Iris Energy Correlations

IREN Stock

USD 17.94 0.11 0.61%

The current 90-days correlation between Iris Energy and Century Aluminum 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

Very weak diversification

The correlation between Iris Energy and DJI is 0.45 (i.e., Very weak 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.

Build AI portfolio with Iris Stock

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

0.95	GS	Goldman Sachs Group	Pair Corr
0.86	AXP	American Express	Pair Corr
0.91	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.97	SCM	Stellus Capital Inve	Pair Corr
0.65	GAIN	Gladstone Investment	Pair Corr
0.91	GLAD	Gladstone Capital	Pair Corr
0.92	HTGC	Hercules Capital	Pair Corr
0.96	MAIN	Main Street Capital	Pair Corr
0.62	OPFI	OppFi Inc	Pair Corr
0.88	PFLT	PennantPark Floating Rate	Pair Corr
0.74	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.94	ALLY	Ally Financial	Pair Corr
0.92	ARCC	Ares Capital	Pair Corr
0.87	TPVG	Triplepoint Venture	Pair Corr
0.91	TSLX	Sixth Street Specialty	Pair Corr
0.97	CSWC	Capital Southwest	Pair Corr
0.95	C	Citigroup Aggressive Push	Pair Corr
0.88	L	Loews Corp	Pair Corr
0.92	DHIL	Diamond Hill Investment	Pair Corr
0.62	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.61	AC	Associated Capital	Pair Corr
0.95	AX	Axos Financial	Pair Corr
0.82	BK	Bank of New York	Pair Corr
0.89	BN	Brookfield Corp	Pair Corr
0.89	BX	Blackstone Group Normal Trading	Pair Corr
0.77	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.96	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.92	CM	Canadian Imperial Bank	Pair Corr
0.85	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.92	IX	Orix Corp Ads	Pair Corr

Moving against Iris Stock

0.39	PSEC	Prospect Capital	Pair Corr
0.61	EG	Everest Group	Pair Corr
0.57	FG	FG Annuities Life	Pair Corr
0.52	LX	Lexinfintech Holdings	Pair Corr
0.45	CB	Chubb Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CENX	SPHR	WS	NXPL	CECO	MT	TV	TWI
CENX		0.64	0.6	0.75	0.58	0.62	0.55	0.71	CENX
SPHR	0.64		0.7	0.91	0.92	0.86	0.79	0.78	SPHR
WS	0.6	0.7		0.74	0.66	0.8	0.57	0.76	WS
NXPL	0.75	0.91	0.74		0.85	0.8	0.84	0.89	NXPL
CECO	0.58	0.92	0.66	0.85		0.87	0.73	0.7	CECO
MT	0.62	0.86	0.8	0.8	0.87		0.64	0.68	MT
TV	0.55	0.79	0.57	0.84	0.73	0.64		0.87	TV
TWI	0.71	0.78	0.76	0.89	0.7	0.68	0.87		TWI
	CENX	SPHR	WS	NXPL	CECO	MT	TV	TWI

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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
CENX	2.57	0.25	0.13	0.33	2.00	(3.56)	5.79	(3.83)	25.61
SPHR	2.33	0.65	0.27	0.49	2.24	(2.80)	6.04	(4.33)	17.58
WS	2.07	0.30	0.15	0.32	2.00	(2.24)	3.67	(3.33)	27.36
NXPL	3.66	0.51	0.12	0.61	3.52	(4.68)	9.59	(5.88)	22.93
CECO	2.36	0.50	0.24	0.43	1.94	(2.86)	5.59	(3.76)	20.71
MT	1.44	0.30	0.13	2.59	1.16	(1.64)	4.00	(2.31)	8.02
TV	2.04	0.49	0.12	(0.82)	2.15	(2.41)	4.91	(3.85)	13.15
TWI	2.83	0.20	0.10	0.23	2.86	(3.54)	8.40	(3.86)	19.44

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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