IPX vs. IE

Last updated Jun 4, 2026

IPX (IperionX Limited American Depositary Share) and IE (Ivanhoe Electric Inc) are both stocks. Both are in the Basic Materials sector — IPX in Other Industrial Metals & Mining, IE in Copper. Over the past 3 years, IPX returned 86.48%/yr vs 0.20%/yr for IE. At a 0.24 correlation, their price movements are largely independent.

Performance

IPX vs. IE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IperionX Limited American Depositary Share (IPX) and Ivanhoe Electric Inc (IE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPX achieves a 10.21% return, which is significantly higher than IE's -16.40% return.

IPX

• 1D: -9.36%
• 1M: 19.08%
• YTD: 10.21%
• 6M: 20.79%
• 1Y: 73.84%
• 3Y*: 86.48%
• 5Y*: —
• 10Y*: —

IE

• 1D: -6.31%
• 1M: 7.83%
• YTD: -16.40%
• 6M: -10.15%
• 1Y: 70.19%
• 3Y*: 0.20%
• 5Y*: —
• 10Y*: —

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

IPX vs. IE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IPX IperionX Limited American Depositary Share	10.21%	5.19%	271.49%	95.98%	-20.59%
IE Ivanhoe Electric Inc	-16.40%	111.66%	-25.10%	-17.04%	12.50%

Correlation

The correlation between IPX and IE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.24

Over the past year, IPX and IE have become more correlated (0.45) than their long-term average of 0.24, meaning their price movements have been converging.

Fundamentals

Market Cap IPX : $134.13M IE : $2.12B
EPS IPX : -$4.28 IE : -$0.83
PB Ratio IPX : 1.24 IE : 3.92
Total Revenue (TTM) IPX : $0.00 IE : $3.37M
Gross Profit (TTM) IPX : -$4.58M IE : -$32.15M
EBITDA (TTM) IPX : -$72.51M IE : -$179.34M

Return for Risk

IPX vs. IE — Risk / Return Rank

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

IPX

IPX Risk / Return Rank: 66
IPX Sharpe Ratio Rank: 70
IPX Sortino Ratio Rank: 68
IPX Omega Ratio Rank: 67
IPX Calmar Ratio Rank: 65
IPX Martin Ratio Rank: 63

IE

IE Risk / Return Rank: 68
IE Sharpe Ratio Rank: 70
IE Sortino Ratio Rank: 67
IE Omega Ratio Rank: 65
IE Calmar Ratio Rank: 69
IE Martin Ratio Rank: 67

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.

IPX vs. IE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IperionX Limited American Depositary Share (IPX) and Ivanhoe Electric Inc (IE). 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.

	IPX	IE	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.96	-0.03
Sortino ratio Return per unit of downside risk	1.61	1.60	+0.01
Omega ratio Gain probability vs. loss probability	1.20	1.20	+0.01
Calmar ratio Return relative to maximum drawdown	1.17	1.54	-0.37
Martin ratio Return relative to average drawdown	2.48	3.21	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPX vs. IE - Sharpe Ratio Comparison

The current IPX Sharpe Ratio is 0.93, which is comparable to the IE Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of IPX and IE, 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

	IPX	IE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.96	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.08	+0.53

Drawdowns

IPX vs. IE - Drawdown Comparison

The maximum IPX drawdown since its inception was -65.86%, smaller than the maximum IE drawdown of -71.12%. Use the drawdown chart below to compare losses from any high point for IPX and IE.

Drawdown Indicators

	IPX	IE	Difference
Max Drawdown Largest peak-to-trough decline	-65.86%	-71.12%	+5.26%
Max Drawdown (1Y) Largest decline over 1 year	-63.43%	-45.93%	-17.50%
Max Drawdown (3Y) Largest decline over 3 years	-65.86%	-71.12%	+5.26%
Current Drawdown Current decline from peak	-33.65%	-32.93%	-0.72%
Average Drawdown Average peak-to-trough decline	-24.65%	-31.84%	+7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.91%	21.96%	+7.95%

Volatility

IPX vs. IE - Volatility Comparison

IperionX Limited American Depositary Share (IPX) and Ivanhoe Electric Inc (IE) have volatilities of 23.26% and 22.84%, 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

	IPX	IE	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.26%	22.84%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	62.17%	54.24%	+7.93%
Volatility (1Y) Calculated over the trailing 1-year period	80.26%	73.88%	+6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.48%	69.67%	+21.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.48%	69.67%	+21.81%

Dividends

IPX vs. IE - Dividend Comparison

Neither IPX nor IE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both IPX and IE in my portfolio?

IPX and IE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPX or IE?

IPX has higher volatility (23.26%) compared to IE (22.84%). In terms of maximum drawdown, IPX dropped -65.86% vs IE's -71.12%.

Which has better risk-adjusted returns?

IE currently has the higher Sharpe Ratio (0.96 vs 0.93), 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.