IREN vs. BTC-USD
IREN (IREN Limited) is a stock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, IREN returned 80.67%/yr vs 29.40%/yr for BTC-USD. Their 0.38 correlation means their historical movements had little consistent relationship.
Performance
IREN vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, IREN achieves a -2.57% return, which is significantly higher than BTC-USD's -27.75% return.
IREN
- 1D
- -3.82%
- 1M
- -5.20%
- 6M
- -31.52%
- YTD
- -2.57%
- 1Y
- 138.96%
- 3Y*
- 80.67%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.99%
BTC-USD
- 1D
- 0.72%
- 1M
- 1.12%
- 6M
- -17.79%
- YTD
- -27.75%
- 1Y
- -43.83%
- 3Y*
- 29.40%
- 5Y*
- 10.61%
- 10Y*
- 59.66%
- ALL TIME*
- 87.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1569.44T | $1598.63T | $2087.37T |
IREN IREN Limited | $2.07B | $1.84B | $2.53B |
IREN vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IREN IREN Limited | -2.57% | 284.62% | 37.34% | 472.00% | -92.27% | -42.25% |
BTC-USD Bitcoin | -27.75% | -6.27% | 120.76% | 155.82% | -64.23% | -23.12% |
Correlation
The correlation between IREN and BTC-USD is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
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 | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.60 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.85 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | -0.83 | +2.92 |
| Martin ratioReturn relative to average drawdown | 3.73 | -1.27 | +5.00 |
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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 | -61.64% | -53.08% | -8.56% |
Max Drawdown (3Y)Largest decline over 3 years | -65.56% | -53.08% | -12.48% |
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 | -51.84% | -49.31% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -64.79% | -42.73% | -22.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.57% | 24.94% | +9.63% |
Volatility
IREN vs. BTC-USD - Volatility Comparison
IREN Limited (IREN) has a higher volatility of 45.35% compared to Bitcoin (BTC-USD) at 8.45%. 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 | 45.35% | 8.45% | +36.90% |
Volatility (6M)Calculated over the trailing 6-month period | 79.91% | 33.72% | +46.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.95% | 35.86% | +76.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.14% | 43.65% | +75.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 119.14% | 56.22% | +62.92% |
Frequently Asked Questions
IREN and BTC-USD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IREN has higher volatility (45.35%) compared to BTC-USD (8.45%). In terms of maximum drawdown, IREN dropped -96.21% vs BTC-USD's -85.30%.
IREN currently has the higher Sharpe Ratio (1.15 vs -1.02), 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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