Ideal Power Correlations

IPWR Stock

USD 5.45 0.17 3.22%

The current 90-days correlation between Ideal Power and Espey Mfg Electronics is -0.04 (i.e., Good diversification). The correlation of Ideal Power 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.

Ideal Power Correlation With Market

Average diversification

The correlation between Ideal Power and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ideal Power and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Ideal Stock, please use our How to Invest in Ideal Power guide.

Moving together with Ideal Stock

0.65	ENVX	Enovix Corp	Pair Corr
0.66	EOSE	Eos Energy Enterprises Earnings Call This Week	Pair Corr
0.7	OPTT	Ocean Power Technologies	Pair Corr
0.62	SLDPW	Solid Power	Pair Corr
0.65	MVSTW	Microvast Holdings	Pair Corr
0.7	EOSEW	Eos Energy Enterprises	Pair Corr

Moving against Ideal Stock

0.41	OESX	Orion Energy Systems	Pair Corr
0.4	GTI	Graphjet Technology Symbol Change	Pair Corr
0.34	ENS	Enersys	Pair Corr
0.33	NXU	Nxu Inc	Pair Corr
0.49	CAPTW	Captivision Warrant	Pair Corr
0.46	APWC	Asia Pacific Wire	Pair Corr
0.32	RFIL	RF Industries	Pair Corr
0.31	PLPC	Preformed Line Products Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HOLI	ENR	KE	NEOV	ESP	FLUX	OPTT	EOSE	AYI
HOLI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HOLI
ENR	0.0		0.82	0.79	0.54	0.51	-0.48	-0.64	-0.01	ENR
KE	0.0	0.82		0.68	0.55	0.45	-0.34	-0.49	0.06	KE
NEOV	0.0	0.79	0.68		0.52	0.46	-0.32	-0.56	-0.4	NEOV
ESP	0.0	0.54	0.55	0.52		0.34	-0.2	-0.2	0.04	ESP
FLUX	0.0	0.51	0.45	0.46	0.34		-0.26	-0.42	0.22	FLUX
OPTT	0.0	-0.48	-0.34	-0.32	-0.2	-0.26		0.76	-0.05	OPTT
EOSE	0.0	-0.64	-0.49	-0.56	-0.2	-0.42	0.76		0.04	EOSE
AYI	0.0	-0.01	0.06	-0.4	0.04	0.22	-0.05	0.04		AYI
	HOLI	ENR	KE	NEOV	ESP	FLUX	OPTT	EOSE	AYI

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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

KE	+ 0.82	ENR
NEOV	+ 0.79	ENR
EOSE	+ 0.76	OPTT
NEOV	+ 0.68	KE
ESP	+ 0.55	KE
ESP	+ 0.54	ENR

High negative correlations

EOSE	- 0.64	ENR
EOSE	- 0.56	NEOV
EOSE	- 0.49	KE
OPTT	- 0.48	ENR
EOSE	- 0.42	FLUX
AYI	- 0.4	NEOV

Risk-Adjusted Indicators

There is a big difference between Ideal Stock performing well and Ideal Power Company 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 Ideal Power'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
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENR	1.12	(0.11)	0.00	(0.17)	0.00	0.00	2.09	(2.62)	12.36
KE	1.36	(0.05)	0.00	(0.08)	0.00	0.00	2.21	(3.28)	7.44
NEOV	4.48	(0.53)	0.00	(0.81)	0.00	0.00	6.77	(9.11)	29.85
ESP	1.82	(0.18)	0.00	(0.49)	0.00	0.00	3.76	(3.37)	15.86
FLUX	4.47	(0.47)	0.00	(0.42)	0.00	0.00	9.43	(10.98)	32.32
OPTT	12.84	3.84	0.29	(0.96)	10.79	(19.21)	40.00	(12.50)	117.25
EOSE	4.68	1.14	0.26	0.83	3.96	(5.81)	13.38	(6.31)	28.08
AYI	1.22	(0.08)	0.00	(0.07)	0.00	0.00	2.19	(2.67)	9.89

Ideal Power Corporate Executives

Elected by the shareholders, the Ideal Power's board of directors comprises two types of representatives: Ideal Power inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Ideal. The board's role is to monitor Ideal Power's management team and ensure that shareholders' interests are well served. Ideal Power's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Ideal Power's outside directors are responsible for providing unbiased perspectives on the board's policies.

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