVA. At a 0.28 correlation, their price movements are largely independent.
Performance
CAT vs. INVA - Performance Comparison
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Returns By Period
In the year-to-date period, CAT achieves a 60.51% return, which is significantly higher than INVA's 11.71% return. Over the past 10 years, CAT has outperformed INVA with an annualized return of 31.20%, while INVA has yielded a comparatively lower 7.00% annualized return.
CAT
- 1D
- 1.26%
- 1M
- 2.03%
- YTD
- 60.51%
- 6M
- 54.15%
- 1Y
- 161.94%
- 3Y*
- 59.74%
- 5Y*
- 33.67%
- 10Y*
- 31.20%
INVA
- 1D
- -0.84%
- 1M
- -2.45%
- YTD
- 11.71%
- 6M
- 6.33%
- 1Y
- 3.48%
- 3Y*
- 18.85%
- 5Y*
- 12.47%
- 10Y*
- 7.00%
CAT vs. INVA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 60.51% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -17.56% | 75.03% |
INVA Innoviva, Inc. | 11.71% | 15.22% | 8.17% | 21.06% | -23.19% | 39.23% | -12.50% | -18.85% | 22.97% | 32.62% |
Correlation
The correlation between CAT and INVA is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2004 | 0.28 |
Over the past year, the correlation between CAT and INVA has dropped to 0.06 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
Fundamentals
CAT:
$426.51B
INVA:
$1.89B
CAT:
$20.07
INVA:
$5.94
CAT:
45.62
INVA:
3.76
CAT:
3.02
INVA:
0.02
CAT:
6.07
INVA:
4.47
CAT:
22.86
INVA:
1.31
CAT:
$70.76B
INVA:
$424.12M
CAT:
$23.01B
INVA:
$323.16M
CAT:
$15.31B
INVA:
$438.91M
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Return for Risk
CAT vs. INVA — Risk / Return Rank
CAT
INVA
CAT vs. INVA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Caterpillar Inc. (CAT) and Innoviva, Inc. (INVA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CAT | INVA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.64 | ||
| Sortino ratioReturn per unit of downside risk | +5.00 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.05 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 11.74 | 0.15 | +11.59 |
| Martin ratioReturn relative to average drawdown | 38.95 | 0.34 | +38.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CAT | INVA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.76 | 0.12 | +4.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.46 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.01 | 0.21 | +0.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.05 | +0.30 |
Drawdowns
CAT vs. INVA - Drawdown Comparison
The maximum CAT drawdown since its inception was -73.43%, smaller than the maximum INVA drawdown of -84.32%. Use the drawdown chart below to compare losses from any high point for CAT and INVA.
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Drawdown Indicators
| CAT | INVA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.43% | -84.32% | +10.89% |
Max Drawdown (1Y)Largest decline over 1 year | -13.88% | -23.53% | +9.65% |
Max Drawdown (3Y)Largest decline over 3 years | -34.05% | -23.53% | -10.52% |
Max Drawdown (5Y)Largest decline over 5 years | -34.05% | -47.01% | +12.96% |
Max Drawdown (10Y)Largest decline over 10 years | -43.36% | -59.57% | +16.21% |
Current DrawdownCurrent decline from peak | -2.64% | -30.17% | +27.53% |
Average DrawdownAverage peak-to-trough decline | -19.74% | -44.65% | +24.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 10.21% | -6.03% |
Volatility
CAT vs. INVA - Volatility Comparison
Caterpillar Inc. (CAT) has a higher volatility of 10.77% compared to Innoviva, Inc. (INVA) at 7.62%. This indicates that CAT's price experiences larger fluctuations and is considered to be riskier than INVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAT | INVA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.77% | 7.62% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 27.35% | 16.91% | +10.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.31% | 28.81% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.67% | 27.28% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.89% | 33.89% | -3.00% |
Dividends
CAT vs. INVA - Dividend Comparison
CAT's dividend yield for the trailing twelve months is around 0.66%, while INVA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.66% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
INVA Innoviva, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.12% |
Financials
CAT vs. INVA - Financials Comparison
This section allows you to compare key financial metrics between Caterpillar Inc. and Innoviva, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
CAT and INVA have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAT has higher volatility (10.77%) compared to INVA (7.62%). In terms of maximum drawdown, CAT dropped -73.43% vs INVA's -84.32%.
CAT currently has the higher Sharpe Ratio (4.76 vs 0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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