EAF vs IE: Correlation
GrafTech International Ltd. (EAF) and Ivanhoe Electric Inc. (IE) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EAF and IE?
On 3 years of weekly data the EAF/IE correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 2647.2 %².
By 3-year correlation, IE places #5 of the 12 assets tracked against EAF. Their recent paths diverged sharply: over the last 12 months IE outperformed by 56.4 percentage points (-25.3% for EAF against +31.1% for IE).
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.
EAF vs IE: side by side
| EAF (GrafTech International Ltd.) | IE (Ivanhoe Electric Inc.) | |
|---|---|---|
| 1-year return | -25.3% | +31.1% |
| 5-year return | -93.3% | +8.2% |
| Volatility (ann.) | 96.0% | 69.5% |
| Beta vs S&P 500 | 1.47 | 2.00 |
| Max drawdown (3Y) | -86.7% | -70.7% |
| Market cap | $0.2B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EAF | IE |
|---|---|---|
| 2022 | -59.5% | – |
| 2023 | -53.8% | -17.0% |
| 2024 | -21.0% | -25.1% |
| 2025 | -10.3% | +111.7% |
| 2026 | -52.1% | -26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EAF and IE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EAF and IE?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.47 over the last year and 0.36 over 5 years.
Is IE a good diversifier for EAF?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eaf-vs-ie.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eaf-vs-ie/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EAF correlations · IE correlations
