CCO.TO vs. IREN

Last updated Jun 13, 2026

CCO.TO (Cameco Corporation) and IREN (IREN Limited) are both stocks. CCO.TO operates in Uranium (Energy), while IREN operates in Capital Markets (Financial Services). Over the past 3 years, CCO.TO returned 49.98%/yr vs 159.41%/yr for IREN. At a 0.28 correlation, their price movements are largely independent.

Performance

CCO.TO vs. IREN - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Cameco Corporation (CCO.TO) and IREN Limited (IREN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CCO.TO is traded in CAD, while IREN is traded in USD. To make them comparable, the IREN values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CCO.TO achieves a 12.21% return, which is significantly lower than IREN's 61.46% return.

CCO.TO

• 1D: 2.17%
• 1M: -4.70%
• YTD: 12.21%
• 6M: 11.96%
• 1Y: 56.08%
• 3Y*: 49.98%
• 5Y*: 40.56%
• 10Y*: 26.60%

IREN

• 1D: 5.59%
• 1M: 4.35%
• YTD: 61.46%
• 6M: 51.07%
• 1Y: 524.85%
• 3Y*: 159.41%
• 5Y*: —
• 10Y*: —

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

CCO.TO vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CCO.TO Cameco Corporation	12.21%	70.37%	29.62%	86.52%	11.71%	-16.41%
IREN IREN Limited	61.46%	267.06%	48.97%	458.39%	-91.78%	-41.43%

Correlation

The correlation between CCO.TO and IREN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.28

The correlation between CCO.TO and IREN shifts across timeframes, from 0.28 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS CCO.TO : CA$1.49 IREN : $0.45
PE Ratio CCO.TO : 94.41 IREN : 131.80
PS Ratio CCO.TO : 17.36 IREN : 13.39
Total Revenue (TTM) CCO.TO : CA$3.54B IREN : $757.07M
Gross Profit (TTM) CCO.TO : CA$1.13B IREN : $433.88M
EBITDA (TTM) CCO.TO : CA$818.74M IREN : -$173.05M

Return for Risk

CCO.TO vs. IREN — Risk / Return Rank

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

CCO.TO

CCO.TO Risk / Return Rank: 75
CCO.TO Sharpe Ratio Rank: 75
CCO.TO Sortino Ratio Rank: 73
CCO.TO Omega Ratio Rank: 70
CCO.TO Calmar Ratio Rank: 77
CCO.TO Martin Ratio Rank: 77

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.

CCO.TO vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cameco Corporation (CCO.TO) 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.

	CCO.TO	IREN	Difference
Sharpe ratio: Return per unit of total volatility	1.06	4.90	-3.83
Sortino ratio: Return per unit of downside risk	1.78	3.70	-1.92
Omega ratio: Gain probability vs. loss probability	1.21	1.43	-0.21
Calmar ratio: Return relative to maximum drawdown	2.12	8.53	-6.42
Martin ratio: Return relative to average drawdown	5.02	15.89	-10.87

CCO.TO vs. IREN - Sharpe Ratio Comparison

The current CCO.TO Sharpe Ratio is 1.06, which is lower than the IREN Sharpe Ratio of 4.90. The chart below compares the historical Sharpe Ratios of CCO.TO 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

CCO.TO vs. IREN - Drawdown Comparison

The maximum CCO.TO drawdown since its inception was -83.63%, smaller than the maximum IREN drawdown of -95.93%. Use the drawdown chart below to compare losses from any high point for CCO.TO and IREN.

Drawdown Indicators

	CCO.TO	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-83.63%	-95.93%	+12.30%
Max Drawdown (1Y) Largest decline over 1 year	-27.09%	-59.21%	+32.12%
Max Drawdown (3Y) Largest decline over 3 years	-39.52%	-65.03%	+25.51%
Max Drawdown (5Y) Largest decline over 5 years	-39.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.84%	—	—
Current Drawdown Current decline from peak	-22.37%	-22.49%	+0.12%
Average Drawdown Average peak-to-trough decline	-48.40%	-63.99%	+15.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.38%	31.72%	-20.34%

Volatility

CCO.TO vs. IREN - Volatility Comparison

The current volatility for Cameco Corporation (CCO.TO) is 17.67%, while IREN Limited (IREN) has a volatility of 34.05%. This indicates that CCO.TO experiences smaller price fluctuations and is considered to be less risky than IREN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CCO.TO	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.67%	34.05%	-16.38%
Volatility (6M) Calculated over the trailing 6-month period	38.63%	76.02%	-37.39%
Volatility (1Y) Calculated over the trailing 1-year period	53.97%	103.22%	-49.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.05%	118.46%	-70.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.10%	118.46%	-73.36%

Dividends

CCO.TO vs. IREN - Dividend Comparison

CCO.TO's dividend yield for the trailing twelve months is around 0.17%, while IREN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCO.TO Cameco Corporation	0.17%	0.19%	0.22%	0.21%	0.39%	0.29%	0.47%	0.69%	0.52%	3.45%	2.85%	2.34%
IREN IREN Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CCO.TO and IREN in my portfolio?

CCO.TO and IREN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.