IPW vs LIN: Correlation
Measured on weekly returns over the past three years, iPower Inc. (IPW) and Linde plc (LIN) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and LIN?
Across a 3-year window, the weekly returns of IPW and LIN correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.34) runs below the 3-year figure (-0.20). Stretching to 5 years gives -0.10, with an annualized covariance of -1305.6 %².
Within IPW's tracked universe of 37 assets, LIN comes in at #20 by 3-year correlation. The last year tells two different stories: LIN led by 100.5 percentage points, -98.6% for IPW against +1.9% for LIN. Note the risk asymmetry: IPW runs 24.6 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 LIN: side by side
| IPW (iPower Inc.) | LIN (Linde plc) | |
|---|---|---|
| 1-year return | -98.6% | +1.9% |
| 5-year return | -99.8% | +64.6% |
| Volatility (ann.) | 405.9% | 16.5% |
| Beta vs S&P 500 | 2.99 | 0.37 |
| Max drawdown (3Y) | -100.0% | -19.2% |
| Market cap | – | $223.7B |
| P/E (trailing) | – | 31.6 |
| Dividend yield | 0.00% | 1.26% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | IPW | LIN |
|---|---|---|
| 2022 | -83.2% | -4.4% |
| 2023 | +12.5% | +27.7% |
| 2024 | +85.1% | +3.2% |
| 2025 | -70.1% | +3.2% |
| 2026 | -96.8% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and LIN good diversifiers for each other?
Yes. With a correlation of -0.20, IPW and LIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IPW and LIN?
The IPW/LIN correlation stands at -0.20 on a 3-year window (1 year: -0.34, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is LIN a good diversifier for IPW?
Yes. With a correlation of -0.20, IPW and LIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/ipw-vs-lin.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipw-vs-lin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IPW correlations · LIN correlations
