We prove a connected sum formula for involutive Heegaard Floer homology, and use it to study the involutive correction terms of connected sums. In particular, we give an example of a three-manifold with $underline{d}(Y) eq d(Y) eq overline{d}(Y)$. We also construct a homomorphism from the three-dimensional homology cobordism group to an algebraically defined Abelian group, consisting of certain complexes (equipped with a homotopy involution) modulo a notion of local equivalence.
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