IREN vs RIOT: Correlation
How closely do IREN Limited (IREN) and Riot Platforms, Inc. (RIOT) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IREN and RIOT?
On 3 years of weekly data the IREN/RIOT correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 5969.6 %².
Few assets follow IREN as closely as RIOT, which ranks #2 of 13 tracked partners. The last year tells two different stories: IREN led by 27.2 percentage points, +81.3% for IREN against +54.1% for RIOT.
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.
IREN vs RIOT: side by side
| IREN (IREN Limited) | RIOT (Riot Platforms, Inc.) | |
|---|---|---|
| 1-year return | +81.3% | +54.1% |
| 5-year return | +65.8% | -44.6% |
| Volatility (ann.) | 109.0% | 82.3% |
| Beta vs S&P 500 | 2.80 | 2.40 |
| Max drawdown (3Y) | -65.6% | -66.2% |
| Market cap | $14.5B | $7.8B |
| P/E (trailing) | 51.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IREN | RIOT |
|---|---|---|
| 2022 | -92.3% | -84.8% |
| 2023 | +472.0% | +356.3% |
| 2024 | +37.3% | -34.0% |
| 2025 | +284.6% | +24.1% |
| 2026 | +7.3% | +64.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IREN and RIOT good diversifiers for each other?
To a limited degree. At 0.67 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 IREN and RIOT?
The IREN/RIOT correlation stands at 0.67 on a 3-year window (1 year: 0.74, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is RIOT a good diversifier for IREN?
To a limited degree. At 0.67 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 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iren-vs-riot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iren-vs-riot/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IREN correlations · RIOT correlations
