IE vs TMC: Correlation
Ivanhoe Electric Inc. (IE) and TMC the metals company Inc. (TMC) 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 TMC?
Across a 3-year window, the weekly returns of IE and TMC correlate at 0.40, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.40). Stretching to 5 years gives 0.29, with an annualized covariance of 2594.6 %².
TMC is close to the least connected end of IE's tracked universe, ranking #10 of 14. Their recent paths diverged sharply: over the last 12 months IE outperformed by 35.2 percentage points (+31.1% for IE against -4.1% for TMC).
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 TMC: side by side
| IE (Ivanhoe Electric Inc.) | TMC (TMC the metals company Inc.) | |
|---|---|---|
| 1-year return | +31.1% | -4.1% |
| 5-year return | +8.2% | -45.9% |
| Volatility (ann.) | 69.5% | 94.3% |
| Beta vs S&P 500 | 2.00 | 1.21 |
| Max drawdown (3Y) | -70.7% | -67.7% |
| Market cap | $1.9B | $2.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IE | TMC |
|---|---|---|
| 2022 | – | -63.0% |
| 2023 | -17.0% | +42.9% |
| 2024 | -25.1% | +1.8% |
| 2025 | +111.7% | +450.9% |
| 2026 | -26.8% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IE and TMC 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 TMC?
The IE/TMC correlation stands at 0.40 on a 3-year window (1 year: 0.69, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is TMC 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?
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/ie-vs-tmc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ie-vs-tmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IE correlations · TMC correlations
