IREN Correlations

IREN Stock

USD 39.98 3.31 7.65%

The current 90-days correlation between IREN and Nomura Holdings ADR is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IREN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IREN moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IREN Correlation With Market

Average diversification

The correlation between IREN and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IREN and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IREN Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IREN. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

To learn how to invest in IREN Stock, please use our How to Invest in IREN guide.

Moving together with IREN Stock

0.72

TEK

Tekcapital plc

Pair Corr

Related Correlations Analysis

	NMR	TW	BCH	CG	PFG	KEY	GLXY	HLI
NMR		0.21	0.78	0.57	0.83	0.89	-0.02	0.08	NMR
TW	0.21		0.15	-0.4	0.08	0.14	-0.58	-0.42	TW
BCH	0.78	0.15		0.21	0.82	0.76	0.0	-0.24	BCH
CG	0.57	-0.4	0.21		0.47	0.55	0.35	0.68	CG
PFG	0.83	0.08	0.82	0.47		0.95	-0.06	-0.09	PFG
KEY	0.89	0.14	0.76	0.55	0.95		-0.15	-0.01	KEY
GLXY	-0.02	-0.58	0.0	0.35	-0.06	-0.15		0.62	GLXY
HLI	0.08	-0.42	-0.24	0.68	-0.09	-0.01	0.62		HLI
	NMR	TW	BCH	CG	PFG	KEY	GLXY	HLI

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

KEY	+ 0.95	PFG
KEY	+ 0.89	NMR
PFG	+ 0.83	NMR
PFG	+ 0.82	BCH
BCH	+ 0.78	NMR
KEY	+ 0.76	BCH

High negative correlations

GLXY	- 0.58	TW
HLI	- 0.42	TW
CG	- 0.4	TW
HLI	- 0.24	BCH
GLXY	- 0.15	KEY
HLI	- 0.09	PFG

Risk-Adjusted Indicators

There is a big difference between IREN Stock performing well and IREN Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IREN's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NMR	1.33	0.24	0.14	0.24	1.73	(1.47)	2.72	(2.82)	9.00
TW	1.33	0.10	0.05	0.26	1.42	(1.61)	3.15	(2.43)	10.88
BCH	1.36	0.23	0.10	0.42	1.77	(1.43)	2.72	(3.49)	8.66
CG	1.71	(0.13)	(0.02)	0.01	2.66	(1.56)	3.58	(3.66)	13.13
PFG	1.14	0.13	0.10	0.19	1.14	(1.37)	2.46	(2.39)	5.63
KEY	1.10	0.29	0.24	0.35	0.96	(1.31)	2.71	(1.74)	6.56
GLXY	4.61	(0.18)	0.00	(1.28)	0.00	0.00	10.69	(8.28)	30.35
HLI	1.05	(0.18)	0.00	(0.09)	0.00	0.00	1.93	(2.55)	10.42

IREN Corporate Management

David Shaw	Chief Officer	Profile
Heather Miller	Culture People	Profile
Kent Draper	Chief Officer	Profile
Anthony Lewis	Chief Officer	Profile
Yvonne Martins	Group Controller	Profile
Mike Power	Vice Relations	Profile
BA GAICD	G Sec	Profile

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