IPW vs WU: Correlation
Measured on weekly returns over the past three years, iPower Inc. (IPW) and Western Union Company (The) (WU) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and WU?
Across a 3-year window, the weekly returns of IPW and WU correlate at -0.35, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.53) runs below the 3-year figure (-0.35). Stretching to 5 years gives -0.26, with an annualized covariance of -4407.4 %².
Among the 37 assets we track against IPW, WU sits near the bottom by co-movement, at rank #34. Their recent paths diverged sharply: over the last 12 months WU outperformed by 92.8 percentage points (-98.6% for IPW against -5.8% for WU). Note the risk asymmetry: IPW runs 13.1 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 WU: side by side
| IPW (iPower Inc.) | WU (Western Union Company (The)) | |
|---|---|---|
| 1-year return | -98.6% | -5.8% |
| 5-year return | -99.8% | -49.2% |
| Volatility (ann.) | 405.9% | 31.1% |
| Beta vs S&P 500 | 2.99 | 0.48 |
| Max drawdown (3Y) | -100.0% | -43.2% |
| Market cap | – | $2.2B |
| P/E (trailing) | – | 5.9 |
| Dividend yield | 0.00% | 12.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPW | WU |
|---|---|---|
| 2022 | -83.2% | -17.9% |
| 2023 | +12.5% | -6.2% |
| 2024 | +85.1% | -3.8% |
| 2025 | -70.1% | -2.6% |
| 2026 | -96.8% | -18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and WU good diversifiers for each other?
Yes. With a correlation of -0.35, IPW and WU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IPW and WU?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.53 over the last year and -0.26 over 5 years.
Is WU a good diversifier for IPW?
Yes. With a correlation of -0.35, IPW and WU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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-wu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ipw-vs-wu/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IPW correlations · WU correlations
