Iris Energy Correlations

IREN Stock

USD 10.10 0.31 2.98%

The current 90-days correlation between Iris Energy and Stagwell is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Iris Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Iris Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Iris Energy Correlation With Market

Poor diversification

The correlation between Iris Energy and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iris Energy and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Iris Stock

0.7	AC	Associated Capital	Pair Corr
0.87	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.78	MC	Moelis	Pair Corr
0.88	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.88	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.63	VIRT	Virtu Financial Normal Trading	Pair Corr
0.84	AMP	Ameriprise Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.87	EVR	Evercore Partners	Pair Corr
0.84	FRHC	Freedom Holding Corp	Pair Corr
0.7	IPXXU	Inflection Point Acq	Pair Corr
0.63	LRFC	Logan Ridge Finance	Pair Corr
0.65	PNNT	PennantPark Investment	Pair Corr
0.72	RMCO	Royalty Management	Pair Corr
0.88	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr
0.88	SEIC	SEI Investments	Pair Corr
0.84	STEP	Stepstone Group	Pair Corr
0.71	SVII	Spring Valley Acquisition	Pair Corr
0.81	C	Citigroup Fiscal Year End 10th of January 2025	Pair Corr
0.69	V	Visa Class A	Pair Corr
0.68	DHIL	Diamond Hill Investment	Pair Corr
0.78	AB	AllianceBernstein Normal Trading	Pair Corr
0.76	AX	Axos Financial	Pair Corr
0.77	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.82	BN	Brookfield Corp	Pair Corr
0.84	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.76	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Iris Stock

0.53	PT	Pintec Technology	Pair Corr
0.53	XP	Xp Inc Downward Rally	Pair Corr
0.47	GROW	US Global Investors	Pair Corr
0.55	RAND	Rand Capital Corp	Pair Corr
0.63	IX	Orix Corp Ads	Pair Corr
0.48	EG	Everest Group	Pair Corr
0.41	HG	Hamilton Insurance Group,	Pair Corr

Related Correlations Analysis

	MMSI	CSXXY	STGW	BOC	CAH	EVC	MASS	CTV
MMSI		-0.13	0.56	0.61	0.72	0.63	-0.59	0.03	MMSI
CSXXY	-0.13		-0.21	-0.02	-0.4	-0.34	0.21	-0.03	CSXXY
STGW	0.56	-0.21		0.12	0.55	0.2	-0.16	-0.19	STGW
BOC	0.61	-0.02	0.12		0.43	0.68	-0.28	0.6	BOC
CAH	0.72	-0.4	0.55	0.43		0.7	-0.64	-0.08	CAH
EVC	0.63	-0.34	0.2	0.68	0.7		-0.63	0.4	EVC
MASS	-0.59	0.21	-0.16	-0.28	-0.64	-0.63		0.22	MASS
CTV	0.03	-0.03	-0.19	0.6	-0.08	0.4	0.22		CTV
	MMSI	CSXXY	STGW	BOC	CAH	EVC	MASS	CTV

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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

CAH	+ 0.72	MMSI
EVC	+ 0.7	CAH
EVC	+ 0.68	BOC
EVC	+ 0.63	MMSI
BOC	+ 0.61	MMSI
CTV	+ 0.6	BOC

High negative correlations

MASS	- 0.64	CAH
MASS	- 0.63	EVC
MASS	- 0.59	MMSI
CAH	- 0.4	CSXXY
EVC	- 0.34	CSXXY
MASS	- 0.28	BOC

Risk-Adjusted Indicators

There is a big difference between Iris Stock performing well and Iris Energy 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 Iris Energy'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
MMSI	0.88	0.16	0.12	0.38	0.70	(0.96)	2.11	(1.23)	6.42
CSXXY	1.07	0.05	(0.01)	(0.12)	1.78	(2.98)	3.88	(5.22)	16.82
STGW	1.91	0.05	0.05	0.11	2.13	(2.13)	3.76	(3.72)	9.83
BOC	1.09	0.05	0.04	0.13	1.48	(1.11)	1.91	(2.39)	8.78
CAH	1.01	0.11	0.05	0.28	1.18	(1.06)	1.98	(1.97)	10.66
EVC	2.26	0.23	0.12	0.19	2.34	(3.08)	5.05	(4.41)	14.74
MASS	3.03	(0.88)	0.00	(0.23)	0.00	0.00	5.51	(5.82)	30.05
CTV	2.64	(0.31)	0.00	(0.06)	0.00	0.00	5.35	(6.01)	13.54

Iris Energy Corporate Management

David Shaw	Chief Officer	Profile
Heather Miller	Culture People	Profile
Kent Draper	Chief Officer	Profile
Yvonne Martins	Group Controller	Profile
BA GAICD	G Sec	Profile
Denis Skrinnikoff	Chief Officer	Profile
Glenn Harrison	VP Operations	Profile

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