IPW vs TCX: Correlation
iPower Inc. (IPW) and Tucows Inc. (TCX) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and TCX?
Across a 3-year window, the weekly returns of IPW and TCX correlate at 0.58, moderate. The past 12 months show a tighter link (0.82) than the 3-year average (0.58). Stretching to 5 years gives 0.48, with an annualized covariance of 16893.3 %².
Within IPW's tracked universe of 37 assets, TCX comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TCX outperformed by 51.3 percentage points (-98.6% for IPW against -47.3% for TCX). Risk is not evenly split, since IPW carries 5.6 times the volatility of the other side.
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 TCX: side by side
| IPW (iPower Inc.) | TCX (Tucows Inc.) | |
|---|---|---|
| 1-year return | -98.6% | -47.3% |
| 5-year return | -99.8% | -86.5% |
| Volatility (ann.) | 405.9% | 72.4% |
| Beta vs S&P 500 | 2.99 | 1.23 |
| Max drawdown (3Y) | -100.0% | -69.3% |
| 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 | TCX |
|---|---|---|
| 2022 | -83.2% | -59.5% |
| 2023 | +12.5% | -20.4% |
| 2024 | +85.1% | -36.5% |
| 2025 | -70.1% | +30.8% |
| 2026 | -96.8% | -55.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and TCX good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IPW and TCX?
As of 2026-08-27, the correlation of weekly returns between IPW and TCX is 0.58 over 3 years, 0.82 over 1 year and 0.48 over 5 years.
Is TCX a good diversifier for IPW?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ipw-vs-tcx.json
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Related comparisons
Hubs: IPW correlations · TCX correlations
