INGN vs UPST: Correlation
Measured on weekly returns over the past three years, Inogen, Inc (INGN) and Upstart Holdings, Inc. (UPST) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INGN and UPST?
On 3 years of weekly data the INGN/UPST correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 2619.3 %².
By 3-year correlation, UPST places #4 of the 13 assets tracked against INGN. Correlation aside, the last 12 months split them widely, with INGN ahead by 25.7 points (-30.5% versus -56.2%).
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.
INGN vs UPST: side by side
| INGN (Inogen, Inc) | UPST (Upstart Holdings, Inc.) | |
|---|---|---|
| 1-year return | -30.5% | -56.2% |
| 5-year return | -90.7% | -85.9% |
| Volatility (ann.) | 64.0% | 91.0% |
| Beta vs S&P 500 | 1.24 | 3.51 |
| Max drawdown (3Y) | -57.6% | -72.7% |
| Market cap | $0.1B | $3.0B |
| P/E (trailing) | – | 58.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INGN | UPST |
|---|---|---|
| 2022 | -42.0% | -91.3% |
| 2023 | -72.1% | +209.1% |
| 2024 | +67.0% | +50.7% |
| 2025 | -26.7% | -29.0% |
| 2026 | -18.0% | -30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INGN and UPST good diversifiers for each other?
Reasonably. At 0.45, INGN and UPST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between INGN and UPST?
As of 2026-08-27, the correlation of weekly returns between INGN and UPST is 0.45 over 3 years, 0.36 over 1 year and 0.34 over 5 years.
Is UPST a good diversifier for INGN?
Reasonably. At 0.45, INGN and UPST keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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
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Related comparisons
Hubs: INGN correlations · UPST correlations
