CTVA vs IPI: Correlation
How closely do Corteva (CTVA) and Intrepid Potash, Inc (IPI) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTVA and IPI?
Over the past 3 years, CTVA and IPI moved with a correlation of 0.42, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.42). Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 539.1 %².
Among the 34 assets we track against CTVA, IPI ranks #12 by 3-year correlation. Over the last 12 months IPI came out ahead by 12.4 percentage points (+10.9% against +23.3%). Note the risk asymmetry: IPI runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CTVA vs IPI: side by side
| CTVA (Corteva) | IPI (Intrepid Potash, Inc) | |
|---|---|---|
| 1-year return | +10.9% | +23.3% |
| 5-year return | +98.2% | +20.2% |
| Volatility (ann.) | 26.8% | 48.0% |
| Beta vs S&P 500 | 0.43 | 0.56 |
| Max drawdown (3Y) | -20.7% | -38.5% |
| Market cap | $55.0B | $0.5B |
| P/E (trailing) | 50.2 | 31.7 |
| Dividend yield | 0.87% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | CTVA | IPI |
|---|---|---|
| 2022 | +25.6% | -32.4% |
| 2023 | -17.5% | -17.2% |
| 2024 | +20.2% | -8.2% |
| 2025 | +18.9% | +26.5% |
| 2026 | +23.5% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTVA and IPI good diversifiers for each other?
Reasonably. At 0.42, CTVA and IPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CTVA and IPI?
The CTVA/IPI correlation stands at 0.42 on a 3-year window (1 year: 0.31, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is IPI a good diversifier for CTVA?
Reasonably. At 0.42, CTVA and IPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/ctva-vs-ipi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctva-vs-ipi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTVA correlations · IPI correlations
