IPGP vs RELL: Correlation
Measured on weekly returns over the past three years, IPG Photonics Corporation (IPGP) and Richardson Electronics, Ltd. (RELL) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPGP and RELL?
Over the past 3 years, IPGP and RELL moved with a correlation of 0.43, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 863.6 %².
Among the 18 assets we track against IPGP, RELL ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RELL ahead by 93.2 points (-7.6% versus +85.6%).
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 RELL: side by side
| IPGP (IPG Photonics Corporation) | RELL (Richardson Electronics, Ltd.) | |
|---|---|---|
| 1-year return | -7.6% | +85.6% |
| 5-year return | -55.1% | +131.1% |
| Volatility (ann.) | 48.0% | 42.1% |
| Beta vs S&P 500 | 1.24 | 0.78 |
| Max drawdown (3Y) | -55.1% | -45.1% |
| Market cap | $3.3B | $0.3B |
| P/E (trailing) | 113.6 | 40.0 |
| Dividend yield | 0.00% | 1.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPGP | RELL |
|---|---|---|
| 2022 | -45.0% | +60.3% |
| 2023 | +14.7% | -36.4% |
| 2024 | -33.0% | +7.4% |
| 2025 | -1.5% | -20.6% |
| 2026 | +7.9% | +67.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPGP and RELL good diversifiers for each other?
Reasonably. At 0.43, IPGP and RELL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IPGP and RELL?
As of 2026-08-27, the correlation of weekly returns between IPGP and RELL is 0.43 over 3 years, 0.48 over 1 year and 0.36 over 5 years.
Is RELL a good diversifier for IPGP?
Reasonably. At 0.43, IPGP and RELL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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
$ curl https://www.pairbook.io/api/v1/pairs/ipgp-vs-rell.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipgp-vs-rell/)
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Related comparisons
Hubs: IPGP correlations · RELL correlations
