IRIX vs LOCL: Correlation
IRIDEX Corporation (IRIX) and Local Bounti Corporation (LOCL) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRIX and LOCL?
On 3 years of weekly data the IRIX/LOCL correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.04) than the 3-year average (-0.22). The 5-year figure is -0.11, and annualized covariance runs at -1893.5 %².
Out of 10 assets tracked against IRIX, LOCL lands near the bottom at #10. On 12-month performance IRIX holds a 13.6-point edge, -45.2% against -58.8%. Note the risk asymmetry: LOCL runs 2.3 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.
IRIX vs LOCL: side by side
| IRIX (IRIDEX Corporation) | LOCL (Local Bounti Corporation) | |
|---|---|---|
| 1-year return | -45.2% | -58.8% |
| 5-year return | -90.8% | -99.2% |
| Volatility (ann.) | 60.9% | 142.7% |
| Beta vs S&P 500 | 0.50 | -0.49 |
| Max drawdown (3Y) | -79.9% | -79.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRIX | LOCL |
|---|---|---|
| 2022 | -67.1% | -78.4% |
| 2023 | +39.8% | -88.5% |
| 2024 | -40.2% | +0.0% |
| 2025 | -32.1% | +3.4% |
| 2026 | -37.5% | -53.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRIX and LOCL good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between IRIX and LOCL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.04 over the last year and -0.11 over 5 years.
Is LOCL a good diversifier for IRIX?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/irix-vs-locl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/irix-vs-locl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IRIX correlations · LOCL correlations
