WGMI: High Correlation To Bitcoin, Significant Downside Remaining [Seeking Alpha]
Iris Energy Limited (IREN)
Company Research
Source: Seeking Alpha
WGMI is highly concentrated, with over 82% in its top ten holdings, notably Cipher Mining and IREN Ltd. The ETF exhibits high beta and volatility, with a standard deviation of 85% and annualized volatility of 80%, closely tracking Bitcoin price movements. Recent correlation to Bitcoin has decreased to 63%, but WGMI remains sensitive to further downside in the crypto market. MF3d/iStock via Getty Images Thesis The CoinShares Bitcoin Mining ETF ( WGMI ) is an equities exchange-traded fund. In particular, the ETF aims to: Gain pure-play access to North America's leading Bitcoin mining industry, a crucial component of the Bitcoin ecosystem. WGMI provides This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other t
Show less
Read more
Impact Snapshot
Event Time:
IREN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
IREN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
IREN alerts
High impacting Iris Energy Limited news events
Weekly update
A roundup of the hottest topics
IREN
News
- IREN (NASDAQ:IREN) had its "buy" rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $70.00 price target on the stock.MarketBeat
- IREN (NASDAQ:IREN) was downgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=IREN&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall Street Zen</a> froMarketBeat
- Why IREN's Post-Market Selloff Misses The Big Picture [Seeking Alpha]Seeking Alpha
- IREN: Don't Buy This Heavy Dip (Earnings Review) [Seeking Alpha]Seeking Alpha
- IREN (NASDAQ:IREN) had its "outperform" rating reaffirmed by analysts at Macquarie.MarketBeat
IREN
Sec Filings
- 2/5/26 - Form 10-Q
- 2/5/26 - Form 8-K
- 2/2/26 - Form SCHEDULE
- IREN's page on the SEC website