ALVO vs IPW: Correlation
Alvotech (ALVO) and iPower Inc. (IPW) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALVO and IPW?
On 3 years of weekly data the ALVO/IPW correlation comes out at 0.35, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.35 over 3 years. The 5-year figure is 0.27, and annualized covariance runs at 7458.2 %².
Among the 12 assets we track against ALVO, IPW ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALVO outperformed by 59.4 percentage points (-39.2% for ALVO against -98.6% for IPW). Risk is not evenly split, since IPW carries 7.7 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.
ALVO vs IPW: side by side
| ALVO (Alvotech) | IPW (iPower Inc.) | |
|---|---|---|
| 1-year return | -39.2% | -98.6% |
| 5-year return | -56.4% | -99.8% |
| Volatility (ann.) | 52.8% | 405.9% |
| Beta vs S&P 500 | 0.81 | 2.99 |
| Max drawdown (3Y) | -82.6% | -100.0% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALVO | IPW |
|---|---|---|
| 2022 | – | -83.2% |
| 2023 | +14.8% | +12.5% |
| 2024 | +15.2% | +85.1% |
| 2025 | -61.2% | -70.1% |
| 2026 | -4.9% | -96.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALVO and IPW good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALVO and IPW?
The ALVO/IPW correlation stands at 0.35 on a 3-year window (1 year: 0.54, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is IPW a good diversifier for ALVO?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alvo-vs-ipw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alvo-vs-ipw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALVO correlations · IPW correlations
