IPower Correlations

IPW Etf

USD 2.22 1.03 31.69%

The current 90-days correlation between iPower Inc and Yunji Inc is -0.05 (i.e., Good diversification). The correlation of IPower is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

IPower Correlation With Market

Excellent diversification

The correlation between iPower Inc and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iPower Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IPower Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iPower Inc. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with IPower Etf

0.81	MSI	Multistack International	Pair Corr
0.65	61F	ELEMENT FLEET MGMT Earnings Call Today	Pair Corr
0.69	CAI	Caris Life Sciences Earnings Call This Week	Pair Corr
0.79	IGC	India Globalization Earnings Call Today	Pair Corr
0.68	SIX2	Sixt SE	Pair Corr

Moving against IPower Etf

0.93	WLFC	Willis Lease Finance	Pair Corr
0.86	RXL	Rexel SA	Pair Corr
0.84	DXPE	DXP Enterprises	Pair Corr
0.84	WSO-B	Watsco Inc	Pair Corr
0.82	0HIT	Iberdrola Earnings Call Tomorrow	Pair Corr
0.81	AL	Air Lease	Pair Corr
0.8	FAST	Fastenal	Pair Corr
0.78	BXC	BlueLinx Holdings Earnings Call Today	Pair Corr
0.76	FZG1	BLUELINX HLDGS DL Earnings Call Today	Pair Corr
0.76	GIC	Global Industrial Earnings Call This Week	Pair Corr
0.73	AIT	Applied Industrial	Pair Corr
0.69	DSGR	Distribution Solutions	Pair Corr
0.68	SIX3	Sixt SE	Pair Corr
0.68	FERG	Ferguson Plc	Pair Corr
0.61	CNM	Core Main	Pair Corr
0.58	AER	AerCap Holdings NV	Pair Corr
0.57	DNOW	Now Inc	Pair Corr
0.53	21W	Redde Northgate PLC	Pair Corr
0.49	THEP	Thermador Groupe Earnings Call This Week	Pair Corr
0.38	VSTS	Vestis Downward Rally	Pair Corr
0.32	4LX	GENERAL DE ALQUI	Pair Corr
0.94	FTAI	FTAI Aviation	Pair Corr
0.93	FTT	Finning International	Pair Corr
0.92	AZ2	Andritz AG	Pair Corr
0.89	WC3	Watsco Inc	Pair Corr
0.88	WSO	Watsco Inc	Pair Corr
0.85	RUS	Russel Metals	Pair Corr
0.83	GATX	GATX	Pair Corr
0.82	WCC	WESCO International	Pair Corr
0.8	GWW	WW Grainger	Pair Corr
0.79	GWW	WW Grainger	Pair Corr
0.78	FAS	Fastenal	Pair Corr
0.78	WJX	Wajax Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.24	-0.29	0.37	0.12	-0.39	-0.04	0.35	0.3	0.32	META
MSFT	-0.24		0.83	-0.59	-0.8	0.77	0.89	0.15	-0.88	-0.93	MSFT
UBER	-0.29	0.83		-0.54	-0.69	0.83	0.68	0.0	-0.8	-0.81	UBER
F	0.37	-0.59	-0.54		0.25	-0.5	-0.36	0.23	0.74	0.65	F
T	0.12	-0.8	-0.69	0.25		-0.58	-0.82	-0.2	0.63	0.7	T
A	-0.39	0.77	0.83	-0.5	-0.58		0.61	0.04	-0.7	-0.82	A
CRM	-0.04	0.89	0.68	-0.36	-0.82	0.61		0.46	-0.72	-0.86	CRM
JPM	0.35	0.15	0.0	0.23	-0.2	0.04	0.46		0.12	-0.15	JPM
MRK	0.3	-0.88	-0.8	0.74	0.63	-0.7	-0.72	0.12		0.89	MRK
XOM	0.32	-0.93	-0.81	0.65	0.7	-0.82	-0.86	-0.15	0.89		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CRM	+ 0.89	MSFT
XOM	+ 0.89	MRK
UBER	+ 0.83	MSFT
A	+ 0.83	UBER
A	+ 0.77	MSFT
MRK	+ 0.74	F

High negative correlations

XOM	- 0.93	MSFT
MRK	- 0.88	MSFT
XOM	- 0.86	CRM
XOM	- 0.82	A
CRM	- 0.82	T
XOM	- 0.81	UBER

IPower Constituents Risk-Adjusted Indicators

There is a big difference between IPower Etf performing well and IPower ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IPower's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.52	0.05	0.02	0.12	1.51	(1.78)	3.43	(2.81)	13.69
MSFT	1.34	(0.43)	0.00	(0.88)	0.00	0.00	1.90	(2.87)	13.28
UBER	1.61	(0.43)	0.00	(0.57)	0.00	0.00	2.46	(4.25)	11.09
F	1.23	0.05	0.03	0.12	1.22	(1.46)	3.34	(2.30)	7.16
T	1.02	0.20	0.11	(1.79)	0.92	(1.18)	3.87	(1.76)	7.44
A	1.26	(0.29)	0.00	(0.20)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.71	(0.48)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.24	(0.10)	(0.04)	0.00	1.80	(1.29)	2.34	(3.11)	7.38
MRK	1.28	0.41	0.28	0.75	0.98	(1.50)	2.93	(1.98)	8.74
XOM	1.30	0.38	0.22	3.43	1.12	(1.49)	2.90	(2.44)	6.83

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