IPW vs MKTX: Correlation
iPower Inc. (IPW) and MarketAxess Holdings, Inc. (MKTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and MKTX?
On 3 years of weekly data the IPW/MKTX correlation comes out at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.79) runs above the 3-year figure (0.53). The 5-year figure is 0.41, and annualized covariance runs at 8094.5 %².
Among the 37 assets we track against IPW, MKTX ranks #9 by 3-year correlation. The last year tells two different stories: MKTX led by 86.9 percentage points, -98.6% for IPW against -11.7% for MKTX. One caveat on sizing: IPW is 10.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MKTX: side by side
| IPW (iPower Inc.) | MKTX (MarketAxess Holdings, Inc.) | |
|---|---|---|
| 1-year return | -98.6% | -11.7% |
| 5-year return | -99.8% | -63.7% |
| Volatility (ann.) | 405.9% | 37.8% |
| Beta vs S&P 500 | 2.99 | 0.21 |
| Max drawdown (3Y) | -100.0% | -61.8% |
| Market cap | – | $5.7B |
| P/E (trailing) | – | 19.2 |
| Dividend yield | 0.00% | 1.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPW | MKTX |
|---|---|---|
| 2022 | -83.2% | -31.5% |
| 2023 | +12.5% | +6.1% |
| 2024 | +85.1% | -21.8% |
| 2025 | -70.1% | -18.5% |
| 2026 | -96.8% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and MKTX good diversifiers for each other?
Only partially. A correlation of 0.53 means IPW and MKTX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IPW and MKTX?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.79 over the last year and 0.41 over 5 years.
Is MKTX a good diversifier for IPW?
Only partially. A correlation of 0.53 means IPW and MKTX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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-mktx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ipw-vs-mktx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IPW correlations · MKTX correlations
