IE vs LZM: Correlation
Ivanhoe Electric Inc. (IE) and Lifezone Metals Limited (LZM) 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 IE and LZM?
Across a 3-year window, the weekly returns of IE and LZM correlate at 0.40, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.40). Stretching to 5 years gives 0.33, with an annualized covariance of 2296.1 %².
Within IE's tracked universe of 14 assets, LZM comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IE outperformed by 34.4 percentage points (+31.1% for IE against -3.3% for LZM).
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.
IE vs LZM: side by side
| IE (Ivanhoe Electric Inc.) | LZM (Lifezone Metals Limited) | |
|---|---|---|
| 1-year return | +31.1% | -3.3% |
| 5-year return | +8.2% | -55.4% |
| Volatility (ann.) | 69.5% | 81.7% |
| Beta vs S&P 500 | 2.00 | 1.75 |
| Max drawdown (3Y) | -70.7% | -82.0% |
| Market cap | $1.9B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IE | LZM |
|---|---|---|
| 2022 | – | +4.7% |
| 2023 | -17.0% | -12.9% |
| 2024 | -25.1% | -23.1% |
| 2025 | +111.7% | -38.6% |
| 2026 | -26.8% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IE and LZM good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IE and LZM?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.66 over the last year and 0.33 over 5 years.
Is LZM a good diversifier for IE?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ie-vs-lzm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ie-vs-lzm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IE correlations · LZM correlations
