IDA vs PSIG: Correlation
How closely do IDACORP, Inc. (IDA) and PS International Group Ltd. (PSIG) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDA and PSIG?
Across a 3-year window, the weekly returns of IDA and PSIG correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -852.3 %².
PSIG is close to the least connected end of IDA's tracked universe, ranking #18 of 18. Their recent paths diverged sharply: over the last 12 months IDA outperformed by 65.5 percentage points (+11.6% for IDA against -53.9% for PSIG). Note the risk asymmetry: PSIG runs 8.8 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.
IDA vs PSIG: side by side
| IDA (IDACORP, Inc.) | PSIG (PS International Group Ltd.) | |
|---|---|---|
| 1-year return | +11.6% | -53.9% |
| 5-year return | +51.7% | n/a |
| Volatility (ann.) | 17.8% | 157.0% |
| Beta vs S&P 500 | 0.10 | 0.97 |
| Max drawdown (3Y) | -13.6% | -96.0% |
| Market cap | $8.0B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 2.53% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDA | PSIG |
|---|---|---|
| 2022 | -2.1% | – |
| 2023 | -6.0% | – |
| 2024 | +15.0% | – |
| 2025 | +19.2% | +8.3% |
| 2026 | +10.9% | -62.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDA and PSIG good diversifiers for each other?
Yes. With a correlation of -0.31, IDA and PSIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IDA and PSIG?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.34 over the last year and n/a over 5 years.
Is PSIG a good diversifier for IDA?
Yes. With a correlation of -0.31, IDA and PSIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/ida-vs-psig.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ida-vs-psig/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IDA correlations · PSIG correlations
