IPW vs LII: Correlation
Measured on weekly returns over the past three years, iPower Inc. (IPW) and Lennox International (LII) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and LII?
Across a 3-year window, the weekly returns of IPW and LII correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.60) than the 3-year average (-0.34). Stretching to 5 years gives -0.23, with an annualized covariance of -4391.7 %².
Among the 37 assets we track against IPW, LII sits near the bottom by co-movement, at rank #33. Their recent paths diverged sharply: over the last 12 months LII outperformed by 68.3 percentage points (-98.6% for IPW against -30.3% for LII). Note the risk asymmetry: IPW runs 12.7 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.
IPW vs LII: side by side
| IPW (iPower Inc.) | LII (Lennox International) | |
|---|---|---|
| 1-year return | -98.6% | -30.3% |
| 5-year return | -99.8% | +23.7% |
| Volatility (ann.) | 405.9% | 32.0% |
| Beta vs S&P 500 | 2.99 | 0.96 |
| Max drawdown (3Y) | -100.0% | -41.7% |
| Market cap | – | $13.5B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 1.34% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | IPW | LII |
|---|---|---|
| 2022 | -83.2% | -24.9% |
| 2023 | +12.5% | +89.5% |
| 2024 | +85.1% | +37.3% |
| 2025 | -70.1% | -19.5% |
| 2026 | -96.8% | -19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and LII good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between IPW and LII?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.60 over the last year and -0.23 over 5 years.
Is LII a good diversifier for IPW?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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.
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Related comparisons
Hubs: IPW correlations · LII correlations
