I have a 400 kHz signal with about 1% duty cycle, producing a roughly 400 Vpp input on and 270 Vpp on the output. My current probe is rated for upto 800 kHz so I am assuming that signal should be fine for accuracy. However, my 270 Vpp shows 30 V RMS. Seems like a discrepancy there. Is it valid to calculate the average power using V_rms X I_rms?
You have asked various aspects of your question multiple times and you aren't going to get good specific answers without being clear about the details of your circuit and signal.
Are you saying that your signal has a repetition rate of 400kHz and a duty cycle of 1%? So it is a 25ns pulse every 2.5µs? And 400V
p-p input and 270V
p-p output (whatever input and output are)?
If so, your current probe is not even close to being appropriate for the task and if you are using standard 10X oscilloscope probes, those are only hanging together because of the low duty cycle. What kind of current is involved? This sounds like a pretty high energy circuit with a BW of ~50MHz or so.