IRMD vs IRTC: Correlation
Measured on weekly returns over the past three years, iRadimed Corporation (IRMD) and iRhythm Holdings, Inc. (IRTC) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRMD and IRTC?
Across a 3-year window, the weekly returns of IRMD and IRTC correlate at 0.39, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.39). Stretching to 5 years gives 0.26, with an annualized covariance of 596.2 %².
Within IRMD's tracked universe of 13 assets, IRTC comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IRMD ahead by 50.9 points (+19.4% versus -31.5%). Risk is not evenly split, since IRTC carries 1.6 times the volatility of the other side.
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.
IRMD vs IRTC: side by side
| IRMD (iRadimed Corporation) | IRTC (iRhythm Holdings, Inc.) | |
|---|---|---|
| 1-year return | +19.4% | -31.5% |
| 5-year return | +185.4% | +150.2% |
| Volatility (ann.) | 30.9% | 50.1% |
| Beta vs S&P 500 | 0.61 | 0.87 |
| Max drawdown (3Y) | -24.9% | -53.8% |
| Market cap | $1.1B | $3.8B |
| P/E (trailing) | 48.9 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRMD | IRTC |
|---|---|---|
| 2022 | -37.5% | -20.4% |
| 2023 | +75.4% | +14.3% |
| 2024 | +17.0% | -15.8% |
| 2025 | +79.7% | +96.8% |
| 2026 | -10.0% | -34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRMD and IRTC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IRMD and IRTC?
As of 2026-08-27, the correlation of weekly returns between IRMD and IRTC is 0.39 over 3 years, 0.21 over 1 year and 0.26 over 5 years.
Is IRTC a good diversifier for IRMD?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/irmd-vs-irtc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/irmd-vs-irtc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IRMD correlations · IRTC correlations
