INNV vs. CNC
INNV (InnovAge Holding Corp.) and CNC (Centene Corporation) are both stocks. Both are in the Healthcare sector — INNV in Medical Care Facilities, CNC in Healthcare Plans. Over the past 5 years, INNV returned -16.14%/yr vs -2.72%/yr for CNC. At a 0.15 correlation, their price movements are largely independent.
Performance
INNV vs. CNC - Performance Comparison
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Returns By Period
In the year-to-date period, INNV achieves a 77.46% return, which is significantly higher than CNC's 54.75% return.
INNV
- 1D
- 2.68%
- 1M
- 27.92%
- YTD
- 77.46%
- 6M
- 62.15%
- 1Y
- 136.76%
- 3Y*
- 7.61%
- 5Y*
- -16.14%
- 10Y*
- —
CNC
- 1D
- 4.36%
- 1M
- 7.68%
- YTD
- 54.75%
- 6M
- 59.40%
- 1Y
- 17.06%
- 3Y*
- -1.35%
- 5Y*
- -2.72%
- 10Y*
- 6.29%
INNV vs. CNC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
INNV InnovAge Holding Corp. | 77.46% | 32.06% | -34.50% | -16.43% | 43.60% | -79.17% |
CNC Centene Corporation | 54.75% | -32.07% | -18.37% | -9.51% | -0.47% | 40.14% |
Correlation
The correlation between INNV and CNC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | 0.15 |
Fundamentals
INNV:
$1.25B
CNC:
$31.56B
INNV:
-$0.16
CNC:
-$13.07
INNV:
1.32
CNC:
0.16
INNV:
5.37
CNC:
1.47
INNV:
$945.90M
CNC:
$198.10B
INNV:
$140.05M
CNC:
$29.57B
INNV:
$5.26M
CNC:
-$5.11B
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Return for Risk
INNV vs. CNC — Risk / Return Rank
INNV
CNC
INNV vs. CNC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for InnovAge Holding Corp. (INNV) and Centene Corporation (CNC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| INNV | CNC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 0.31 | +3.83 |
| Martin ratioReturn relative to average drawdown | 8.13 | 0.51 | +7.62 |
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Drawdowns
INNV vs. CNC - Drawdown Comparison
The maximum INNV drawdown since its inception was -89.92%, which is greater than CNC's maximum drawdown of -74.07%. Use the drawdown chart below to compare losses from any high point for INNV and CNC.
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Drawdown Indicators
| INNV | CNC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.92% | -74.07% | -15.85% |
Max Drawdown (1Y)Largest decline over 1 year | -33.21% | -55.50% | +22.29% |
Max Drawdown (3Y)Largest decline over 3 years | -65.42% | -68.65% | +3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -88.24% | -74.07% | -14.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.07% | — |
Current DrawdownCurrent decline from peak | -64.63% | -34.50% | -30.13% |
Average DrawdownAverage peak-to-trough decline | -72.30% | -22.16% | -50.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.89% | 33.85% | -16.96% |
Volatility
INNV vs. CNC - Volatility Comparison
InnovAge Holding Corp. (INNV) has a higher volatility of 14.79% compared to Centene Corporation (CNC) at 12.64%. This indicates that INNV's price experiences larger fluctuations and is considered to be riskier than CNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INNV | CNC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.79% | 12.64% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 50.67% | 36.76% | +13.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.83% | 64.98% | +18.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.66% | 39.56% | +35.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.21% | 38.58% | +34.63% |
Dividends
INNV vs. CNC - Dividend Comparison
Neither INNV nor CNC has paid dividends to shareholders.
Financials
INNV vs. CNC - Financials Comparison
This section allows you to compare key financial metrics between InnovAge Holding Corp. and Centene Corporation. 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
INNV vs. CNC - Profitability Comparison
INNV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, InnovAge Holding Corp. reported a gross profit of 0.00 and revenue of 251.94M. Therefore, the gross margin over that period was 0.0%.
CNC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported a gross profit of 10.94B and revenue of 49.94B. Therefore, the gross margin over that period was 21.9%.
INNV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, InnovAge Holding Corp. reported an operating income of 0.00 and revenue of 251.94M, resulting in an operating margin of 0.0%.
CNC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported an operating income of 1.86B and revenue of 49.94B, resulting in an operating margin of 3.7%.
INNV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, InnovAge Holding Corp. reported a net income of -29.46M and revenue of 251.94M, resulting in a net margin of -11.7%.
CNC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Centene Corporation reported a net income of 1.54B and revenue of 49.94B, resulting in a net margin of 3.1%.
Frequently Asked Questions
INNV and CNC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INNV has higher volatility (14.79%) compared to CNC (12.64%). In terms of maximum drawdown, INNV dropped -89.92% vs CNC's -74.07%.
INNV currently has the higher Sharpe Ratio (1.64 vs 0.26), 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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