VIAV vs. IREN

Last updated Jun 24, 2026

VIAV (Viavi Solutions Inc.) and IREN (IREN Limited) are both stocks. VIAV operates in Communication Equipment (Technology), while IREN operates in Capital Markets (Financial Services). Over the past 3 years, VIAV returned 68.74%/yr vs 128.28%/yr for IREN. At a 0.27 correlation, their price movements are largely independent.

Performance

VIAV vs. IREN - Performance Comparison

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

Returns By Period

In the year-to-date period, VIAV achieves a 180.42% return, which is significantly higher than IREN's 44.88% return.

VIAV

• 1D: -5.61%
• 1M: 0.93%
• YTD: 180.42%
• 6M: 173.06%
• 1Y: 419.44%
• 3Y*: 68.74%
• 5Y*: 23.38%
• 10Y*: 22.24%

IREN

• 1D: -3.78%
• 1M: -3.71%
• YTD: 44.88%
• 6M: 30.07%
• 1Y: 413.32%
• 3Y*: 128.28%
• 5Y*: —
• 10Y*: —

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

VIAV vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VIAV Viavi Solutions Inc.	180.42%	76.44%	0.30%	-4.19%	-40.35%	13.24%
IREN IREN Limited	44.88%	284.62%	37.34%	472.00%	-92.27%	-42.25%

Correlation

The correlation between VIAV and IREN is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.27

Fundamentals

EPS VIAV : -$0.24 IREN : $0.45
PS Ratio VIAV : 8.44 IREN : 12.26
Total Revenue (TTM) VIAV : $1.37B IREN : $757.07M
Gross Profit (TTM) VIAV : $767.90M IREN : $433.88M
EBITDA (TTM) VIAV : $88.40M IREN : -$173.05M

Return for Risk

VIAV vs. IREN — Risk / Return Rank

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

VIAV

VIAV Risk / Return Rank: 99
VIAV Sharpe Ratio Rank: 99
VIAV Sortino Ratio Rank: 98
VIAV Omega Ratio Rank: 98
VIAV Calmar Ratio Rank: 99
VIAV Martin Ratio Rank: 100

IREN

IREN Risk / Return Rank: 93
IREN Sharpe Ratio Rank: 98
IREN Sortino Ratio Rank: 92
IREN Omega Ratio Rank: 89
IREN Calmar Ratio Rank: 96
IREN Martin Ratio Rank: 92

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.

VIAV vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Viavi Solutions Inc. (VIAV) 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.

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.

	VIAV	IREN	Difference
Sharpe ratio: Return per unit of total volatility	6.56	4.04	+2.52
Sortino ratio: Return per unit of downside risk	5.45	3.43	+2.02
Omega ratio: Gain probability vs. loss probability	1.76	1.39	+0.37
Calmar ratio: Return relative to maximum drawdown	20.01	7.11	+12.90
Martin ratio: Return relative to average drawdown	70.00	13.43	+56.57

VIAV vs. IREN - Sharpe Ratio Comparison

The current VIAV Sharpe Ratio is 6.56, which is higher than the IREN Sharpe Ratio of 4.04. The chart below compares the historical Sharpe Ratios of VIAV 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.

Drawdowns

VIAV vs. IREN - Drawdown Comparison

The maximum VIAV drawdown since its inception was -62.88%, smaller than the maximum IREN drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for VIAV and IREN.

Drawdown Indicators

	VIAV	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-62.88%	-96.21%	+33.33%
Max Drawdown (1Y) Largest decline over 1 year	-21.13%	-58.62%	+37.49%
Max Drawdown (3Y) Largest decline over 3 years	-42.19%	-65.56%	+23.37%
Max Drawdown (5Y) Largest decline over 5 years	-62.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.88%	—	—
Current Drawdown Current decline from peak	-9.69%	-28.39%	+18.70%
Average Drawdown Average peak-to-trough decline	-20.21%	-65.20%	+44.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.03%	30.96%	-24.93%

Volatility

VIAV vs. IREN - Volatility Comparison

Viavi Solutions Inc. (VIAV) and IREN Limited (IREN) have volatilities of 28.33% and 29.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIAV	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.33%	29.02%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	55.44%	73.90%	-18.46%
Volatility (1Y) Calculated over the trailing 1-year period	64.47%	103.03%	-38.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.57%	118.37%	-74.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.78%	118.37%	-79.59%

Dividends

VIAV vs. IREN - Dividend Comparison

Neither VIAV nor IREN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IREN IREN Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VIAV Viavi Solutions Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	77.01%

Financials

Frequently Asked Questions

Can I hold both VIAV and IREN in my portfolio?

VIAV and IREN have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIAV or IREN?

IREN has higher volatility (29.02%) compared to VIAV (28.33%). In terms of maximum drawdown, VIAV dropped -62.88% vs IREN's -96.21%.

Which has better risk-adjusted returns?

VIAV currently has the higher Sharpe Ratio (6.56 vs 4.04), 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.