GBFH vs IPW: Correlation
How closely do GBank Financial Holdings Inc. (GBFH) and iPower Inc. (IPW) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBFH and IPW?
On 3 years of weekly data the GBFH/IPW correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.64) runs below the 3-year figure (-0.42). The 5-year figure is n/a, and annualized covariance runs at -8560.8 %².
Among the 18 assets we track against GBFH, IPW sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months GBFH outperformed by 48.1 percentage points (-50.5% for GBFH against -98.6% for IPW). Note the risk asymmetry: IPW runs 8.2 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.
GBFH vs IPW: side by side
| GBFH (GBank Financial Holdings Inc.) | IPW (iPower Inc.) | |
|---|---|---|
| 1-year return | -50.5% | -98.6% |
| 5-year return | n/a | -99.8% |
| Volatility (ann.) | 49.3% | 405.9% |
| Beta vs S&P 500 | 1.11 | 2.99 |
| Max drawdown (3Y) | -53.8% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBFH | IPW |
|---|---|---|
| 2022 | – | -83.2% |
| 2023 | – | +12.5% |
| 2024 | – | +85.1% |
| 2025 | -21.2% | -70.1% |
| 2026 | -40.0% | -96.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBFH and IPW good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GBFH and IPW?
As of 2026-08-27, the correlation of weekly returns between GBFH and IPW is -0.42 over 3 years, -0.64 over 1 year and n/a over 5 years.
Is IPW a good diversifier for GBFH?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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: GBFH correlations · IPW correlations
