IREN vs. BTC-USD
IREN (IREN Limited) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, IREN returned 131.23%/yr vs 27.78%/yr for BTC-USD. At a 0.38 correlation, their price movements are largely independent.
Performance
IREN vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, IREN achieves a 50.57% return, which is significantly higher than BTC-USD's -26.78% return.
IREN
- 1D
- -5.15%
- 1M
- 0.07%
- YTD
- 50.57%
- 6M
- 35.28%
- 1Y
- 443.17%
- 3Y*
- 131.23%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- 1.32%
- 1M
- -16.41%
- YTD
- -26.78%
- 6M
- -27.65%
- 1Y
- -36.56%
- 3Y*
- 27.78%
- 5Y*
- 13.72%
- 10Y*
- 57.78%
IREN vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IREN IREN Limited | 50.57% | 284.62% | 37.34% | 472.00% | -92.27% | -42.25% |
BTC-USD Bitcoin | -26.78% | -6.27% | 120.76% | 155.82% | -64.23% | -23.12% |
Correlation
The correlation between IREN and BTC-USD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021 | 0.38 |
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Return for Risk
IREN vs. BTC-USD — Risk / Return Rank
IREN
BTC-USD
IREN vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IREN Limited (IREN) and Bitcoin (BTC-USD). 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.
| IREN | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.19 | ||
| Sortino ratioReturn per unit of downside risk | +4.66 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.88 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 7.62 | -0.71 | +8.34 |
| Martin ratioReturn relative to average drawdown | 14.43 | -1.20 | +15.63 |
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Drawdowns
IREN vs. BTC-USD - Drawdown Comparison
The maximum IREN drawdown since its inception was -96.21%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for IREN and BTC-USD.
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Drawdown Indicators
| IREN | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.21% | -85.30% | -10.91% |
Max Drawdown (1Y)Largest decline over 1 year | -58.62% | -51.21% | -7.41% |
Max Drawdown (3Y)Largest decline over 3 years | -65.56% | -51.21% | -14.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -25.57% | -48.63% | +23.06% |
Average DrawdownAverage peak-to-trough decline | -65.23% | -42.41% | -22.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.91% | 31.17% | -0.26% |
Volatility
IREN vs. BTC-USD - Volatility Comparison
IREN Limited (IREN) has a higher volatility of 30.39% compared to Bitcoin (BTC-USD) at 12.27%. This indicates that IREN's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IREN | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.39% | 12.27% | +18.12% |
Volatility (6M)Calculated over the trailing 6-month period | 73.97% | 34.57% | +39.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.13% | 35.70% | +67.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.41% | 44.28% | +74.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.41% | 56.43% | +61.98% |
Frequently Asked Questions
IREN and BTC-USD have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IREN has higher volatility (30.39%) compared to BTC-USD (12.27%). In terms of maximum drawdown, IREN dropped -96.21% vs BTC-USD's -85.30%.
IREN currently has the higher Sharpe Ratio (4.34 vs -0.85), 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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