Ideal Power Correlations

IPWR Stock

USD 6.02 0.14 2.27%

The current 90-days correlation between Ideal Power and Espey Mfg Electronics is 0.01 (i.e., Significant 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

Modest diversification

The correlation between Ideal Power and DJI is 0.2 (i.e., Modest 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

0.76	ELPW	Elong Power Holding	Pair Corr
0.68	EPOW	Sunrise New Energy	Pair Corr
0.76	FLUX	Flux Power Holdings	Pair Corr
0.69	ENS	Enersys	Pair Corr
0.67	LSCG	Lighting Science	Pair Corr
0.67	TMTCU	TMT Acquisition Corp	Pair Corr

Moving against Ideal Stock

0.78	BE	Bloom Energy Corp	Pair Corr
0.7	STI	Solidion Technology Symbol Change	Pair Corr
0.68	FREY	FREYR Battery SA	Pair Corr
0.53	EAF	GrafTech International	Pair Corr
0.43	AYI	Acuity Brands	Pair Corr
0.37	ELVA	Electrovaya Common Shares	Pair Corr
0.37	NVT	nVent Electric PLC	Pair Corr
0.35	NVX	Novonix Ltd ADR	Pair Corr
0.71	NEOV	NeoVolta Common Stock Potential Growth	Pair Corr
0.7	MVSTW	Microvast Holdings	Pair Corr
0.66	MVST	Microvast Holdings	Pair Corr
0.55	VRT	Vertiv Holdings	Pair Corr
0.47	HAYW	Hayward Holdings	Pair Corr
0.46	PLPC	Preformed Line Products	Pair Corr
0.42	LTBR	Lightbridge Corp	Pair Corr
0.39	TMTCR	TMT Acquisition Corp	Pair Corr
0.39	ADSEW	ADS TEC ENERGY	Pair Corr
0.34	POWL	Powell Industries 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		0.61	0.74	0.48	-0.78	0.13	-0.01	0.67	ENR
KE	0.0	0.61		0.73	0.39	-0.67	0.01	-0.24	0.6	KE
NEOV	0.0	0.74	0.73		0.31	-0.89	0.1	-0.4	0.61	NEOV
ESP	0.0	0.48	0.39	0.31		-0.44	-0.33	0.57	0.89	ESP
FLUX	0.0	-0.78	-0.67	-0.89	-0.44		-0.2	0.26	-0.67	FLUX
OPTT	0.0	0.13	0.01	0.1	-0.33	-0.2		-0.21	-0.24	OPTT
EOSE	0.0	-0.01	-0.24	-0.4	0.57	0.26	-0.21		0.3	EOSE
AYI	0.0	0.67	0.6	0.61	0.89	-0.67	-0.24	0.3		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

AYI	+ 0.89	ESP
NEOV	+ 0.74	ENR
NEOV	+ 0.73	KE
AYI	+ 0.67	ENR
KE	+ 0.61	ENR
AYI	+ 0.61	NEOV

High negative correlations

FLUX	- 0.89	NEOV
FLUX	- 0.78	ENR
AYI	- 0.67	FLUX
FLUX	- 0.67	KE
FLUX	- 0.44	ESP
EOSE	- 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	1.00	0.24	0.11	1.05	1.23	(1.13)	2.18	(1.30)	9.97
KE	1.63	(0.07)	0.01	0.08	1.80	(1.82)	3.85	(3.18)	11.84
NEOV	4.60	1.02	0.19	1.07	4.86	(5.13)	11.11	(8.66)	21.90
ESP	2.25	0.44	0.18	0.66	1.92	(2.68)	4.93	(3.29)	26.01
FLUX	3.42	(1.19)	0.00	(0.53)	0.00	0.00	7.14	(7.98)	24.30
OPTT	5.37	1.26	0.12	0.82	4.66	(15.11)	12.50	(10.00)	55.58
EOSE	4.80	0.44	0.06	22.42	5.26	(5.91)	10.09	(7.87)	46.30
AYI	1.22	0.26	0.18	0.40	0.99	(1.38)	2.54	(2.02)	11.12

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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