IDR vs TFPM: Correlation
How closely do Idaho Strategic Resources, Inc. (IDR) and Triple Flag Precious Metals Corp. (TFPM) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDR and TFPM?
Across a 3-year window, the weekly returns of IDR and TFPM correlate at 0.56, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.56). Stretching to 5 years gives 0.46, with an annualized covariance of 1528.8 %².
Among the 18 assets we track against IDR, TFPM ranks #5 by 3-year correlation. The trailing year gives TFPM the advantage: +26.3% versus +33.4%, a 7.1-point spread. Note the risk asymmetry: IDR runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IDR vs TFPM: side by side
| IDR (Idaho Strategic Resources, Inc.) | TFPM (Triple Flag Precious Metals Corp.) | |
|---|---|---|
| 1-year return | +26.3% | +33.4% |
| 5-year return | +702.8% | n/a |
| Volatility (ann.) | 73.6% | 37.3% |
| Beta vs S&P 500 | 0.68 | 0.62 |
| Max drawdown (3Y) | -50.0% | -34.9% |
| Market cap | $0.5B | $7.2B |
| P/E (trailing) | 22.6 | 17.5 |
| Dividend yield | 0.00% | 0.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDR | TFPM |
|---|---|---|
| 2022 | -23.4% | – |
| 2023 | +11.1% | -1.8% |
| 2024 | +61.0% | +14.6% |
| 2025 | +295.5% | +122.2% |
| 2026 | -16.1% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDR and TFPM good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IDR and TFPM?
As of 2026-08-27, the correlation of weekly returns between IDR and TFPM is 0.56 over 3 years, 0.74 over 1 year and 0.46 over 5 years.
Is TFPM a good diversifier for IDR?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
A reading of 0.56 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: IDR correlations · TFPM correlations
