IPI vs REX: Correlation
Intrepid Potash, Inc (IPI) and REX American Resources Corporation (REX) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPI and REX?
Over the past 3 years, IPI and REX moved with a correlation of 0.48, which is moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.48). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 924.3 %².
By 3-year correlation, REX places #6 of the 15 assets tracked against IPI. Over the last 12 months REX came out ahead by 11.4 percentage points (+23.3% against +34.7%).
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.
IPI vs REX: side by side
| IPI (Intrepid Potash, Inc) | REX (REX American Resources Corporation) | |
|---|---|---|
| 1-year return | +23.3% | +34.7% |
| 5-year return | +20.2% | +190.5% |
| Volatility (ann.) | 48.0% | 40.2% |
| Beta vs S&P 500 | 0.56 | 0.44 |
| Max drawdown (3Y) | -38.5% | -41.6% |
| Market cap | $0.5B | $1.3B |
| P/E (trailing) | 31.7 | 15.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPI | REX |
|---|---|---|
| 2022 | -32.4% | -0.4% |
| 2023 | -17.2% | +48.5% |
| 2024 | -8.2% | -11.9% |
| 2025 | +26.5% | +55.0% |
| 2026 | +35.9% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPI and REX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IPI and REX?
The IPI/REX correlation stands at 0.48 on a 3-year window (1 year: 0.64, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is REX a good diversifier for IPI?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/ipi-vs-rex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipi-vs-rex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IPI correlations · REX correlations
