IAMGold Correlations

IAG Stock

USD 19.56 1.37 7.53%

The current 90-days correlation between IAMGold and Eastman Chemical is 0.03 (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

Poor diversification

The correlation between IAMGold and DJI is 0.79 (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

0.96	B	Barrick Mining Symbol Change	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.89	AP	Ampco Pittsburgh	Pair Corr
0.97	AU	AngloGold Ashanti plc	Pair Corr
0.94	HL	Hecla Mining Buyout Trend	Pair Corr
0.95	MT	ArcelorMittal SA ADR	Pair Corr
0.95	OR	Osisko Gold Ro	Pair Corr
0.88	RS	Reliance Steel Aluminum	Pair Corr
0.92	SA	Seabridge Gold	Pair Corr
0.93	TX	Ternium SA ADR	Pair Corr
0.89	WS	Worthington Steel	Pair Corr
0.92	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.65	MARI	Marimaca Copper Corp	Pair Corr
0.75	LY1	Lion One Metals	Pair Corr
0.93	P4Q	Perseus Mining	Pair Corr
0.91	MKO	Mako Mining Corp	Pair Corr
0.81	CTM	Centaurus Metals	Pair Corr
0.93	RMS	Ramelius Resources	Pair Corr
0.94	QTWO	Q2 Metals Corp	Pair Corr
0.65	TWO	T2 Metals Corp	Pair Corr
0.63	WRR	Walker River Resources	Pair Corr
0.76	SBM	ST Barbara	Pair Corr
0.9	ROS	Roscan Gold Corp	Pair Corr
0.9	TXG	Torex Gold Resources	Pair Corr
0.78	RND	Rand Mining	Pair Corr
0.85	POL	Polymetals Resources	Pair Corr
0.92	RUP	Rupert Resources	Pair Corr
0.93	III	Imperial Metals	Pair Corr
0.92	AGI	Alamos Gold	Pair Corr
0.85	BTG	B2Gold Corp	Pair Corr
0.95	BVN	Compania de Minas	Pair Corr
0.91	CMC	Commercial Metals	Pair Corr
0.96	DRD	DRDGOLD Limited ADR	Pair Corr

Moving against IAMGold Stock

0.74	GML	Gateway Mining	Pair Corr
0.34	AUEN	Golden Sky Minerals	Pair Corr
0.32	LCY	Legacy Iron Ore	Pair Corr

Related Correlations Analysis

	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB
EMN		0.86	0.88	0.72	0.87	0.86	0.84	0.52	0.91	0.9	EMN
NGD	0.86		0.97	0.86	0.97	0.98	0.99	0.48	0.94	0.95	NGD
SBSW	0.88	0.97		0.85	0.99	0.96	0.97	0.46	0.95	0.94	SBSW
BTG	0.72	0.86	0.85		0.85	0.8	0.85	0.49	0.8	0.8	BTG
EGO	0.87	0.97	0.99	0.85		0.97	0.97	0.46	0.95	0.93	EGO
HL	0.86	0.98	0.96	0.8	0.97		0.97	0.53	0.95	0.92	HL
OR	0.84	0.99	0.97	0.85	0.97	0.97		0.49	0.94	0.94	OR
EXP	0.52	0.48	0.46	0.49	0.46	0.53	0.49		0.48	0.4	EXP
TX	0.91	0.94	0.95	0.8	0.95	0.95	0.94	0.48		0.96	TX
GGB	0.9	0.95	0.94	0.8	0.93	0.92	0.94	0.4	0.96		GGB
	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB

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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	1.64	0.30	0.17	0.25	1.56	(1.84)	5.51	(3.03)	9.74
NGD	3.09	0.60	0.15	0.30	3.77	(3.49)	6.67	(4.72)	29.39
SBSW	3.03	0.76	0.17	0.64	4.07	(3.52)	6.94	(5.35)	24.48
BTG	2.42	0.08	0.02	0.10	3.69	(2.49)	5.48	(5.74)	21.21
EGO	2.24	0.69	0.20	0.71	2.82	(2.53)	5.65	(3.98)	17.36
HL	4.01	0.98	0.22	0.48	4.01	(4.59)	8.95	(6.19)	27.31
OR	1.93	0.37	0.11	0.99	2.84	(2.10)	4.10	(3.18)	19.93
EXP	1.62	(0.14)	0.00	(0.05)	0.00	0.00	3.94	(3.07)	10.51
TX	1.29	0.34	0.22	0.76	1.14	(1.50)	2.72	(2.64)	7.28
GGB	1.50	0.30	0.13	0.38	1.73	(1.71)	2.87	(2.95)	11.29

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