AREN vs IAUX: Correlation
Measured on weekly returns over the past three years, The Arena Group Holdings, Inc. (AREN) and i-80 Gold Corp. (IAUX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and IAUX?
Across a 3-year window, the weekly returns of AREN and IAUX correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.00) runs above the 3-year figure (-0.30). Stretching to 5 years gives -0.25, with an annualized covariance of -4308.2 %².
IAUX is close to the least connected end of AREN's tracked universe, ranking #21 of 22. The last year tells two different stories: IAUX led by 237.1 percentage points, -84.8% for AREN against +152.3% for IAUX. One caveat on sizing: AREN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AREN vs IAUX: side by side
| AREN (The Arena Group Holdings, Inc.) | IAUX (i-80 Gold Corp.) | |
|---|---|---|
| 1-year return | -84.8% | +152.3% |
| 5-year return | -93.0% | -7.4% |
| Volatility (ann.) | 157.6% | 91.2% |
| Beta vs S&P 500 | 0.49 | 1.99 |
| Max drawdown (3Y) | -91.7% | -82.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AREN | IAUX |
|---|---|---|
| 2022 | -24.6% | +15.0% |
| 2023 | -77.6% | -37.6% |
| 2024 | -43.7% | -72.4% |
| 2025 | +198.5% | +201.0% |
| 2026 | -76.5% | +31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and IAUX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AREN and IAUX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with 0.00 over the last year and -0.25 over 5 years.
Is IAUX a good diversifier for AREN?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AREN correlations · IAUX correlations
