Corona is very simple to use, and does not require any external tool or iOS restore. So, through guide below you can know how Corona performs untethered jailbreak of iOS 5.0.1 over iPhone 4, 3GS, iPod Touch 4G, 3G and original iPad.
Note: To use Corona your iDevice must be already jailbroken, otherwise go for Redsn0w untethered jailbreak.
Untethered Jailbreak of iOS 5.0.1 with Corona
Tap on “Cydia” icon from Springboard of your already jailbroken iDevice
Tap on “Search” and search for “Corona 5.0.1 untethered”
Tap “Cydia” and “Reboot” and that’s it
Enjoy, your iDevice is now untethered jailbroken over iOS 5.0.1.