III.TO vs. LTR.AX

Last updated Jun 4, 2026

III.TO (Imperial Metals Corporation) and LTR.AX (Liontown Resources Limited) are both stocks. Both are in the Basic Materials sector — III.TO in Copper, LTR.AX in Other Industrial Metals & Mining. Over the past 10 years, III.TO returned 1.85%/yr vs 59.64%/yr for LTR.AX. At a 0.05 correlation, their price movements are largely independent.

Performance

III.TO vs. LTR.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Imperial Metals Corporation (III.TO) and Liontown Resources Limited (LTR.AX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

III.TO is traded in CAD, while LTR.AX is traded in AUD. To make them comparable, the LTR.AX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, III.TO achieves a -30.80% return, which is significantly lower than LTR.AX's 66.20% return. Over the past 10 years, III.TO has underperformed LTR.AX with an annualized return of 1.85%, while LTR.AX has yielded a comparatively higher 59.64% annualized return.

III.TO

• 1D: -3.08%
• 1M: 7.79%
• YTD: -30.80%
• 6M: -10.48%
• 1Y: 43.57%
• 3Y*: 54.95%
• 5Y*: 6.84%
• 10Y*: 1.85%

LTR.AX

• 1D: -3.30%
• 1M: 1.45%
• YTD: 66.20%
• 6M: 94.27%
• 1Y: 370.24%
• 3Y*: -0.69%
• 5Y*: 33.69%
• 10Y*: 59.64%

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

III.TO vs. LTR.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
III.TO Imperial Metals Corporation	-30.80%	449.45%	-16.51%	20.44%	-42.90%	-37.84%	147.57%	32.90%	-54.28%	-44.06%
LTR.AX Liontown Resources Limited	66.20%	208.61%	-68.60%	22.17%	-20.16%	371.39%	321.72%	245.71%	-46.11%	163.29%

Correlation

The correlation between III.TO and LTR.AX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009	0.05

The correlation between III.TO and LTR.AX shifts across timeframes, from 0.03 (10 years) to 0.18 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

III.TO vs. LTR.AX — Risk / Return Rank

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

III.TO

III.TO Risk / Return Rank: 61
III.TO Sharpe Ratio Rank: 65
III.TO Sortino Ratio Rank: 61
III.TO Omega Ratio Rank: 61
III.TO Calmar Ratio Rank: 58
III.TO Martin Ratio Rank: 58

LTR.AX

LTR.AX Risk / Return Rank: 95
LTR.AX Sharpe Ratio Rank: 97
LTR.AX Sortino Ratio Rank: 92
LTR.AX Omega Ratio Rank: 90
LTR.AX Calmar Ratio Rank: 97
LTR.AX Martin Ratio Rank: 96

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.

III.TO vs. LTR.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Imperial Metals Corporation (III.TO) and Liontown Resources Limited (LTR.AX). 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.

	III.TO	LTR.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.75	4.53	-3.78
Sortino ratio: Return per unit of downside risk	1.32	3.84	-2.52
Omega ratio: Gain probability vs. loss probability	1.17	1.46	-0.30
Calmar ratio: Return relative to maximum drawdown	0.80	11.28	-10.48
Martin ratio: Return relative to average drawdown	1.77	28.41	-26.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

III.TO vs. LTR.AX - Sharpe Ratio Comparison

The current III.TO Sharpe Ratio is 0.75, which is lower than the LTR.AX Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of III.TO and LTR.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	III.TO	LTR.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	4.53	-3.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.42	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	0.58	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.30	-0.28

Drawdowns

III.TO vs. LTR.AX - Drawdown Comparison

The maximum III.TO drawdown since its inception was -98.92%, roughly equal to the maximum LTR.AX drawdown of -96.57%. Use the drawdown chart below to compare losses from any high point for III.TO and LTR.AX.

Drawdown Indicators

	III.TO	LTR.AX	Difference
Max Drawdown Largest peak-to-trough decline	-98.92%	-96.57%	-2.35%
Max Drawdown (1Y) Largest decline over 1 year	-54.57%	-32.31%	-22.26%
Max Drawdown (3Y) Largest decline over 3 years	-54.57%	-87.02%	+32.45%
Max Drawdown (5Y) Largest decline over 5 years	-67.20%	-87.02%	+19.82%
Max Drawdown (10Y) Largest decline over 10 years	-87.50%	-87.02%	-0.48%
Current Drawdown Current decline from peak	-62.27%	-16.10%	-46.17%
Average Drawdown Average peak-to-trough decline	-59.48%	-53.78%	-5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.73%	12.88%	+11.85%

Volatility

III.TO vs. LTR.AX - Volatility Comparison

Imperial Metals Corporation (III.TO) has a higher volatility of 20.78% compared to Liontown Resources Limited (LTR.AX) at 16.45%. This indicates that III.TO's price experiences larger fluctuations and is considered to be riskier than LTR.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	III.TO	LTR.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.78%	16.45%	+4.33%
Volatility (6M) Calculated over the trailing 6-month period	46.67%	52.96%	-6.29%
Volatility (1Y) Calculated over the trailing 1-year period	58.50%	80.54%	-22.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.65%	80.97%	-28.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.51%	102.54%	-40.03%

Dividends

III.TO vs. LTR.AX - Dividend Comparison

Neither III.TO nor LTR.AX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
III.TO Imperial Metals Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LTR.AX Liontown Resources Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.04%

Financials

Frequently Asked Questions

Can I hold both III.TO and LTR.AX in my portfolio?

III.TO and LTR.AX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.