IREN vs. NGD

Last updated Jun 9, 2026

IREN (IREN Limited) and NGD (New Gold Inc.) are both stocks. IREN operates in Capital Markets (Financial Services), while NGD operates in Gold (Basic Materials). At a 0.18 correlation, their price movements are largely independent.

Performance

IREN vs. NGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IREN Limited (IREN) and New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IREN

• 1D: 8.91%
• 1M: -3.28%
• YTD: 56.71%
• 6M: 27.73%
• 1Y: 507.08%
• 3Y*: 153.35%
• 5Y*: —
• 10Y*: —

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IREN vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IREN IREN Limited	56.71%	284.62%	37.34%	472.00%	-92.27%	-33.87%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-15.25%

Correlation

The correlation between IREN and NGD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021	0.18

Fundamentals

EPS IREN : $0.45 NGD : $1.61
PE Ratio IREN : 130.53 NGD : 5.64
PS Ratio IREN : 13.26 NGD : 3.30
Total Revenue (TTM) IREN : $757.07M NGD : $1.46B
Gross Profit (TTM) IREN : $433.88M NGD : $758.26M
EBITDA (TTM) IREN : -$173.05M NGD : $1.19B

Return for Risk

IREN vs. NGD — Risk / Return Rank

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

IREN

IREN Risk / Return Rank: 95
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 94
IREN Omega Ratio Rank: 91
IREN Calmar Ratio Rank: 97
IREN Martin Ratio Rank: 94

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.

IREN vs. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IREN Limited (IREN) and New Gold Inc. (NGD). 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.

	IREN	NGD	Difference
Sharpe ratio: Return per unit of total volatility	5.00	—	—
Sortino ratio: Return per unit of downside risk	3.74	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	8.73	—	—
Martin ratio: Return relative to average drawdown	16.71	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IREN	NGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	—	—

Drawdowns

Drawdown Indicators

	IREN	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-95.73%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-58.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-65.56%	—	—
Current Drawdown Current decline from peak	-22.54%	—	—
Average Drawdown Average peak-to-trough decline	-62.69%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	30.55%	—	—

Volatility

Volatility by Period

	IREN	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	74.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	102.51%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	118.50%	—	—

Dividends

IREN vs. NGD - Dividend Comparison

Neither IREN nor NGD has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both IREN and NGD in my portfolio?

IREN and NGD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.