IPWR vs MX: Correlation
Measured on weekly returns over the past three years, Ideal Power Inc. (IPWR) and Magnachip Semiconductor Corporation (MX) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPWR and MX?
Over the past 3 years, IPWR and MX moved with a correlation of 0.37, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.37 over 3 years. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 2516.4 %².
In IPWR's tracked universe of 13 assets, MX sits right near the top at #1. On 12-month performance MX holds a 5.9-point edge, -3.7% against +2.2%.
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.
IPWR vs MX: side by side
| IPWR (Ideal Power Inc.) | MX (Magnachip Semiconductor Corporation) | |
|---|---|---|
| 1-year return | -3.7% | +2.2% |
| 5-year return | -68.3% | -81.9% |
| Volatility (ann.) | 86.2% | 79.4% |
| Beta vs S&P 500 | 1.72 | 1.88 |
| Max drawdown (3Y) | -80.0% | -73.5% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPWR | MX |
|---|---|---|
| 2022 | -11.3% | -55.2% |
| 2023 | -27.4% | -20.1% |
| 2024 | -2.8% | -46.4% |
| 2025 | -59.1% | -36.6% |
| 2026 | +60.5% | +27.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPWR and MX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IPWR and MX?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.48 over the last year and 0.33 over 5 years.
Is MX a good diversifier for IPWR?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IPWR correlations · MX correlations
