KRMN vs. IREN

Last updated Jun 3, 2026

KRMN (Karman Holdings Inc.) and IREN (IREN Limited) are both stocks. KRMN operates in Aerospace & Defense (Industrials), while IREN operates in Capital Markets (Financial Services). Over the past year, KRMN returned 23.67% vs 662.89% for IREN. At a 0.28 correlation, their price movements are largely independent.

Performance

KRMN vs. IREN - Performance Comparison

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

Returns By Period

In the year-to-date period, KRMN achieves a -25.31% return, which is significantly lower than IREN's 76.33% return.

KRMN

• 1D: 1.86%
• 1M: -16.86%
• YTD: -25.31%
• 6M: -14.38%
• 1Y: 23.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IREN

• 1D: 1.94%
• 1M: 45.86%
• YTD: 76.33%
• 6M: 61.96%
• 1Y: 662.89%
• 3Y*: 166.97%
• 5Y*: —
• 10Y*: —

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

KRMN vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025
KRMN Karman Holdings Inc.	-25.31%	143.49%
IREN IREN Limited	76.33%	188.76%

Correlation

The correlation between KRMN and IREN is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.28

Fundamentals

EPS KRMN : $0.23 IREN : $0.45
PE Ratio KRMN : 241.48 IREN : 146.87
PS Ratio KRMN : 13.84 IREN : 14.92
Total Revenue (TTM) KRMN : $522.59M IREN : $757.07M
Gross Profit (TTM) KRMN : $183.01M IREN : $433.88M
EBITDA (TTM) KRMN : $108.54M IREN : -$173.05M

Return for Risk

KRMN vs. IREN — Risk / Return Rank

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

KRMN

KRMN Risk / Return Rank: 52
KRMN Sharpe Ratio Rank: 52
KRMN Sortino Ratio Rank: 52
KRMN Omega Ratio Rank: 51
KRMN Calmar Ratio Rank: 52
KRMN Martin Ratio Rank: 54

IREN

IREN Risk / Return Rank: 96
IREN Sharpe Ratio Rank: 99
IREN Sortino Ratio Rank: 95
IREN Omega Ratio Rank: 92
IREN Calmar Ratio Rank: 98
IREN Martin Ratio Rank: 96

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.

KRMN vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Karman Holdings Inc. (KRMN) and IREN Limited (IREN). 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.

	KRMN	IREN	Difference
Sharpe ratio Return per unit of total volatility	0.35	6.59	-6.24
Sortino ratio Return per unit of downside risk	0.93	4.18	-3.24
Omega ratio Gain probability vs. loss probability	1.12	1.49	-0.37
Calmar ratio Return relative to maximum drawdown	0.51	11.84	-11.32
Martin ratio Return relative to average drawdown	1.32	22.80	-21.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KRMN vs. IREN - Sharpe Ratio Comparison

The current KRMN Sharpe Ratio is 0.35, which is lower than the IREN Sharpe Ratio of 6.59. The chart below compares the historical Sharpe Ratios of KRMN and IREN, 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

	KRMN	IREN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	6.59	-6.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.21	+0.65

Drawdowns

KRMN vs. IREN - Drawdown Comparison

The maximum KRMN drawdown since its inception was -53.47%, smaller than the maximum IREN drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for KRMN and IREN.

Drawdown Indicators

	KRMN	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-53.47%	-95.73%	+42.26%
Max Drawdown (1Y) Largest decline over 1 year	-53.47%	-58.62%	+5.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-65.56%	—
Current Drawdown Current decline from peak	-52.60%	-12.84%	-39.76%
Average Drawdown Average peak-to-trough decline	-12.99%	-62.83%	+49.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.77%	30.43%	-9.66%

Volatility

KRMN vs. IREN - Volatility Comparison

The current volatility for Karman Holdings Inc. (KRMN) is 22.88%, while IREN Limited (IREN) has a volatility of 33.19%. This indicates that KRMN experiences smaller price fluctuations and is considered to be less risky than IREN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KRMN	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.88%	33.19%	-10.31%
Volatility (6M) Calculated over the trailing 6-month period	56.60%	75.23%	-18.63%
Volatility (1Y) Calculated over the trailing 1-year period	68.89%	101.58%	-32.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.40%	118.46%	-50.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.40%	118.46%	-50.06%

Dividends

KRMN vs. IREN - Dividend Comparison

Neither KRMN nor IREN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both KRMN and IREN in my portfolio?

KRMN and IREN have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KRMN or IREN?

IREN has higher volatility (33.19%) compared to KRMN (22.88%). In terms of maximum drawdown, KRMN dropped -53.47% vs IREN's -95.73%.

Which has better risk-adjusted returns?

IREN currently has the higher Sharpe Ratio (6.59 vs 0.35), 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.