IPW vs MVIS: Correlation
iPower Inc. (IPW) and MicroVision, Inc. (MVIS) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and MVIS?
Over the past 3 years, IPW and MVIS moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. The past 12 months show a tighter link (0.98) than the 3-year average (0.83). Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 295737.2 %².
Few assets follow IPW as closely as MVIS, which ranks #1 of 37 tracked partners. The last year tells two different stories: MVIS led by 166.5 percentage points, -98.6% for IPW against +67.9% for MVIS. Note the risk asymmetry: MVIS runs 2.2 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 MVIS: side by side
| IPW (iPower Inc.) | MVIS (MicroVision, Inc.) | |
|---|---|---|
| 1-year return | -98.6% | +67.9% |
| 5-year return | -99.8% | -87.1% |
| Volatility (ann.) | 405.9% | 882.4% |
| Beta vs S&P 500 | 2.99 | 3.46 |
| Max drawdown (3Y) | -100.0% | -95.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPW | MVIS |
|---|---|---|
| 2022 | -83.2% | -53.1% |
| 2023 | +12.5% | +13.2% |
| 2024 | +85.1% | -50.8% |
| 2025 | -70.1% | -36.6% |
| 2026 | -96.8% | +126.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and MVIS good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between IPW and MVIS?
As of 2026-08-27, the correlation of weekly returns between IPW and MVIS is 0.83 over 3 years, 0.98 over 1 year and 0.80 over 5 years.
Is MVIS a good diversifier for IPW?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 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-mvis.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ipw-vs-mvis/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IPW correlations · MVIS correlations
