BHC vs IPW: Correlation
How closely do Bausch Health Companies Inc. (BHC) and iPower Inc. (IPW) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHC and IPW?
Over the past 3 years, BHC and IPW moved with a correlation of 0.41, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.82 versus 0.41 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 11276.6 %².
IPW is one of the assets that tracks BHC most closely: it ranks #3 out of the 11 assets we track against BHC. Correlation aside, the last 12 months split them widely, with BHC ahead by 85.3 points (-13.3% versus -98.6%). Risk is not evenly split, since IPW carries 6.0 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.
BHC vs IPW: side by side
| BHC (Bausch Health Companies Inc.) | IPW (iPower Inc.) | |
|---|---|---|
| 1-year return | -13.3% | -98.6% |
| 5-year return | -78.4% | -99.8% |
| Volatility (ann.) | 67.6% | 405.9% |
| Beta vs S&P 500 | 0.94 | 2.99 |
| Max drawdown (3Y) | -59.3% | -100.0% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHC | IPW |
|---|---|---|
| 2022 | -77.3% | -83.2% |
| 2023 | +27.7% | +12.5% |
| 2024 | +0.5% | +85.1% |
| 2025 | -13.8% | -70.1% |
| 2026 | -9.4% | -96.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHC and IPW good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BHC and IPW?
As of 2026-08-27, the correlation of weekly returns between BHC and IPW is 0.41 over 3 years, 0.82 over 1 year and 0.30 over 5 years.
Is IPW a good diversifier for BHC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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.
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Related comparisons
Hubs: BHC correlations · IPW correlations
