IPower Correlations

IPW Etf

USD 4.34 0.16 3.83%

The current 90-days correlation between iPower Inc and Creative Global Technology is 0.12 (i.e., Average 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

Very good diversification

The correlation between iPower Inc and DJI is -0.43 (i.e., Very good 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 metropolitan statistical area.

Moving together with IPower Etf

0.7

IGC

India Globalization

Pair Corr

Moving against IPower Etf

0.68	AER	AerCap Holdings NV Earnings Call This Week	Pair Corr
0.67	AL	Air Lease	Pair Corr
0.66	0HIT	Iberdrola	Pair Corr
0.57	WLFC	Willis Lease Finance	Pair Corr
0.4	AIT	Applied Industrial	Pair Corr
0.39	VSTS	Vestis	Pair Corr
0.33	FAST	Fastenal	Pair Corr
0.31	EHL	Emeco Holdings	Pair Corr
0.78	WCC	WESCO International	Pair Corr
0.77	WJX	Wajax	Pair Corr
0.66	XMTR	Xometry	Pair Corr
0.61	FTT	Finning International	Pair Corr
0.57	FTAI	FTAI Aviation	Pair Corr
0.55	GATX	GATX	Pair Corr
0.5	GWW	WW Grainger Earnings Call This Week	Pair Corr
0.5	QXO	QXO Inc	Pair Corr
0.5	600826	DLG Exhibitions Events	Pair Corr
0.48	RUS	Russel Metals	Pair Corr
0.42	HRI	Herc Holdings	Pair Corr
0.34	WSO	Watsco Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.12	0.19	0.01	-0.27	0.36	0.17	-0.09	0.03	META
MSFT	0.32		0.74	-0.47	0.28	0.38	0.44	-0.02	-0.8	-0.72	MSFT
UBER	0.12	0.74		-0.44	0.33	0.57	0.1	-0.2	-0.8	-0.53	UBER
F	0.19	-0.47	-0.44		-0.48	-0.24	-0.01	0.3	0.63	0.62	F
T	0.01	0.28	0.33	-0.48		0.44	-0.25	-0.27	-0.37	-0.38	T
A	-0.27	0.38	0.57	-0.24	0.44		-0.1	-0.13	-0.33	-0.54	A
CRM	0.36	0.44	0.1	-0.01	-0.25	-0.1		0.69	-0.15	-0.5	CRM
JPM	0.17	-0.02	-0.2	0.3	-0.27	-0.13	0.69		0.29	-0.13	JPM
MRK	-0.09	-0.8	-0.8	0.63	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.03	-0.72	-0.53	0.62	-0.38	-0.54	-0.5	-0.13	0.68		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	+ 0.74	MSFT
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
MRK	+ 0.63	F
XOM	+ 0.62	F
A	+ 0.57	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.54	A
XOM	- 0.53	UBER
XOM	- 0.5	CRM

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	1.60	0.02	0.00	(0.36)	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.28	0.03	0.00	0.26	1.46	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.17)	0.00	(0.37)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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