AZO vs IPWR: Correlation
Measured on weekly returns over the past three years, AutoZone (AZO) and Ideal Power Inc. (IPWR) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and IPWR?
Across a 3-year window, the weekly returns of AZO and IPWR correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -392.9 %².
By 3-year correlation, IPWR places #22 of the 30 assets tracked against AZO. Correlation aside, the last 12 months split them widely, with IPWR ahead by 26.6 points (-30.3% versus -3.7%). One caveat on sizing: IPWR is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZO vs IPWR: side by side
| AZO (AutoZone) | IPWR (Ideal Power Inc.) | |
|---|---|---|
| 1-year return | -30.3% | -3.7% |
| 5-year return | +88.5% | -68.3% |
| Volatility (ann.) | 23.2% | 86.2% |
| Beta vs S&P 500 | 0.31 | 1.72 |
| Max drawdown (3Y) | -32.9% | -80.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | AZO | IPWR |
|---|---|---|
| 2022 | +17.6% | -11.3% |
| 2023 | +4.8% | -27.4% |
| 2024 | +23.8% | -2.8% |
| 2025 | +5.9% | -59.1% |
| 2026 | -13.5% | +60.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and IPWR good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AZO and IPWR?
The AZO/IPWR correlation stands at -0.20 on a 3-year window (1 year: -0.30, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is IPWR a good diversifier for AZO?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/azo-vs-ipwr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azo-vs-ipwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZO correlations · IPWR correlations
