DWSN vs IPI: Correlation
Measured on weekly returns over the past three years, Dawson Geophysical Company (DWSN) and Intrepid Potash, Inc (IPI) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DWSN and IPI?
On 3 years of weekly data the DWSN/IPI correlation comes out at 0.32, moderate. The link has tightened recently: the 1-year correlation (0.57) runs above the 3-year figure (0.32). The 5-year figure is 0.12, and annualized covariance runs at 1313.4 %².
In DWSN's tracked universe of 17 assets, IPI sits right near the top at #3. Correlation aside, the last 12 months split them widely, with DWSN ahead by 70.2 points (+93.5% versus +23.3%). Risk is not evenly split, since DWSN carries 1.8 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.
DWSN vs IPI: side by side
| DWSN (Dawson Geophysical Company) | IPI (Intrepid Potash, Inc) | |
|---|---|---|
| 1-year return | +93.5% | +23.3% |
| 5-year return | +93.2% | +20.2% |
| Volatility (ann.) | 86.8% | 48.0% |
| Beta vs S&P 500 | -0.14 | 0.56 |
| Max drawdown (3Y) | -64.3% | -38.5% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | 27.1 | 31.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DWSN | IPI |
|---|---|---|
| 2022 | -15.5% | -32.4% |
| 2023 | -6.6% | -17.2% |
| 2024 | -14.2% | -8.2% |
| 2025 | +16.4% | +26.5% |
| 2026 | +108.3% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DWSN and IPI good diversifiers for each other?
Reasonably. At 0.32, DWSN and IPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DWSN and IPI?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.57 over the last year and 0.12 over 5 years.
Is IPI a good diversifier for DWSN?
Reasonably. At 0.32, DWSN and IPI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/dwsn-vs-ipi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dwsn-vs-ipi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DWSN correlations · IPI correlations
