WM vs. IREN

Last updated Jun 9, 2026

WM (Waste Management, Inc.) and IREN (IREN Limited) are both stocks. WM operates in Waste Management (Industrials), while IREN operates in Capital Markets (Financial Services). Over the past 3 years, WM returned 11.63%/yr vs 153.35%/yr for IREN. At a correlation of -0.02, they often move in opposite directions.

Performance

WM vs. IREN - Performance Comparison

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

Returns By Period

In the year-to-date period, WM achieves a -0.81% return, which is significantly lower than IREN's 56.71% return.

WM

• 1D: -1.93%
• 1M: 0.79%
• YTD: -0.81%
• 6M: 3.67%
• 1Y: -7.08%
• 3Y*: 11.63%
• 5Y*: 10.86%
• 10Y*: 15.25%

IREN

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

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

WM vs. IREN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WM Waste Management, Inc.	-0.81%	10.50%	14.28%	16.20%	-4.49%	1.74%
IREN IREN Limited	56.71%	284.62%	37.34%	472.00%	-92.27%	-42.25%

Correlation

The correlation between WM and IREN is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	-0.02

The correlation between WM and IREN shifts across timeframes, from -0.17 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS WM : $6.91 IREN : $0.45
PE Ratio WM : 31.28 IREN : 130.53
PS Ratio WM : 3.44 IREN : 13.26
Total Revenue (TTM) WM : $25.41B IREN : $757.07M
Gross Profit (TTM) WM : $5.61B IREN : $433.88M
EBITDA (TTM) WM : $6.96B IREN : -$173.05M

Return for Risk

WM vs. IREN — Risk / Return Rank

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

WM

WM Risk / Return Rank: 24
WM Sharpe Ratio Rank: 26
WM Sortino Ratio Rank: 22
WM Omega Ratio Rank: 23
WM Calmar Ratio Rank: 28
WM Martin Ratio Rank: 23

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.

WM vs. IREN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) 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.

	WM	IREN	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	5.00	-5.38
Sortino ratio: Return per unit of downside risk	-0.41	3.74	-4.15
Omega ratio: Gain probability vs. loss probability	0.95	1.43	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.43	8.73	-9.15
Martin ratio: Return relative to average drawdown	-0.95	16.71	-17.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WM vs. IREN - Sharpe Ratio Comparison

The current WM Sharpe Ratio is -0.38, which is lower than the IREN Sharpe Ratio of 5.00. The chart below compares the historical Sharpe Ratios of WM 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

	WM	IREN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.38	5.00	-5.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.18	+0.18

Drawdowns

WM vs. IREN - Drawdown Comparison

The maximum WM drawdown since its inception was -77.85%, smaller than the maximum IREN drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for WM and IREN.

Drawdown Indicators

	WM	IREN	Difference
Max Drawdown Largest peak-to-trough decline	-77.85%	-95.73%	+17.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.72%	-58.62%	+41.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.14%	-65.56%	+47.42%
Max Drawdown (5Y) Largest decline over 5 years	-18.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	—	—
Current Drawdown Current decline from peak	-11.59%	-22.54%	+10.95%
Average Drawdown Average peak-to-trough decline	-17.69%	-62.69%	+45.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.49%	30.55%	-23.06%

Volatility

WM vs. IREN - Volatility Comparison

The current volatility for Waste Management, Inc. (WM) is 5.91%, while IREN Limited (IREN) has a volatility of 33.35%. This indicates that WM 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

	WM	IREN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	33.35%	-27.44%
Volatility (6M) Calculated over the trailing 6-month period	13.69%	74.76%	-61.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.73%	102.51%	-83.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.55%	118.50%	-99.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	118.50%	-98.99%

Dividends

WM vs. IREN - Dividend Comparison

WM's dividend yield for the trailing twelve months is around 1.64%, while IREN has not 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%
WM Waste Management, Inc.	1.64%	1.50%	1.49%	1.56%	1.66%	1.38%	1.85%	1.80%	2.09%	1.97%	2.31%	2.89%

Financials

Frequently Asked Questions

Can I hold both WM and IREN in my portfolio?

WM and IREN have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WM or IREN?

IREN has higher volatility (33.35%) compared to WM (5.91%). In terms of maximum drawdown, WM dropped -77.85% vs IREN's -95.73%.

Which has better risk-adjusted returns?

IREN currently has the higher Sharpe Ratio (5.00 vs -0.38), 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.