IPM vs SLGL: Correlation
How closely do Intelligent Protection Management Corp. (IPM) and Sol-Gel Technologies Ltd. (SLGL) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPM and SLGL?
On 3 years of weekly data the IPM/SLGL correlation comes out at 0.32, moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.32 over 3. The 5-year figure is 0.18, and annualized covariance runs at 2803.6 %².
By 3-year correlation, SLGL places #5 of the 10 assets tracked against IPM. The last year tells two different stories: SLGL led by 236.2 percentage points, -5.6% for IPM against +230.6% for SLGL. Note the risk asymmetry: SLGL runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IPM vs SLGL: side by side
| IPM (Intelligent Protection Management Corp.) | SLGL (Sol-Gel Technologies Ltd.) | |
|---|---|---|
| 1-year return | -5.6% | +230.6% |
| 5-year return | -49.5% | -25.1% |
| Volatility (ann.) | 67.6% | 130.8% |
| Beta vs S&P 500 | 0.96 | 1.42 |
| Max drawdown (3Y) | -72.7% | -86.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPM | SLGL |
|---|---|---|
| 2022 | -53.5% | -38.4% |
| 2023 | +77.3% | -75.8% |
| 2024 | -15.0% | -15.8% |
| 2025 | -13.6% | +353.1% |
| 2026 | +8.1% | +72.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPM and SLGL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IPM and SLGL?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.27 over the last year and 0.18 over 5 years.
Is SLGL a good diversifier for IPM?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: IPM correlations · SLGL correlations
