INVA vs. AMZN

Last updated Jun 9, 2026

INVA (Innoviva, Inc.) and AMZN (Amazon.com, Inc) are both stocks. INVA operates in Biotechnology (Healthcare), while AMZN operates in Internet Retail (Consumer Cyclical). Over the past 10 years, INVA returned 7.00%/yr vs 21.19%/yr for AMZN. At a 0.25 correlation, their price movements are largely independent.

Performance

INVA vs. AMZN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innoviva, Inc. (INVA) and Amazon.com, Inc (AMZN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVA achieves a 11.71% return, which is significantly higher than AMZN's 6.24% return. Over the past 10 years, INVA has underperformed AMZN with an annualized return of 7.00%, while AMZN has yielded a comparatively higher 21.19% annualized return.

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%

AMZN

• 1D: -0.33%
• 1M: -10.07%
• YTD: 6.24%
• 6M: 8.08%
• 1Y: 14.82%
• 3Y*: 25.71%
• 5Y*: 8.37%
• 10Y*: 21.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

INVA vs. AMZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INVA Innoviva, Inc.	11.71%	15.22%	8.17%	21.06%	-23.19%	39.23%	-12.50%	-18.85%	22.97%	32.62%
AMZN Amazon.com, Inc	6.24%	5.21%	44.39%	80.88%	-49.62%	2.38%	76.26%	23.03%	28.43%	55.96%

Correlation

The correlation between INVA and AMZN is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 6, 2004	0.25

Over the past year, the correlation between INVA and AMZN has dropped to 0.03 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Fundamentals

Market Cap INVA : $1.89B AMZN : $2.67T
EPS INVA : $5.94 AMZN : $8.37
PE Ratio INVA : 3.76 AMZN : 29.29
PEG Ratio INVA : 0.02 AMZN : 0.71
PS Ratio INVA : 4.47 AMZN : 3.58
PB Ratio INVA : 1.31 AMZN : 6.03
Total Revenue (TTM) INVA : $424.12M AMZN : $742.78B
Gross Profit (TTM) INVA : $323.16M AMZN : $348.59B
EBITDA (TTM) INVA : $438.91M AMZN : $152.71B

Return for Risk

INVA vs. AMZN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INVA

INVA Risk / Return Rank: 44
INVA Sharpe Ratio Rank: 47
INVA Sortino Ratio Rank: 42
INVA Omega Ratio Rank: 40
INVA Calmar Ratio Rank: 46
INVA Martin Ratio Rank: 46

AMZN

AMZN Risk / Return Rank: 56
AMZN Sharpe Ratio Rank: 59
AMZN Sortino Ratio Rank: 53
AMZN Omega Ratio Rank: 51
AMZN Calmar Ratio Rank: 58
AMZN Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INVA vs. AMZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innoviva, Inc. (INVA) and Amazon.com, Inc (AMZN). 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.

	INVA	AMZN	Difference
Sharpe ratio: Return per unit of total volatility	0.12	0.49	-0.37
Sortino ratio: Return per unit of downside risk	0.44	0.89	-0.45
Omega ratio: Gain probability vs. loss probability	1.05	1.11	-0.06
Calmar ratio: Return relative to maximum drawdown	0.15	0.68	-0.54
Martin ratio: Return relative to average drawdown	0.34	1.64	-1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INVA vs. AMZN - Sharpe Ratio Comparison

The current INVA Sharpe Ratio is 0.12, which is lower than the AMZN Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of INVA and AMZN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	INVA	AMZN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.49	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.24	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.65	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.56	-0.51

Drawdowns

INVA vs. AMZN - Drawdown Comparison

The maximum INVA drawdown since its inception was -84.32%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for INVA and AMZN.

Drawdown Indicators

	INVA	AMZN	Difference
Max Drawdown Largest peak-to-trough decline	-84.32%	-94.40%	+10.08%
Max Drawdown (1Y) Largest decline over 1 year	-23.53%	-21.74%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-23.53%	-30.88%	+7.35%
Max Drawdown (5Y) Largest decline over 5 years	-47.01%	-56.15%	+9.14%
Max Drawdown (10Y) Largest decline over 10 years	-59.57%	-56.15%	-3.42%
Current Drawdown Current decline from peak	-30.17%	-10.83%	-19.34%
Average Drawdown Average peak-to-trough decline	-44.65%	-28.12%	-16.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.21%	9.08%	+1.13%

Volatility

INVA vs. AMZN - Volatility Comparison

Innoviva, Inc. (INVA) and Amazon.com, Inc (AMZN) have volatilities of 7.62% and 7.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INVA	AMZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	7.80%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	16.91%	20.58%	-3.67%
Volatility (1Y) Calculated over the trailing 1-year period	28.81%	30.13%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.28%	35.53%	-8.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.89%	32.48%	+1.41%

Dividends

INVA vs. AMZN - Dividend Comparison

Neither INVA nor AMZN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZN Amazon.com, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Frequently Asked Questions

Can I hold both INVA and AMZN in my portfolio?

INVA and AMZN have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INVA or AMZN?

AMZN has higher volatility (7.80%) compared to INVA (7.62%). In terms of maximum drawdown, INVA dropped -84.32% vs AMZN's -94.40%.

Which has better risk-adjusted returns?

AMZN currently has the higher Sharpe Ratio (0.49 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.