BTDR vs. IREN

Last updated Jun 13, 2026

BTDR (Bitdeer Technologies Group Class A Ordinary Shares) and IREN (IREN Limited) are both stocks. BTDR operates in Software - Application (Technology), while IREN operates in Capital Markets (Financial Services). Over the past 3 years, BTDR returned 34.06%/yr vs 155.58%/yr for IREN. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

BTDR vs. IREN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and IREN Limited (IREN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BTDR having a 59.05% return and IREN slightly lower at 58.25%.

BTDR

• 1D: 1.02%
• 1M: 34.87%
• YTD: 59.05%
• 6M: 67.42%
• 1Y: 34.16%
• 3Y*: 34.06%
• 5Y*: —
• 10Y*: —

IREN

• 1D: 5.40%
• 1M: 8.34%
• YTD: 58.25%
• 6M: 48.94%
• 1Y: 487.71%
• 3Y*: 155.58%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTDR vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BTDR Bitdeer Technologies Group Class A Ordinary Shares	59.05%	-48.27%	119.78%	20.10%
IREN IREN Limited	58.25%	284.62%	37.34%	95.89%

Correlation

The correlation between BTDR and IREN is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Apr 13, 2023	0.57

The correlation between BTDR and IREN has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

Fundamentals

EPS BTDR : -$2.23 IREN : $0.45
PS Ratio BTDR : 5.45 IREN : 13.39
Total Revenue (TTM) BTDR : $739.06M IREN : $757.07M
Gross Profit (TTM) BTDR : $25.18M IREN : $433.88M
EBITDA (TTM) BTDR : $59.65M IREN : -$173.05M

Return for Risk

BTDR vs. IREN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTDR

BTDR Risk / Return Rank: 56
BTDR Sharpe Ratio Rank: 55
BTDR Sortino Ratio Rank: 61
BTDR Omega Ratio Rank: 58
BTDR Calmar Ratio Rank: 54
BTDR Martin Ratio Rank: 52

IREN

IREN Risk / Return Rank: 95
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 94
IREN Omega Ratio Rank: 91
IREN Calmar Ratio Rank: 97
IREN Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTDR vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and IREN Limited (IREN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BTDR	IREN	Difference
Sharpe ratio: Return per unit of total volatility	0.34	4.76	-4.42
Sortino ratio: Return per unit of downside risk	1.21	3.66	-2.45
Omega ratio: Gain probability vs. loss probability	1.14	1.42	-0.28
Calmar ratio: Return relative to maximum drawdown	0.48	8.39	-7.91
Martin ratio: Return relative to average drawdown	0.80	15.97	-15.17

BTDR vs. IREN - Sharpe Ratio Comparison

The current BTDR Sharpe Ratio is 0.34, which is lower than the IREN Sharpe Ratio of 4.76. The chart below compares the historical Sharpe Ratios of BTDR and IREN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTDR vs. IREN - Drawdown Comparison

The maximum BTDR drawdown since its inception was -79.52%, smaller than the maximum IREN drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for BTDR and IREN.

Drawdown Indicators

	BTDR	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-79.52%	-96.21%	+16.69%
Max Drawdown (1Y) Largest decline over 1 year	-71.89%	-58.62%	-13.27%
Max Drawdown (3Y) Largest decline over 3 years	-79.52%	-65.56%	-13.96%
Current Drawdown Current decline from peak	-31.69%	-21.78%	-9.91%
Average Drawdown Average peak-to-trough decline	-43.61%	-65.42%	+21.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.86%	30.74%	+12.12%

Volatility

BTDR vs. IREN - Volatility Comparison

Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and IREN Limited (IREN) have volatilities of 33.51% and 34.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTDR	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.51%	34.10%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	69.35%	75.79%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	100.95%	103.25%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	123.31%	118.61%	+4.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	123.31%	118.61%	+4.70%

Dividends

BTDR vs. IREN - Dividend Comparison

Neither BTDR nor IREN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BTDR and IREN in my portfolio?

BTDR and IREN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTDR or IREN?

IREN has higher volatility (34.10%) compared to BTDR (33.51%). In terms of maximum drawdown, BTDR dropped -79.52% vs IREN's -96.21%.

Which has better risk-adjusted returns?

IREN currently has the higher Sharpe Ratio (4.76 vs 0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.