PPTA vs. IONR

Last updated Jun 3, 2026

PPTA (Perpetua Resources Corp) and IONR (ioneer Ltd American Depositary Shares) are both stocks. Both are in the Basic Materials sector — PPTA in Other Precious Metals & Mining, IONR in Other Industrial Metals & Mining. Over the past 3 years, PPTA returned 75.66%/yr vs -21.28%/yr for IONR. At a 0.21 correlation, their price movements are largely independent.

Performance

PPTA vs. IONR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Perpetua Resources Corp (PPTA) and ioneer Ltd American Depositary Shares (IONR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPTA achieves a 8.14% return, which is significantly higher than IONR's -7.71% return.

PPTA

• 1D: 1.71%
• 1M: -4.70%
• YTD: 8.14%
• 6M: 5.74%
• 1Y: 74.77%
• 3Y*: 75.66%
• 5Y*: 28.65%
• 10Y*: —

IONR

• 1D: -1.12%
• 1M: 9.38%
• YTD: -7.71%
• 6M: -0.67%
• 1Y: 26.63%
• 3Y*: -21.28%
• 5Y*: —
• 10Y*: —

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

PPTA vs. IONR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PPTA Perpetua Resources Corp	8.14%	126.90%	236.59%	8.56%	-11.78%
IONR ioneer Ltd American Depositary Shares	-7.71%	20.30%	-0.50%	-63.15%	-38.27%

Correlation

The correlation between PPTA and IONR is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022	0.21

The correlation between PPTA and IONR shifts across timeframes, from 0.20 (3 years) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PPTA : $2.44B IONR : $267.35M
EPS PPTA : $1.22 IONR : -$0.38
PB Ratio PPTA : 2.83 IONR : 1.16
Total Revenue (TTM) PPTA : $0.00 IONR : $0.00
Gross Profit (TTM) PPTA : $0.00 IONR : -$588.85K
EBITDA (TTM) PPTA : $0.00 IONR : -$9.14M

Return for Risk

PPTA vs. IONR — Risk / Return Rank

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

PPTA

PPTA Risk / Return Rank: 72
PPTA Sharpe Ratio Rank: 71
PPTA Sortino Ratio Rank: 67
PPTA Omega Ratio Rank: 67
PPTA Calmar Ratio Rank: 79
PPTA Martin Ratio Rank: 76

IONR

IONR Risk / Return Rank: 53
IONR Sharpe Ratio Rank: 50
IONR Sortino Ratio Rank: 58
IONR Omega Ratio Rank: 54
IONR Calmar Ratio Rank: 51
IONR Martin Ratio Rank: 49

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.

PPTA vs. IONR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Perpetua Resources Corp (PPTA) and ioneer Ltd American Depositary Shares (IONR). 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.

	PPTA	IONR	Difference
Sharpe ratio Return per unit of total volatility	0.99	0.26	+0.73
Sortino ratio Return per unit of downside risk	1.64	1.20	+0.43
Omega ratio Gain probability vs. loss probability	1.21	1.14	+0.07
Calmar ratio Return relative to maximum drawdown	2.61	0.49	+2.12
Martin ratio Return relative to average drawdown	5.41	0.87	+4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPTA vs. IONR - Sharpe Ratio Comparison

The current PPTA Sharpe Ratio is 0.99, which is higher than the IONR Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of PPTA and IONR, 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

	PPTA	IONR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.26	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	-0.36	+0.71

Drawdowns

PPTA vs. IONR - Drawdown Comparison

The maximum PPTA drawdown since its inception was -81.78%, smaller than the maximum IONR drawdown of -87.76%. Use the drawdown chart below to compare losses from any high point for PPTA and IONR.

Drawdown Indicators

	PPTA	IONR	Difference
Max Drawdown Largest peak-to-trough decline	-81.78%	-87.76%	+5.98%
Max Drawdown (1Y) Largest decline over 1 year	-33.80%	-62.01%	+28.21%
Max Drawdown (3Y) Largest decline over 3 years	-43.37%	-76.05%	+32.68%
Max Drawdown (5Y) Largest decline over 5 years	-81.78%	—	—
Current Drawdown Current decline from peak	-29.66%	-78.39%	+48.73%
Average Drawdown Average peak-to-trough decline	-38.74%	-67.19%	+28.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.30%	34.80%	-18.50%

Volatility

PPTA vs. IONR - Volatility Comparison

Perpetua Resources Corp (PPTA) has a higher volatility of 24.66% compared to ioneer Ltd American Depositary Shares (IONR) at 23.10%. This indicates that PPTA's price experiences larger fluctuations and is considered to be riskier than IONR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPTA	IONR	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.66%	23.10%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	54.72%	64.14%	-9.42%
Volatility (1Y) Calculated over the trailing 1-year period	75.96%	101.47%	-25.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.84%	83.08%	-11.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.94%	83.08%	-11.14%

Dividends

PPTA vs. IONR - Dividend Comparison

Neither PPTA nor IONR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both PPTA and IONR in my portfolio?

PPTA and IONR 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.

Which is riskier, PPTA or IONR?

PPTA has higher volatility (24.66%) compared to IONR (23.10%). In terms of maximum drawdown, PPTA dropped -81.78% vs IONR's -87.76%.

Which has better risk-adjusted returns?

PPTA currently has the higher Sharpe Ratio (0.99 vs 0.26), 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.