IAMGold Correlations

IAG Stock

USD 16.22 0.27 1.64%

The current 90-days correlation between IAMGold and Eastman Chemical is 0.1 (i.e., Average 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

0.95	B	Barrick Mining Symbol Change	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.71	RS	Reliance Steel Aluminum	Pair Corr
0.93	SA	Seabridge Gold	Pair Corr
0.84	WS	Worthington Steel	Pair Corr
0.97	AGI	Alamos Gold	Pair Corr
0.92	DRD	DRDGOLD Limited ADR	Pair Corr
0.8	EXK	Endeavour Silver Corp	Pair Corr
0.92	FSM	Fortuna Silver Mines	Pair Corr
0.78	ZEUS	Olympic Steel	Pair Corr
0.63	LODE	Comstock Mining	Pair Corr
0.9	AAUC	Allied Gold	Pair Corr
0.95	ARMN	Aris Mining	Pair Corr
0.71	FINN	First National	Pair Corr
0.61	HYMTF	Hyundai Motor	Pair Corr
0.71	NAUFF	NevGold Corp	Pair Corr
0.72	DB	Deutsche Bank AG	Pair Corr
0.84	FTV	Fortive Corp	Pair Corr
0.85	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.86	MRK	Merck Company	Pair Corr

Moving against IAMGold Stock

0.8	CTDD	Qwest Corp 6	Pair Corr
0.73	MAPSW	WM Technology	Pair Corr
0.71	PCTTW	PureCycle Technologies	Pair Corr
0.7	CTBB	Qwest Corp NT	Pair Corr
0.67	ADVWW	Advantage Solutions	Pair Corr
0.35	SKM	SK Telecom	Pair Corr
0.73	MSFT	Microsoft	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.43	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	EMN	NGD	SBSW	BTG	EGO	HL	OR	EXP	TX	GGB
EMN		0.56	0.59	0.3	0.64	0.55	0.37	0.3	0.55	0.36	EMN
NGD	0.56		0.94	-0.05	0.95	0.92	0.29	-0.2	0.78	0.7	NGD
SBSW	0.59	0.94		0.09	0.96	0.93	0.35	-0.08	0.8	0.64	SBSW
BTG	0.3	-0.05	0.09		0.05	-0.13	0.74	0.9	-0.2	-0.52	BTG
EGO	0.64	0.95	0.96	0.05		0.93	0.4	-0.09	0.81	0.63	EGO
HL	0.55	0.92	0.93	-0.13	0.93		0.08	-0.25	0.9	0.82	HL
OR	0.37	0.29	0.35	0.74	0.4	0.08		0.63	-0.05	-0.4	OR
EXP	0.3	-0.2	-0.08	0.9	-0.09	-0.25	0.63		-0.24	-0.56	EXP
TX	0.55	0.78	0.8	-0.2	0.81	0.9	-0.05	-0.24		0.82	TX
GGB	0.36	0.7	0.64	-0.52	0.63	0.82	-0.4	-0.56	0.82		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	+ 0.96	SBSW
EGO	+ 0.95	NGD
SBSW	+ 0.94	NGD
HL	+ 0.93	SBSW
HL	+ 0.93	EGO
HL	+ 0.92	NGD

High negative correlations

GGB	- 0.56	EXP
GGB	- 0.52	BTG
GGB	- 0.4	OR
EXP	- 0.25	HL
TX	- 0.24	EXP
TX	- 0.2	BTG

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	1.59	(0.02)	0.00	0.04	1.87	(1.71)	3.89	(3.60)	9.51
NGD	2.72	0.24	0.07	0.20	3.55	(2.82)	6.67	(5.93)	19.38
SBSW	3.05	0.40	0.09	0.43	4.25	(3.34)	6.04	(7.52)	18.90
BTG	2.52	(0.17)	0.00	(0.06)	0.00	0.00	4.94	(5.91)	16.10
EGO	2.24	0.29	0.08	0.36	3.05	(2.39)	5.65	(5.53)	16.16
HL	3.62	0.68	0.17	0.45	3.79	(4.05)	8.21	(6.38)	23.10
OR	1.86	(0.19)	0.00	(0.43)	0.00	0.00	3.46	(5.17)	12.73
EXP	1.32	(0.21)	0.00	(0.11)	0.00	0.00	3.56	(2.59)	11.98
TX	1.33	0.15	0.10	0.17	1.40	(1.54)	3.19	(2.64)	8.99
GGB	1.50	0.25	0.14	0.23	1.61	(1.78)	2.89	(2.65)	11.29

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