CGNX vs IPGP: Correlation
Measured on weekly returns over the past three years, Cognex Corporation (CGNX) and IPG Photonics Corporation (IPGP) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGNX and IPGP?
On 3 years of weekly data the CGNX/IPGP correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.62 over 3. The 5-year figure is 0.53, and annualized covariance runs at 1365.3 %².
In CGNX's tracked universe of 16 assets, IPGP sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months CGNX outperformed by 50.8 percentage points (+43.2% for CGNX against -7.6% for IPGP).
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.
CGNX vs IPGP: side by side
| CGNX (Cognex Corporation) | IPGP (IPG Photonics Corporation) | |
|---|---|---|
| 1-year return | +43.2% | -7.6% |
| 5-year return | -27.4% | -55.1% |
| Volatility (ann.) | 45.5% | 48.0% |
| Beta vs S&P 500 | 1.27 | 1.24 |
| Max drawdown (3Y) | -55.7% | -55.1% |
| Market cap | $10.6B | $3.3B |
| P/E (trailing) | 59.4 | 113.6 |
| Dividend yield | 0.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGNX | IPGP |
|---|---|---|
| 2022 | -39.1% | -45.0% |
| 2023 | -10.8% | +14.7% |
| 2024 | -13.4% | -33.0% |
| 2025 | +1.2% | -1.5% |
| 2026 | +75.8% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGNX and IPGP good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CGNX and IPGP?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.65 over the last year and 0.53 over 5 years.
Is IPGP a good diversifier for CGNX?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cgnx-vs-ipgp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgnx-vs-ipgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGNX correlations · IPGP correlations
