IPWR vs TRIN: Correlation
How closely do Ideal Power Inc. (IPWR) and Trinity Capital Inc. (TRIN) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPWR and TRIN?
On 3 years of weekly data the IPWR/TRIN correlation comes out at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 550.3 %².
Among the 13 assets we track against IPWR, TRIN ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRIN outperformed by 39.3 percentage points (-3.7% for IPWR against +35.6% for TRIN). Risk is not evenly split, since IPWR carries 4.7 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.
IPWR vs TRIN: side by side
| IPWR (Ideal Power Inc.) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | -3.7% | +35.6% |
| 5-year return | -68.3% | +139.8% |
| Volatility (ann.) | 86.2% | 18.5% |
| Beta vs S&P 500 | 1.72 | 0.56 |
| Max drawdown (3Y) | -80.0% | -15.6% |
| Market cap | $0.1B | $1.7B |
| P/E (trailing) | – | 10.7 |
| Dividend yield | 0.00% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IPWR | TRIN |
|---|---|---|
| 2022 | -11.3% | -26.6% |
| 2023 | -27.4% | +54.0% |
| 2024 | -2.8% | +14.8% |
| 2025 | -59.1% | +16.0% |
| 2026 | +60.5% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPWR and TRIN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IPWR and TRIN?
As of 2026-08-27, the correlation of weekly returns between IPWR and TRIN is 0.34 over 3 years, 0.38 over 1 year and 0.32 over 5 years.
Is TRIN a good diversifier for IPWR?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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 · TRIN correlations
