Formulaic

Irony = Hypocrisy + Self-awareness.

Of course, this only applies to your own irony/hypocrisy, not that ascribed to you from others—i.e. the irony of a locally famous activist at a hip-hop show nodding along with everyone else isn’t actually irony or hypocrisy because he hasn’t staked out a position either above everyone else or opposed to hip-hop (broadly defined). It’s a difference between others’ expectation and your reality, not your words and actions.