BG vs IPW: Correlation
How closely do Bunge Global (BG) and iPower Inc. (IPW) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BG and IPW?
Across a 3-year window, the weekly returns of BG and IPW correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.24). Stretching to 5 years gives -0.17, with an annualized covariance of -3000.0 %².
Within BG's tracked universe of 37 assets, IPW comes in at #32 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BG outperformed by 133.8 percentage points (+35.2% for BG against -98.6% for IPW). Risk is not evenly split, since IPW carries 13.2 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.
BG vs IPW: side by side
| BG (Bunge Global) | IPW (iPower Inc.) | |
|---|---|---|
| 1-year return | +35.2% | -98.6% |
| 5-year return | +68.5% | -99.8% |
| Volatility (ann.) | 30.7% | 405.9% |
| Beta vs S&P 500 | 0.09 | 2.99 |
| Max drawdown (3Y) | -38.8% | -100.0% |
| Market cap | $21.4B | – |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 2.51% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | BG | IPW |
|---|---|---|
| 2022 | +9.3% | -83.2% |
| 2023 | +3.8% | +12.5% |
| 2024 | -20.7% | +85.1% |
| 2025 | +18.6% | -70.1% |
| 2026 | +27.5% | -96.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BG and IPW good diversifiers for each other?
Yes. With a correlation of -0.24, BG and IPW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BG and IPW?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.37 over the last year and -0.17 over 5 years.
Is IPW a good diversifier for BG?
Yes. With a correlation of -0.24, BG and IPW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/bg-vs-ipw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bg-vs-ipw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BG correlations · IPW correlations
