IPDN vs RAY: Correlation
How closely do Professional Diversity Network, Inc. (IPDN) and Raytech Holding Limited (RAY) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPDN and RAY?
On 3 years of weekly data the IPDN/RAY correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.01 versus -0.23 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -6781.5 %².
RAY is close to the least connected end of IPDN's tracked universe, ranking #12 of 13. The trailing year gives RAY the advantage: -93.5% versus -84.0%, a 9.5-point spread.
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.
IPDN vs RAY: side by side
| IPDN (Professional Diversity Network, Inc.) | RAY (Raytech Holding Limited) | |
|---|---|---|
| 1-year return | -93.5% | -84.0% |
| 5-year return | -99.5% | n/a |
| Volatility (ann.) | 192.4% | 146.1% |
| Beta vs S&P 500 | 1.06 | 0.37 |
| Max drawdown (3Y) | -99.6% | -97.7% |
| Market cap | – | – |
| P/E (trailing) | – | 3.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPDN | RAY |
|---|---|---|
| 2022 | +5.1% | – |
| 2023 | -1.5% | – |
| 2024 | -75.4% | – |
| 2025 | -77.2% | -90.5% |
| 2026 | -89.0% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPDN and RAY good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between IPDN and RAY?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with 0.01 over the last year and n/a over 5 years.
Is RAY a good diversifier for IPDN?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ipdn-vs-ray.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ipdn-vs-ray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IPDN correlations · RAY correlations
