IPGP vs PHIO: Correlation
IPG Photonics Corporation (IPGP) and Phio Pharmaceuticals Corp. (PHIO) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPGP and PHIO?
On 3 years of weekly data the IPGP/PHIO correlation comes out at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.37 over 3 years. The 5-year figure is 0.22, and annualized covariance runs at 2048.8 %².
Among the 18 assets we track against IPGP, PHIO ranks #10 by 3-year correlation. The last year tells two different stories: IPGP led by 37.2 percentage points, -7.6% for IPGP against -44.8% for PHIO. Risk is not evenly split, since PHIO carries 2.4 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.
IPGP vs PHIO: side by side
| IPGP (IPG Photonics Corporation) | PHIO (Phio Pharmaceuticals Corp.) | |
|---|---|---|
| 1-year return | -7.6% | -44.8% |
| 5-year return | -55.1% | -99.5% |
| Volatility (ann.) | 48.0% | 113.9% |
| Beta vs S&P 500 | 1.24 | 1.91 |
| Max drawdown (3Y) | -55.1% | -96.3% |
| Market cap | $3.3B | – |
| P/E (trailing) | 113.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPGP | PHIO |
|---|---|---|
| 2022 | -45.0% | -62.8% |
| 2023 | +14.7% | -83.0% |
| 2024 | -33.0% | -73.7% |
| 2025 | -1.5% | -41.7% |
| 2026 | +7.9% | +6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPGP and PHIO good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IPGP and PHIO?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.58 over the last year and 0.22 over 5 years.
Is PHIO a good diversifier for IPGP?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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
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Related comparisons
Hubs: IPGP correlations · PHIO correlations
