ICU vs IRIX: Correlation
SeaStar Medical Holding Corporation (ICU) and IRIDEX Corporation (IRIX) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICU and IRIX?
Over the past 3 years, ICU and IRIX moved with a correlation of 0.29, which is weak. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.29). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 2734.5 %².
IRIX is one of the assets that tracks ICU most closely: it ranks #1 out of the 10 assets we track against ICU. Their recent paths diverged sharply: over the last 12 months IRIX outperformed by 18.2 percentage points (-63.4% for ICU against -45.2% for IRIX). One caveat on sizing: ICU is 2.6 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.
ICU vs IRIX: side by side
| ICU (SeaStar Medical Holding Corporation) | IRIX (IRIDEX Corporation) | |
|---|---|---|
| 1-year return | -63.4% | -45.2% |
| 5-year return | -99.9% | -90.8% |
| Volatility (ann.) | 156.9% | 60.9% |
| Beta vs S&P 500 | 0.82 | 0.50 |
| Max drawdown (3Y) | -99.4% | -79.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICU | IRIX |
|---|---|---|
| 2022 | -59.2% | -67.1% |
| 2023 | -89.2% | +39.8% |
| 2024 | -82.5% | -40.2% |
| 2025 | -87.6% | -32.1% |
| 2026 | +29.2% | -37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICU and IRIX good diversifiers for each other?
Reasonably. At 0.29, ICU and IRIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ICU and IRIX?
As of 2026-08-27, the correlation of weekly returns between ICU and IRIX is 0.29 over 3 years, 0.07 over 1 year and 0.24 over 5 years.
Is IRIX a good diversifier for ICU?
Reasonably. At 0.29, ICU and IRIX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
A reading of 0.29 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/icu-vs-irix.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/icu-vs-irix/)
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Related comparisons
Hubs: ICU correlations · IRIX correlations
