IPower Correlations

IPW Etf

USD 7.78 0.00 0.00%

The current 90-days correlation between iPower Inc and Creative Global Technology is 0.09 (i.e., Significant 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

Average diversification

The correlation between iPower Inc and DJI is 0.15 (i.e., Average 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 main economic indicators.

Moving together with IPower Etf

0.64	DNOW	Now Inc	Pair Corr
0.67	DSGR	Distribution Solutions	Pair Corr
0.65	DXPE	DXP Enterprises	Pair Corr
0.74	WSO-B	Watsco Inc	Pair Corr
0.78	BXC	BlueLinx Holdings	Pair Corr
0.73	CAI	Caris Life Sciences	Pair Corr
0.75	GIC	Global Industrial	Pair Corr
0.72	IGC	India Globalization	Pair Corr
0.69	URI	United Rentals	Pair Corr

Moving against IPower Etf

0.76	AER	AerCap Holdings NV	Pair Corr
0.72	000632	Fujian Sanmu Group	Pair Corr
0.65	0HIT	Iberdrola	Pair Corr
0.62	AL	Air Lease	Pair Corr
0.62	MSI	Multistack International	Pair Corr
0.56	VSTS	Vestis	Pair Corr
0.77	WJX	Wajax	Pair Corr
0.76	WCC	WESCO International	Pair Corr
0.75	XMTR	Xometry	Pair Corr
0.64	AA4	Amedeo Air Four	Pair Corr
0.55	FTT	Finning International	Pair Corr
0.45	000408	Zangge Holding	Pair Corr
0.44	HRI	Herc Holdings	Pair Corr
0.44	600826	DLG Exhibitions Events	Pair Corr
0.32	000652	Tianjin Economic tec	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.45	-0.54	0.38	-0.39	0.24	-0.23	-0.42	-0.58	META
MSFT	0.67		0.85	-0.54	0.42	-0.07	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.45	0.85		-0.58	0.52	0.09	-0.25	-0.47	-0.85	-0.67	UBER
F	-0.54	-0.54	-0.58		-0.64	0.28	0.34	0.54	0.63	0.77	F
T	0.38	0.42	0.52	-0.64		0.03	-0.63	-0.47	-0.38	-0.58	T
A	-0.39	-0.07	0.09	0.28	0.03		-0.42	-0.34	0.02	0.04	A
CRM	0.24	-0.02	-0.25	0.34	-0.63	-0.42		0.49	0.2	0.3	CRM
JPM	-0.23	-0.42	-0.47	0.54	-0.47	-0.34	0.49		0.57	0.56	JPM
MRK	-0.42	-0.81	-0.85	0.63	-0.38	0.02	0.2	0.57		0.76	MRK
XOM	-0.58	-0.64	-0.67	0.77	-0.58	0.04	0.3	0.56	0.76		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

UBER	+ 0.85	MSFT
XOM	+ 0.77	F
XOM	+ 0.76	MRK
MSFT	+ 0.67	META
MRK	+ 0.63	F
MRK	+ 0.57	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.81	MSFT
XOM	- 0.67	UBER
T	- 0.64	F
XOM	- 0.64	MSFT
CRM	- 0.63	T

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	1.39	(0.22)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.30)	0.00	(0.23)	0.00	0.00	2.60	(3.82)	10.51
F	1.48	0.12	0.08	0.14	1.67	(1.63)	3.38	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

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