IPWR vs ORLY: Correlation
How closely do Ideal Power Inc. (IPWR) and O'Reilly Automotive (ORLY) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPWR and ORLY?
On 3 years of weekly data the IPWR/ORLY correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.20 over 3. The 5-year figure is -0.09, and annualized covariance runs at -344.5 %².
ORLY is close to the least connected end of IPWR's tracked universe, ranking #10 of 13. On 12-month performance IPWR holds a 11.9-point edge, -3.7% against -15.6%. Note the risk asymmetry: IPWR runs 4.4 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.
IPWR vs ORLY: side by side
| IPWR (Ideal Power Inc.) | ORLY (O'Reilly Automotive) | |
|---|---|---|
| 1-year return | -3.7% | -15.6% |
| 5-year return | -68.3% | +120.8% |
| Volatility (ann.) | 86.2% | 19.8% |
| Beta vs S&P 500 | 1.72 | 0.20 |
| Max drawdown (3Y) | -80.0% | -23.3% |
| Market cap | $0.1B | $71.1B |
| P/E (trailing) | – | 28.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | IPWR | ORLY |
|---|---|---|
| 2022 | -11.3% | +19.5% |
| 2023 | -27.4% | +12.6% |
| 2024 | -2.8% | +24.8% |
| 2025 | -59.1% | +15.4% |
| 2026 | +60.5% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPWR and ORLY good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IPWR and ORLY?
As of 2026-08-27, the correlation of weekly returns between IPWR and ORLY is -0.20 over 3 years, -0.29 over 1 year and -0.09 over 5 years.
Is ORLY a good diversifier for IPWR?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/ipwr-vs-orly.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ipwr-vs-orly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IPWR correlations · ORLY correlations
