IREN vs. USO
IREN (IREN Limited) is a stock, while USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Over the past 3 years, IREN returned 165.47%/yr vs 29.98%/yr for USO. At a 0.07 correlation, their price movements are largely independent.
Performance
IREN vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, IREN achieves a 73.37% return, which is significantly lower than USO's 103.67% return.
IREN
- 1D
- -1.68%
- 1M
- 32.34%
- YTD
- 73.37%
- 6M
- 48.95%
- 1Y
- 636.56%
- 3Y*
- 165.47%
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
IREN vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IREN IREN Limited | 73.37% | 284.62% | 37.34% | 472.00% | -92.27% | -33.87% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | -1.16% |
Correlation
The correlation between IREN and USO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021 | 0.07 |
The correlation between IREN and USO shifts across timeframes, from -0.07 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IREN vs. USO — Risk / Return Rank
IREN
USO
IREN vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IREN Limited (IREN) and United States Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.38 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 10.96 | 5.01 | +5.95 |
| Martin ratioReturn relative to average drawdown | 21.06 | 9.42 | +11.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IREN | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.33 | 2.31 | +4.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.18 | +0.38 |
Drawdowns
IREN vs. USO - Drawdown Comparison
The maximum IREN drawdown since its inception was -95.73%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IREN and USO.
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Drawdown Indicators
| IREN | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.73% | -98.19% | +2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -58.62% | -20.39% | -38.23% |
Max Drawdown (3Y)Largest decline over 3 years | -65.56% | -26.05% | -39.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -14.30% | -85.01% | +70.71% |
Average DrawdownAverage peak-to-trough decline | -62.79% | -75.30% | +12.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.44% | 10.82% | +19.62% |
Volatility
IREN vs. USO - Volatility Comparison
IREN Limited (IREN) has a higher volatility of 32.69% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that IREN's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IREN | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.69% | 14.87% | +17.82% |
Volatility (6M)Calculated over the trailing 6-month period | 75.24% | 38.23% | +37.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 101.57% | 44.20% | +57.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.41% | 36.06% | +82.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 118.41% | 39.00% | +79.41% |
Dividends
IREN vs. USO - Dividend Comparison
Neither IREN nor USO has paid dividends to shareholders.
Frequently Asked Questions
IREN and USO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IREN has higher volatility (32.69%) compared to USO (14.87%). In terms of maximum drawdown, IREN dropped -95.73% vs USO's -98.19%.
IREN currently has the higher Sharpe Ratio (6.33 vs 2.31), 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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