AGCO vs IPW: Correlation
How closely do AGCO Corporation (AGCO) and iPower Inc. (IPW) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGCO and IPW?
Over the past 3 years, AGCO and IPW moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.25 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -3339.5 %².
Among the 15 assets we track against AGCO, IPW sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with AGCO ahead by 97.0 points (-1.6% versus -98.6%). Risk is not evenly split, since IPW carries 12.5 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AGCO vs IPW: side by side
| AGCO (AGCO Corporation) | IPW (iPower Inc.) | |
|---|---|---|
| 1-year return | -1.6% | -98.6% |
| 5-year return | -7.9% | -99.8% |
| Volatility (ann.) | 32.5% | 405.9% |
| Beta vs S&P 500 | 0.80 | 2.99 |
| Max drawdown (3Y) | -40.5% | -100.0% |
| Market cap | $7.8B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGCO | IPW |
|---|---|---|
| 2022 | +25.0% | -83.2% |
| 2023 | -7.9% | +12.5% |
| 2024 | -20.3% | +85.1% |
| 2025 | +12.9% | -70.1% |
| 2026 | +7.1% | -96.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGCO and IPW good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGCO and IPW?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.50 over the last year and -0.15 over 5 years.
Is IPW a good diversifier for AGCO?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGCO correlations · IPW correlations
