According to the Shinobi Syllabus for Senran Kagura: Shinovi Versus, Ikaruga's parameters are as listed:
Specializing in speed, Ikaruga is the second fastest shinobi in the entire cast. Her other stats are near average, with the exception of her low endurance. Even the slightest attack can stagger her, so it's best to hold back and strike with precision timing.
Ikaruga's in-game stats from level 1 to level 50. Please note the numbers listed under the level intervals (anything with a +) does not indicate how much the stat increases between the two levels but rather how much it increases for every 1 level in that range:
Lv. 2 - Lv. 10
Lv. 11 - Lv. 20
Lv. 21 - Lv. 30
Lv. 31 - Lv. 40
Lv. 41 - Lv. 50
In combat, Ikaruga's standout qualities are here movement speed and dash capability. Her best battle strategy is to close in on her opponent and quickly preform a chain combo into an Aerial Rave. For enemies with low endurance, > dash > is the best option. With some of Ikaruga's moves, her number of attacks with change depending on input.
For example, against a group of enemies, her Flash > mash is an effective combo, partly because mashing more will raise the number of hits and increase her Ninja Art gauge more quickly. Against stronger enemies or one on one, give Ikaruga space and hold the button to charge her Breach Art. That way, she can safely slash away with a quickdraw technique.
Flash/Flash Mode Ikaruga's standard Flash tactic is to chain attacks into an Aerial Rave. For more Ninja Art gauge building, her > mash combo is the best way to go.
Ikaruga's Flash tactics apply just as well to Yang. For a group of enemies, mashing is the best way to build up her Ninja Art gauge. For stronger enemies, cash in on that Ninja Art gauge build up and unleash her Secret Ninja Arts.
The recommended strategy for Ikaruga in this mode is to mash the button, wearing down her enemies with rapid weak attacks. For enemies with high endurance, use her charged Breach Art or a quick . She can connect into an Aerial Rave right after.