IAMGold Correlations

IAG Stock

USD 15.61 0.17 1.08%

The current 90-days correlation between IAMGold and Eastman Chemical is 0.09 (i.e., Significant diversification). The correlation of IAMGold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

IAMGold Correlation With Market

Weak diversification

The correlation between IAMGold and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IAMGold and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IAMGold Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IAMGold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more detail on how to invest in IAMGold Stock please use our How to Invest in IAMGold guide.

Moving together with IAMGold Stock

0.91	B	Barrick Mining Symbol Change	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.79	AG	First Majestic Silver Aggressive Push	Pair Corr
0.9	HL	Hecla Mining Aggressive Push	Pair Corr
0.76	TX	Ternium SA ADR	Pair Corr
0.82	QTWO	Q2 Metals Corp	Pair Corr
0.79	TXG	Torex Gold Resources	Pair Corr
0.79	III	Imperial Metals	Pair Corr
0.87	AGI	Alamos Gold	Pair Corr
0.94	EQX	Equinox Gold Corp Downward Rally	Pair Corr
0.74	EXK	Endeavour Silver Corp Aggressive Push	Pair Corr
0.87	FSM	Fortuna Silver Mines Aggressive Push	Pair Corr
0.61	GGB	Gerdau SA ADR Buyout Trend	Pair Corr

Moving against IAMGold Stock

0.6	AML	Argus Metals Corp	Pair Corr
0.4	REC	Recharge Metals	Pair Corr
0.68	XIM	Ximen Mining Corp	Pair Corr
0.58	FAL	Falcon Metals	Pair Corr
0.46	BTR	BonTerra Resources	Pair Corr
0.45	FAIR	Fairchild Gold Corp Earnings Call This Week	Pair Corr
0.41	SXC	SunCoke Energy	Pair Corr
0.36	AZ9	Asian Battery Metals	Pair Corr
0.32	ZKIN	ZK International	Pair Corr

Related Correlations Analysis

	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB
EMN		-0.11	-0.35	0.21	0.2	-0.22	0.37	0.59	-0.15	-0.4	EMN
NGD	-0.11		0.82	0.0	0.82	0.84	0.08	-0.18	0.67	0.59	NGD
SBSW	-0.35	0.82		0.23	0.69	0.84	0.1	-0.1	0.69	0.58	SBSW
BTG	0.21	0.0	0.23		0.14	-0.11	0.72	0.82	-0.18	-0.43	BTG
EGO	0.2	0.82	0.69	0.14		0.72	0.37	0.1	0.57	0.28	EGO
HL	-0.22	0.84	0.84	-0.11	0.72		-0.24	-0.29	0.89	0.8	HL
OR	0.37	0.08	0.1	0.72	0.37	-0.24		0.72	-0.34	-0.66	OR
EXP	0.59	-0.18	-0.1	0.82	0.1	-0.29	0.72		-0.28	-0.62	EXP
TX	-0.15	0.67	0.69	-0.18	0.57	0.89	-0.34	-0.28		0.81	TX
GGB	-0.4	0.59	0.58	-0.43	0.28	0.8	-0.66	-0.62	0.81		GGB
	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TX	+ 0.89	HL
HL	+ 0.84	NGD
HL	+ 0.84	SBSW
SBSW	+ 0.82	NGD
EGO	+ 0.82	NGD
EXP	+ 0.82	BTG

High negative correlations

GGB	- 0.66	OR
GGB	- 0.62	EXP
GGB	- 0.43	BTG
GGB	- 0.4	EMN
SBSW	- 0.35	EMN
TX	- 0.34	OR

Risk-Adjusted Indicators

There is a big difference between IAMGold Stock performing well and IAMGold Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IAMGold's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EMN	1.69	(0.14)	0.00	(0.02)	0.00	0.00	3.89	(3.94)	9.50
NGD	2.66	0.33	0.09	0.26	3.55	(2.80)	6.67	(5.93)	19.38
SBSW	3.02	0.64	0.15	0.71	3.70	(3.65)	6.46	(6.41)	20.51
BTG	2.52	0.02	0.01	0.08	3.77	(2.49)	4.94	(5.91)	16.10
EGO	2.23	0.32	0.09	0.41	3.08	(2.36)	5.65	(5.53)	16.16
HL	3.63	0.78	0.19	0.54	3.73	(4.09)	8.21	(6.38)	23.10
OR	1.86	0.00	(0.01)	0.07	3.13	(1.70)	3.46	(4.95)	13.30
EXP	1.31	(0.14)	0.00	(0.05)	0.00	0.00	3.57	(2.44)	11.98
TX	1.26	0.09	0.06	0.14	1.48	(1.39)	2.36	(2.88)	8.99
GGB	1.46	0.17	0.10	0.19	1.69	(1.78)	2.87	(2.92)	11.29

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