IEP vs. CVI
IEP (Icahn Enterprises L.P.) and CVI (CVR Energy, Inc.) are both stocks. IEP operates in Conglomerates (Industrials), while CVI operates in Oil & Gas Refining & Marketing (Energy). Over the past 10 years, IEP returned -4.09%/yr vs 19.62%/yr for CVI. At a 0.28 correlation, their price movements are largely independent.
Performance
IEP vs. CVI - Performance Comparison
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Returns By Period
In the year-to-date period, IEP achieves a 8.54% return, which is significantly lower than CVI's 11.71% return. Over the past 10 years, IEP has underperformed CVI with an annualized return of -4.09%, while CVI has yielded a comparatively higher 19.62% annualized return.
IEP
- 1D
- -0.96%
- 1M
- -4.37%
- YTD
- 8.54%
- 6M
- 11.19%
- 1Y
- 10.33%
- 3Y*
- -20.40%
- 5Y*
- -19.53%
- 10Y*
- -4.09%
CVI
- 1D
- 1.82%
- 1M
- -14.02%
- YTD
- 11.71%
- 6M
- 6.80%
- 1Y
- 3.30%
- 3Y*
- 10.95%
- 5Y*
- 27.36%
- 10Y*
- 19.62%
IEP vs. CVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEP Icahn Enterprises L.P. | 8.54% | 8.23% | -37.79% | -58.78% | 18.76% | 12.87% | -3.55% | 20.44% | 18.98% | -1.17% |
CVI CVR Energy, Inc. | 11.71% | 51.83% | -34.88% | 11.51% | 210.18% | 25.69% | -61.31% | 25.44% | -0.80% | 59.94% |
Correlation
The correlation between IEP and CVI is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2007 | 0.28 |
Fundamentals
IEP:
-$1.15
CVI:
-$0.42
IEP:
0.30
CVI:
0.37
IEP:
$10.18B
CVI:
$7.50B
IEP:
$1.33B
CVI:
-$1.54B
IEP:
$1.17B
CVI:
$441.00M
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Return for Risk
IEP vs. CVI — Risk / Return Rank
IEP
CVI
IEP vs. CVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Icahn Enterprises L.P. (IEP) and CVR Energy, Inc. (CVI). 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.
| IEP | CVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.06 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.07 | +0.58 |
| Martin ratioReturn relative to average drawdown | 1.37 | 0.15 | +1.23 |
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Drawdowns
IEP vs. CVI - Drawdown Comparison
The maximum IEP drawdown since its inception was -84.21%, smaller than the maximum CVI drawdown of -92.39%. Use the drawdown chart below to compare losses from any high point for IEP and CVI.
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Drawdown Indicators
| IEP | CVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.21% | -92.39% | +8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -16.06% | -48.21% | +32.15% |
Max Drawdown (3Y)Largest decline over 3 years | -67.83% | -56.17% | -11.66% |
Max Drawdown (5Y)Largest decline over 5 years | -77.56% | -56.17% | -21.39% |
Max Drawdown (10Y)Largest decline over 10 years | -77.56% | -80.26% | +2.70% |
Current DrawdownCurrent decline from peak | -72.18% | -28.97% | -43.21% |
Average DrawdownAverage peak-to-trough decline | -30.62% | -35.14% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.56% | 22.61% | -15.05% |
Volatility
IEP vs. CVI - Volatility Comparison
The current volatility for Icahn Enterprises L.P. (IEP) is 4.81%, while CVR Energy, Inc. (CVI) has a volatility of 14.44%. This indicates that IEP experiences smaller price fluctuations and is considered to be less risky than CVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEP | CVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 14.44% | -9.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 41.24% | -25.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.12% | 52.10% | -26.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.02% | 57.96% | -16.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.36% | 59.15% | -22.79% |
Dividends
IEP vs. CVI - Dividend Comparison
IEP's dividend yield for the trailing twelve months is around 27.70%, more than CVI's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVI CVR Energy, Inc. | 1.68% | 8.88% | 8.00% | 14.85% | 32.04% | 14.28% | 8.05% | 7.54% | 7.25% | 5.37% | 7.88% | 5.08% |
IEP Icahn Enterprises L.P. | 27.70% | 26.49% | 40.37% | 34.90% | 15.79% | 16.13% | 15.79% | 13.01% | 12.26% | 11.32% | 10.01% | 9.79% |
Financials
IEP vs. CVI - Financials Comparison
This section allows you to compare key financial metrics between Icahn Enterprises L.P. and CVR Energy, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
IEP and CVI have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVI has higher volatility (14.44%) compared to IEP (4.81%). In terms of maximum drawdown, IEP dropped -84.21% vs CVI's -92.39%.
IEP currently has the higher Sharpe Ratio (0.41 vs 0.06), 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.
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