IGM Financial Correlations

IGM Stock

CAD 47.31 0.26 0.55%

The current 90-days correlation between IGM Financial and NVIDIA CDR is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IGM Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IGM Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IGM Financial Correlation With Market

Significant diversification

The correlation between IGM Financial and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IGM Financial and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IGM Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IGM Financial when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IGM Financial - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling IGM Financial to buy it.

Moving together with IGM Stock

0.86	ECN	ECN Capital Corp	Pair Corr
0.9	NXE	NexGen Energy	Pair Corr

Moving against IGM Stock

0.89

VCM

Vecima Networks

Pair Corr

Related Correlations Analysis

	NVDA	AAPL	MSFT	AMZN	META	TSLA	GOOG	XOM	JPM	AVGO
NVDA		0.48	0.01	0.72	0.67	0.62	0.81	0.64	0.76	0.64	NVDA
AAPL	0.48		0.17	0.1	0.48	0.07	0.26	0.45	0.28	0.49	AAPL
MSFT	0.01	0.17		0.26	0.26	0.05	0.04	-0.23	-0.23	0.37	MSFT
AMZN	0.72	0.1	0.26		0.57	0.83	0.77	0.36	0.67	0.49	AMZN
META	0.67	0.48	0.26	0.57		0.39	0.61	0.69	0.25	0.89	META
TSLA	0.62	0.07	0.05	0.83	0.39		0.7	0.4	0.75	0.21	TSLA
GOOG	0.81	0.26	0.04	0.77	0.61	0.7		0.56	0.7	0.53	GOOG
XOM	0.64	0.45	-0.23	0.36	0.69	0.4	0.56		0.49	0.56	XOM
JPM	0.76	0.28	-0.23	0.67	0.25	0.75	0.7	0.49		0.15	JPM
AVGO	0.64	0.49	0.37	0.49	0.89	0.21	0.53	0.56	0.15		AVGO
	NVDA	AAPL	MSFT	AMZN	META	TSLA	GOOG	XOM	JPM	AVGO

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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

AVGO	+ 0.89	META
TSLA	+ 0.83	AMZN
GOOG	+ 0.81	NVDA
GOOG	+ 0.77	AMZN
JPM	+ 0.76	NVDA
JPM	+ 0.75	TSLA

High negative correlations

JPM	- 0.23	MSFT
XOM	- 0.23	MSFT

Risk-Adjusted Indicators

There is a big difference between IGM Stock performing well and IGM Financial 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 IGM Financial'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
NVDA	2.17	0.13	0.02	0.53	2.92	(2.22)	4.21	(4.24)	13.95
AAPL	0.90	0.04	(0.05)	0.75	1.20	(0.93)	2.09	(2.37)	6.39
MSFT	0.86	(0.03)	(0.07)	0.03	1.48	(0.81)	2.03	(1.83)	8.19
AMZN	1.40	0.16	0.05	0.60	1.52	(1.57)	2.80	(2.97)	10.08
META	1.06	0.07	(0.02)	0.63	1.43	(1.16)	2.49	(2.81)	8.24
TSLA	3.16	0.71	0.21	1.04	2.68	(3.88)	8.04	(5.68)	27.76
GOOG	1.21	0.01	(0.04)	0.17	1.86	(1.07)	2.16	(2.52)	8.60
XOM	1.06	0.06	(0.03)	0.92	1.27	(1.14)	2.20	(2.32)	6.39
JPM	1.12	0.11	0.07	0.22	1.40	(1.15)	1.88	(2.18)	16.24
AVGO	1.94	0.01	(0.02)	0.14	2.74	(2.07)	4.00	(3.88)	13.89

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Our tools can tell you how much better you can do entering a position in IGM Financial without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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