CTS vs IPGP: Correlation
CTS Corporation (CTS) and IPG Photonics Corporation (IPGP) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTS and IPGP?
Over the past 3 years, CTS and IPGP moved with a correlation of 0.56, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.56 over 3 years. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 888.5 %².
Within CTS's tracked universe of 26 assets, IPGP comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CTS outperformed by 43.4 percentage points (+35.8% for CTS 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.
CTS vs IPGP: side by side
| CTS (CTS Corporation) | IPGP (IPG Photonics Corporation) | |
|---|---|---|
| 1-year return | +35.8% | -7.6% |
| 5-year return | +63.4% | -55.1% |
| Volatility (ann.) | 33.0% | 48.0% |
| Beta vs S&P 500 | 1.40 | 1.24 |
| Max drawdown (3Y) | -40.6% | -55.1% |
| Market cap | $1.6B | $3.3B |
| P/E (trailing) | 23.8 | 113.6 |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTS | IPGP |
|---|---|---|
| 2022 | +7.8% | -45.0% |
| 2023 | +11.4% | +14.7% |
| 2024 | +20.9% | -33.0% |
| 2025 | -18.4% | -1.5% |
| 2026 | +34.7% | +7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTS and IPGP good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTS and IPGP?
As of 2026-08-27, the correlation of weekly returns between CTS and IPGP is 0.56 over 3 years, 0.46 over 1 year and 0.45 over 5 years.
Is IPGP a good diversifier for CTS?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/cts-vs-ipgp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cts-vs-ipgp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTS correlations · IPGP correlations
