IAMGold Correlations

IAG Stock

USD 17.21 0.17 1.00%

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 0.33 (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

0.84	AA	Alcoa Corp	Pair Corr
0.75	RS	Reliance Steel Aluminum	Pair Corr
0.97	AGI	Alamos Gold	Pair Corr
0.97	EGO	Eldorado Gold Corp	Pair Corr
0.78	NUE	Nucor Corp	Pair Corr
0.71	ATCOL	Atlas Corp	Pair Corr
0.77	ACN	Accenture plc	Pair Corr
0.75	ATI	Allegheny Technologies	Pair Corr
0.61	ACR-PC	ACRES Commercial Realty	Pair Corr
0.8	WSFS	WSFS Financial	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.61	PFE	Pfizer Inc	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.67	XOM	Exxon Mobil Corp	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.81	WMT	Walmart Common Stock	Pair Corr

Moving against IAMGold Stock

0.84	GCMGW	GCM Grosvenor	Pair Corr
0.84	GLABF	Gemina Laboratories	Pair Corr
0.79	MAPSW	WM Technology	Pair Corr
0.79	ZTLLF	Zonetail	Pair Corr
0.72	PCTTW	PureCycle Technologies	Pair Corr
0.67	NSFDF	NXT Energy Solutions	Pair Corr
0.66	ADVWW	Advantage Solutions	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.6	HD	Home Depot	Pair Corr

Related Correlations Analysis

	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB
EMN		0.73	0.75	0.17	0.76	0.77	0.43	0.22	0.78	0.62	EMN
NGD	0.73		0.96	-0.05	0.96	0.96	0.48	-0.13	0.86	0.81	NGD
SBSW	0.75	0.96		0.08	0.97	0.96	0.57	-0.03	0.86	0.73	SBSW
BTG	0.17	-0.05	0.08		0.03	-0.08	0.68	0.87	-0.15	-0.47	BTG
EGO	0.76	0.96	0.97	0.03		0.97	0.55	-0.06	0.88	0.75	EGO
HL	0.77	0.96	0.96	-0.08	0.97		0.41	-0.12	0.92	0.84	HL
OR	0.43	0.48	0.57	0.68	0.55	0.41		0.55	0.29	-0.01	OR
EXP	0.22	-0.13	-0.03	0.87	-0.06	-0.12	0.55		-0.12	-0.45	EXP
TX	0.78	0.86	0.86	-0.15	0.88	0.92	0.29	-0.12		0.83	TX
GGB	0.62	0.81	0.73	-0.47	0.75	0.84	-0.01	-0.45	0.83		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

EGO	+ 0.97	SBSW
HL	+ 0.97	EGO
SBSW	+ 0.96	NGD
EGO	+ 0.96	NGD
HL	+ 0.96	NGD
HL	+ 0.96	SBSW

High negative correlations

GGB	- 0.47	BTG
GGB	- 0.45	EXP
TX	- 0.15	BTG
EXP	- 0.13	NGD
TX	- 0.12	EXP
EXP	- 0.12	HL

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	1.66	0.05	0.05	0.11	1.90	(1.79)	4.94	(3.60)	9.51
NGD	2.93	0.41	0.12	0.30	3.47	(3.07)	6.67	(5.93)	19.38
SBSW	3.22	0.44	0.10	0.41	4.29	(3.60)	6.46	(7.52)	18.90
BTG	2.50	(0.27)	0.00	(0.11)	0.00	0.00	4.63	(5.91)	16.10
EGO	2.22	0.37	0.11	0.44	3.10	(2.36)	5.65	(5.53)	16.16
HL	3.86	0.89	0.23	0.49	3.68	(4.44)	11.63	(6.38)	23.10
OR	1.93	(0.09)	0.00	(0.14)	0.00	0.00	3.72	(5.30)	12.73
EXP	1.54	(0.08)	(0.02)	0.03	2.06	(1.63)	3.94	(2.74)	11.98
TX	1.36	0.11	0.07	0.19	1.42	(1.55)	3.19	(2.64)	8.99
GGB	1.50	0.30	0.12	1.83	1.62	(1.78)	2.89	(2.65)	11.29

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