IPW vs MNST: Correlation
Measured on weekly returns over the past three years, iPower Inc. (IPW) and Monster Beverage (MNST) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and MNST?
Over the past 3 years, IPW and MNST moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.44 over 1 year against -0.36 over 3. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -9885.4 %².
Among the 37 assets we track against IPW, MNST sits near the bottom by co-movement, at rank #35. The last year tells two different stories: MNST led by 74.3 percentage points, -98.6% for IPW against -24.3% for MNST. Note the risk asymmetry: IPW runs 5.9 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.
IPW vs MNST: side by side
| IPW (iPower Inc.) | MNST (Monster Beverage) | |
|---|---|---|
| 1-year return | -98.6% | -24.3% |
| 5-year return | -99.8% | -4.5% |
| Volatility (ann.) | 405.9% | 68.6% |
| Beta vs S&P 500 | 2.99 | 0.80 |
| Max drawdown (3Y) | -100.0% | -54.5% |
| Market cap | – | $91.5B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | IPW | MNST |
|---|---|---|
| 2022 | -83.2% | +5.7% |
| 2023 | +12.5% | +13.5% |
| 2024 | +85.1% | -8.8% |
| 2025 | -70.1% | +45.9% |
| 2026 | -96.8% | -39.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and MNST good diversifiers for each other?
Yes. With a correlation of -0.36, IPW and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IPW and MNST?
The IPW/MNST correlation stands at -0.36 on a 3-year window (1 year: -0.44, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is MNST a good diversifier for IPW?
Yes. With a correlation of -0.36, IPW and MNST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 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-mnst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipw-vs-mnst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IPW correlations · MNST correlations
