INVX vs. FSLR
INVX (Innovex International, Inc) and FSLR (First Solar, Inc.) are both stocks. INVX operates in Oil & Gas Equipment & Services (Energy), while FSLR operates in Solar (Technology). Over the past 10 years, INVX returned -6.21%/yr vs 16.02%/yr for FSLR. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
INVX vs. FSLR - Performance Comparison
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Returns By Period
In the year-to-date period, INVX achieves a 28.40% return, which is significantly higher than FSLR's -19.22% return. Over the past 10 years, INVX has underperformed FSLR with an annualized return of -6.21%, while FSLR has yielded a comparatively higher 16.02% annualized return.
INVX
- 1D
- 5.72%
- 1M
- 15.65%
- 6M
- 13.00%
- YTD
- 28.40%
- 1Y
- 71.01%
- 3Y*
- 1.17%
- 5Y*
- -0.35%
- 10Y*
- -6.21%
- ALL TIME*
- 1.97%
FSLR
- 1D
- 2.44%
- 1M
- -9.07%
- 6M
- -6.43%
- YTD
- -19.22%
- 1Y
- 20.77%
- 3Y*
- 1.35%
- 5Y*
- 19.65%
- 10Y*
- 16.02%
- ALL TIME*
- 11.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $397.05M | $406.54M | $591.75M | |
| $9.73M | $8.69M | $11.48M |
INVX vs. FSLR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INVX Innovex International, Inc | 28.40% | 56.55% | -39.97% | -14.35% | 38.06% | -33.56% | -36.86% | 56.21% | -37.04% | -20.57% |
FSLR First Solar, Inc. | -19.22% | 48.22% | 2.30% | 15.01% | 71.86% | -11.89% | 76.77% | 31.81% | -37.12% | 110.41% |
Correlation
The correlation between INVX and FSLR is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2006 | 0.31 |
Over the past year, the correlation between INVX and FSLR has dropped to 0.01 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
INVX:
$1.96B
FSLR:
$22.68B
INVX:
$0.75
FSLR:
$16.22
INVX:
37.51
FSLR:
13.01
INVX:
0.11
FSLR:
0.31
INVX:
1.99
FSLR:
4.22
INVX:
1.88
FSLR:
2.20
INVX:
$976.87M
FSLR:
$5.38B
INVX:
$280.46M
FSLR:
$2.37B
INVX:
$157.28M
FSLR:
$2.28B
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Return for Risk
INVX vs. FSLR — Risk / Return Rank
INVX
FSLR
INVX vs. FSLR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovex International, Inc (INVX) and First Solar, Inc. (FSLR). 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.
| INVX | FSLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.12 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 0.56 | +2.42 |
| Martin ratioReturn relative to average drawdown | 7.70 | 1.07 | +6.63 |
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Drawdowns
INVX vs. FSLR - Drawdown Comparison
The maximum INVX drawdown since its inception was -89.50%, smaller than the maximum FSLR drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for INVX and FSLR.
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Drawdown Indicators
| INVX | FSLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.50% | -96.22% | +6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -23.96% | -37.40% | +13.44% |
Max Drawdown (3Y)Largest decline over 3 years | -58.93% | -59.97% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -68.88% | -59.97% | -8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -81.31% | -61.26% | -20.05% |
Current DrawdownCurrent decline from peak | -76.48% | -33.69% | -42.79% |
Average DrawdownAverage peak-to-trough decline | -45.55% | -62.97% | +17.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.25% | 19.41% | -10.16% |
Volatility
INVX vs. FSLR - Volatility Comparison
The current volatility for Innovex International, Inc (INVX) is 10.31%, while First Solar, Inc. (FSLR) has a volatility of 10.92%. This indicates that INVX experiences smaller price fluctuations and is considered to be less risky than FSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INVX | FSLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 10.92% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 30.58% | 38.39% | -7.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.54% | 53.94% | -12.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.17% | 54.12% | -7.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.67% | 50.83% | -4.16% |
Dividends
INVX vs. FSLR - Dividend Comparison
Neither INVX nor FSLR has paid dividends to shareholders.
Financials
INVX vs. FSLR - Financials Comparison
This section allows you to compare key financial metrics between Innovex International, Inc and First Solar, 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
INVX vs. FSLR - Profitability Comparison
INVX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Innovex International, Inc reported a gross profit of 84.51M and revenue of 239.03M. Therefore, the gross margin over that period was 35.4%.
FSLR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, First Solar, Inc. reported a gross profit of 605.00M and revenue of 1.06B. Therefore, the gross margin over that period was 57.3%.
INVX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Innovex International, Inc reported an operating income of -21.83M and revenue of 239.03M, resulting in an operating margin of -9.1%.
FSLR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, First Solar, Inc. reported an operating income of 450.39M and revenue of 1.06B, resulting in an operating margin of 42.6%.
INVX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Innovex International, Inc reported a net income of -16.67M and revenue of 239.03M, resulting in a net margin of -7.0%.
FSLR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, First Solar, Inc. reported a net income of 422.57M and revenue of 1.06B, resulting in a net margin of 40.0%.
Frequently Asked Questions
INVX and FSLR have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSLR has higher volatility (10.92%) compared to INVX (10.31%). In terms of maximum drawdown, INVX dropped -89.50% vs FSLR's -96.22%.
INVX currently has the higher Sharpe Ratio (1.73 vs 0.39), 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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