WM vs. INVA
WM (Waste Management, Inc.) and INVA (Innoviva, Inc.) are both stocks. WM operates in Waste Management (Industrials), while INVA operates in Biotechnology (Healthcare). Over the past 10 years, WM returned 15.36%/yr vs 7.34%/yr for INVA. At a 0.22 correlation, their price movements are largely independent.
Performance
WM vs. INVA - Performance Comparison
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Returns By Period
In the year-to-date period, WM achieves a 0.71% return, which is significantly lower than INVA's 13.76% return. Over the past 10 years, WM has outperformed INVA with an annualized return of 15.36%, while INVA has yielded a comparatively lower 7.34% annualized return.
WM
- 1D
- 0.30%
- 1M
- 1.83%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.98%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
INVA
- 1D
- 1.34%
- 1M
- -1.73%
- YTD
- 13.76%
- 6M
- 10.23%
- 1Y
- 6.26%
- 3Y*
- 19.34%
- 5Y*
- 12.53%
- 10Y*
- 7.34%
WM vs. INVA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
INVA Innoviva, Inc. | 13.76% | 15.22% | 8.17% | 21.06% | -23.19% | 39.23% | -12.50% | -18.85% | 22.97% | 32.62% |
Correlation
The correlation between WM 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 | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2004 | 0.22 |
The correlation between WM and INVA shifts across timeframes, from 0.06 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
Fundamentals
WM:
$88.75B
INVA:
$1.93B
WM:
$6.91
INVA:
$5.94
WM:
31.76
INVA:
3.83
WM:
2.60
INVA:
0.02
WM:
3.49
INVA:
4.55
WM:
8.86
INVA:
1.34
WM:
$25.41B
INVA:
$424.12M
WM:
$5.61B
INVA:
$323.16M
WM:
$6.96B
INVA:
$438.91M
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Return for Risk
WM vs. INVA — Risk / Return Rank
WM
INVA
WM vs. INVA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) 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.
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.
| WM | INVA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.07 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 0.27 | -0.63 |
| Martin ratioReturn relative to average drawdown | -0.79 | 0.61 | -1.41 |
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Drawdowns
WM vs. INVA - Drawdown Comparison
The maximum WM drawdown since its inception was -77.85%, smaller than the maximum INVA drawdown of -84.32%. Use the drawdown chart below to compare losses from any high point for WM and INVA.
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Drawdown Indicators
| WM | INVA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.85% | -84.32% | +6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -23.53% | +6.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -23.53% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -47.01% | +28.87% |
Max Drawdown (10Y)Largest decline over 10 years | -30.07% | -59.57% | +29.50% |
Current DrawdownCurrent decline from peak | -10.24% | -28.89% | +18.65% |
Average DrawdownAverage peak-to-trough decline | -17.69% | -44.70% | +27.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 10.24% | -2.66% |
Volatility
WM vs. INVA - Volatility Comparison
The current volatility for Waste Management, Inc. (WM) is 6.13%, while Innoviva, Inc. (INVA) has a volatility of 8.03%. This indicates that WM experiences smaller price fluctuations and is considered to be less risky 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
| WM | INVA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 8.03% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 17.17% | -3.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 28.96% | -9.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 27.30% | -8.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 33.87% | -14.33% |
Dividends
WM vs. INVA - Dividend Comparison
WM's dividend yield for the trailing twelve months is around 1.61%, while INVA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Financials
WM vs. INVA - Financials Comparison
This section allows you to compare key financial metrics between Waste Management, 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
WM 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.
INVA has higher volatility (8.03%) compared to WM (6.13%). In terms of maximum drawdown, WM dropped -77.85% vs INVA's -84.32%.
INVA currently has the higher Sharpe Ratio (0.22 vs -0.32), 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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