IGM Financial Correlations

Stocks . Canada . 
Stock . IGM Financial
IGM Stock  CAD 67.86  1.45  2.09%   
The current 90-days correlation between IGM Financial and Onex Corp is 0.34 (i.e., Weak 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

Very poor diversification

The correlation between IGM Financial and DJI is 0.83 (i.e., Very poor 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

  0.85CTF-UN Citadel IncomePairCorr
  0.91MAXQ Maritime Launch ServicesPairCorr
  0.79BN-PFI BrookfieldPairCorr
  0.75MFC-PP Manulife Financial CorpPairCorr
  0.85BN-PC BrookfieldPairCorr
  0.91ATX ATEX ResourcesPairCorr
  0.71GLD GoldOn ResourcesPairCorr
  0.81SLF-PJ Sun Life FinancialPairCorr
  0.79PML Panoro MineralsPairCorr
  0.68NIM Nicola MiningPairCorr
  0.85GUG Gungnir ResourcesPairCorr
  0.91BPF-UN Boston Pizza RoyaltiesPairCorr
  0.64NAR North Arrow MineralsPairCorr
  0.82TOT Total Energy ServicesPairCorr
  0.89MU Micron TechnologyPairCorr
  0.83PSLV Sprott Physical SilverPairCorr
  0.87PGDC Patagonia Gold CorpPairCorr
  0.87RUP Rupert ResourcesPairCorr
  0.74TCL-A TranscontinentalPairCorr
  0.76ISO IsoEnergyPairCorr
  0.85PESO PesoramaPairCorr
  0.75AZT Aztec Minerals CorpPairCorr
  0.82TUO Teuton Resources CorpPairCorr
  0.73MOLY Greenland Resources Earnings Call TodayPairCorr
  0.82ENB-PFC Enbridge Pref 11PairCorr
  0.85CJT CargojetPairCorr
  0.69BTO B2Gold CorpPairCorr
  0.77QNC Quantum eMotion CorpPairCorr
  0.75NXR-UN Nexus Real Estate Earnings Call This WeekPairCorr
  0.62GIGA Giga Metals CorpPairCorr
  0.84TF Timbercreek FinancialPairCorr

Related Correlations Analysis


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

CYB
+ 0.9
GCG-A
GCG
+ 0.84
GCG-A
CYB
+ 0.81
GCG
OLY
+ 0.78
GCG-A
DFY
+ 0.77
X
IFC
+ 0.76
DFY
  

High negative correlations

CYB
- 0.9
IFC
OLY
- 0.8
X
IFC
- 0.78
GCG
IFC
- 0.78
GCG-A
GCG-A
- 0.76
X
OLY
- 0.7
IAG

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ONEX  1.04 (0.16) 0.00 (0.14) 0.00 
 0.00 
 1.84 
(2.82)
 9.47 
IAG  1.08 (0.14) 0.00 (0.33) 0.00 
 0.00 
 1.59 
(2.42)
 13.42 
X  1.07 (0.20) 0.00 (0.50) 0.00 
 0.00 
 2.11 
(3.03)
 10.88 
GCG-A  0.08  0.01 (0.67) 1.42  0.00 
(0.11)
 0.16 
(0.18)
 0.80 
GCG  0.11  0.00 (0.28)(0.14) 0.14 
(0.20)
 0.24 
(0.33)
 2.57 
DFY  1.11 (0.06) 0.00  0.41  0.00 
 0.00 
 2.51 
(2.38)
 8.82 
OLY  0.83  0.10  0.03  0.74  0.78 
(0.94)
 1.81 
(1.66)
 4.99 
BBUC  1.68 (0.06)(0.03) 0.01  2.20 
(1.76)
 3.44 
(3.35)
 10.74 
IFC  0.93 (0.10) 0.00  0.64  0.00 
 0.00 
 1.69 
(1.77)
 6.79 
CYB  1.08  0.16  0.08  0.39  1.23 
(1.12)
 1.97 
(1.94)
 7.25 

Be your own money manager

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.

Did you try this?

Run Portfolio Backtesting Now

   

Portfolio Backtesting

Avoid under-diversification and over-optimization by backtesting your portfolios
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2026 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY