ASIX vs IPI: Correlation
AdvanSix Inc. (ASIX) and Intrepid Potash, Inc (IPI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASIX and IPI?
Over the past 3 years, ASIX and IPI moved with a correlation of 0.50, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.50 over 3. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 1086.8 %².
Within ASIX's tracked universe of 11 assets, IPI comes in at #5 by 3-year correlation. The last year tells two different stories: IPI led by 41.8 percentage points, -18.5% for ASIX against +23.3% for IPI.
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.
ASIX vs IPI: side by side
| ASIX (AdvanSix Inc.) | IPI (Intrepid Potash, Inc) | |
|---|---|---|
| 1-year return | -18.5% | +23.3% |
| 5-year return | -49.2% | +20.2% |
| Volatility (ann.) | 45.7% | 48.0% |
| Beta vs S&P 500 | 0.50 | 0.56 |
| Max drawdown (3Y) | -55.2% | -38.5% |
| Market cap | $0.4B | $0.5B |
| P/E (trailing) | – | 31.7 |
| Dividend yield | 3.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASIX | IPI |
|---|---|---|
| 2022 | -18.5% | -32.4% |
| 2023 | -19.7% | -17.2% |
| 2024 | -2.7% | -8.2% |
| 2025 | -37.3% | +26.5% |
| 2026 | -3.0% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASIX and IPI good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASIX and IPI?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.46 over 5 years.
Is IPI a good diversifier for ASIX?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/asix-vs-ipi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asix-vs-ipi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASIX correlations · IPI correlations
