IAMGold Correlations

IAG Stock

USD 23.82 0.83 3.61%

The current 90-days correlation between IAMGold and Blue Gold Limited is 0.2 (i.e., Modest 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

Poor diversification

The correlation between IAMGold and DJI is 0.78 (i.e., Poor 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

0.82	B	Barrick Mining Symbol Change	Pair Corr
0.83	BP60	ALMA METALS LTD	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.97	AG	First Majestic Silver Aggressive Push	Pair Corr
0.93	AP	Ampco Pittsburgh	Pair Corr
0.96	AU	AngloGold Ashanti plc	Pair Corr
0.79	SRM	Seabridge Gold	Pair Corr
0.76	HL	Hecla Mining Aggressive Push	Pair Corr
0.93	MT	ArcelorMittal SA ADR	Pair Corr
0.74	NG	NovaGold Resources	Pair Corr
0.94	OR	Osisko Gold Ro	Pair Corr
0.81	RS	Reliance Steel Aluminum	Pair Corr
0.88	SA	Seabridge Gold	Pair Corr
0.75	TG	Tredegar	Pair Corr
0.9	TX	Ternium SA ADR	Pair Corr
0.83	WS	Worthington Steel	Pair Corr
0.67	CUU	Copper Fox Metals	Pair Corr
0.93	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.68	ARI	Arika Resources	Pair Corr
0.67	SRK	Strike Resources	Pair Corr
0.82	LY1	Lion One Metals Earnings Call This Week	Pair Corr
0.83	UJ0	WEST RED LAKE	Pair Corr
0.9	H6F	ARIZONA SONORAN PER	Pair Corr
0.75	DHR	Discovery Harbour	Pair Corr
0.82	P4Q	Perseus Mining	Pair Corr
0.89	ELY	Ely Gold Royalties	Pair Corr
0.96	WPM	Wheaton Precious Metals	Pair Corr

Moving against IAMGold Stock

0.6	0GC0	RIDGELINE MINERALS	Pair Corr
0.83	R8R	REGENER8 Resources	Pair Corr
0.5	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	VGZ	FF	BHST	USAU	FRD	LVRO	CMT	USGO	BGL
VGZ		0.7	-0.65	0.22	-0.22	-0.04	-0.01	0.72	-0.15	VGZ
FF	0.7		-0.59	-0.13	-0.35	-0.44	0.01	0.23	-0.38	FF
BHST	-0.65	-0.59		-0.22	-0.03	0.09	-0.27	-0.39	0.71	BHST
USAU	0.22	-0.13	-0.22		0.04	-0.05	0.08	0.28	-0.17	USAU
FRD	-0.22	-0.35	-0.03	0.04		0.0	0.72	-0.24	-0.19	FRD
LVRO	-0.04	-0.44	0.09	-0.05	0.0		-0.32	0.36	0.22	LVRO
CMT	-0.01	0.01	-0.27	0.08	0.72	-0.32		-0.24	-0.35	CMT
USGO	0.72	0.23	-0.39	0.28	-0.24	0.36	-0.24		0.16	USGO
BGL	-0.15	-0.38	0.71	-0.17	-0.19	0.22	-0.35	0.16		BGL
	VGZ	FF	BHST	USAU	FRD	LVRO	CMT	USGO	BGL

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

USGO	+ 0.72	VGZ
CMT	+ 0.72	FRD
BGL	+ 0.71	BHST
FF	+ 0.7	VGZ
USGO	+ 0.36	LVRO
USGO	+ 0.28	USAU

High negative correlations

BHST	- 0.65	VGZ
BHST	- 0.59	FF
LVRO	- 0.44	FF
USGO	- 0.39	BHST
BGL	- 0.38	FF
BGL	- 0.35	CMT

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
VGZ	5.05	0.87	0.14	0.69	5.74	(6.09)	14.65	(8.12)	33.87
FF	1.62	0.55	0.22	8.10	1.44	(1.96)	5.61	(2.96)	14.08
BHST	2.88	(0.48)	0.00	(0.65)	0.00	0.00	6.12	(6.09)	21.71
USAU	3.54	0.42	0.09	0.52	4.21	(3.97)	7.02	(7.25)	24.87
FRD	1.95	(0.18)	0.00	(0.02)	0.00	0.00	4.43	(4.16)	13.09
LVRO	8.74	(1.63)	0.00	(0.40)	0.00	0.00	14.81	(22.45)	177.78
CMT	1.81	(0.06)	(0.01)	0.06	2.55	(1.79)	3.78	(3.71)	13.25
USGO	3.51	0.39	0.08	0.51	4.06	(3.91)	9.48	(8.59)	22.95
BGL	8.45	(0.14)	0.00	0.04	9.12	(10.82)	16.96	(16.33)	124.55

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