IGO Correlations

IPGDF Stock

USD 6.00 0.00 0.00%

The current 90-days correlation between IGO Limited and Iluka Resources Ltd is 0.1 (i.e., Average diversification). The correlation of IGO 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.

IGO Correlation With Market

Very poor diversification

The correlation between IGO Limited and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IGO Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IGO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IGO 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 IGO - 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 IGO Limited to buy it.

Moving together with IGO Pink Sheet

0.82	BHPLF	BHP Group Limited	Pair Corr
0.88	RIO	Rio Tinto ADR Earnings Call This Week	Pair Corr
0.84	BHP	BHP Group Limited	Pair Corr
0.86	RTNTF	Rio Tinto Group Earnings Call This Week	Pair Corr
0.89	RTPPF	Rio Tinto Group Earnings Call This Week	Pair Corr
0.89	GLCNF	Glencore PLC Earnings Call Tomorrow	Pair Corr
0.89	GLNCY	Glencore PLC ADR Earnings Call Tomorrow	Pair Corr
0.85	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.77	UMAC	Unusual Machines	Pair Corr
0.82	SLSR	Solaris Resources	Pair Corr
0.7	MTGRF	Mount Gibson Iron	Pair Corr
0.64	GAYMF	Galway Metals	Pair Corr
0.8	FRSB	First Resource Bank	Pair Corr
0.72	INTC	Intel	Pair Corr
0.64	NTZ	Natuzzi SpA	Pair Corr
0.75	JOE	St Joe Company	Pair Corr
0.84	BLAGF	Blue Lagoon Resources	Pair Corr

Moving against IGO Pink Sheet

0.83	PBCRY	Bank Central Asia	Pair Corr
0.55	PBCRF	PT Bank Central	Pair Corr
0.63	AFIIQ	Armstrong Flooring	Pair Corr
0.39	WELL	Welltower Earnings Call Today	Pair Corr

Related Correlations Analysis

	ILKAY	ILKAF	PTNDY	MFRVF	CHZQ	LINRF	MIMTF	CYLYF	NICMF	KPLUF
ILKAY		0.96	-0.11	-0.45	0.0	0.34	-0.01	-0.13	-0.03	-0.18	ILKAY
ILKAF	0.96		-0.18	-0.44	0.0	0.36	-0.01	-0.15	-0.02	-0.18	ILKAF
PTNDY	-0.11	-0.18		0.27	0.0	-0.04	0.49	-0.17	0.24	0.38	PTNDY
MFRVF	-0.45	-0.44	0.27		0.0	0.51	0.75	-0.69	0.78	0.85	MFRVF
CHZQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CHZQ
LINRF	0.34	0.36	-0.04	0.51	0.0		0.68	-0.87	0.8	0.58	LINRF
MIMTF	-0.01	-0.01	0.49	0.75	0.0	0.68		-0.88	0.83	0.8	MIMTF
CYLYF	-0.13	-0.15	-0.17	-0.69	0.0	-0.87	-0.88		-0.85	-0.75	CYLYF
NICMF	-0.03	-0.02	0.24	0.78	0.0	0.8	0.83	-0.85		0.8	NICMF
KPLUF	-0.18	-0.18	0.38	0.85	0.0	0.58	0.8	-0.75	0.8		KPLUF
	ILKAY	ILKAF	PTNDY	MFRVF	CHZQ	LINRF	MIMTF	CYLYF	NICMF	KPLUF

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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

ILKAF	+ 0.96	ILKAY
KPLUF	+ 0.85	MFRVF
NICMF	+ 0.83	MIMTF
NICMF	+ 0.8	LINRF
KPLUF	+ 0.8	MIMTF
KPLUF	+ 0.8	NICMF

High negative correlations

CYLYF	- 0.88	MIMTF
CYLYF	- 0.87	LINRF
NICMF	- 0.85	CYLYF
KPLUF	- 0.75	CYLYF
CYLYF	- 0.69	MFRVF
MFRVF	- 0.45	ILKAY

Risk-Adjusted Indicators

There is a big difference between IGO Pink Sheet performing well and IGO 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 IGO'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
ILKAY	2.97	(0.06)	0.00	0.69	0.00	0.00	6.67	(5.34)	21.12
ILKAF	2.92	(0.11)	0.00	(5.47)	0.00	0.00	5.57	(5.77)	23.10
PTNDY	2.25	0.89	0.00	39.65	0.00	0.00	0.00	0.00	69.40
MFRVF	1.15	0.61	0.00	(1.22)	0.00	0.00	0.00	0.00	25.00
CHZQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LINRF	5.27	0.89	0.12	1.42	5.95	(6.72)	12.22	(8.51)	52.39
MIMTF	2.10	1.01	0.00	0.83	0.00	0.00	0.00	0.00	34.67
CYLYF	2.56	(1.20)	0.00	0.70	0.00	0.00	0.00	0.00	85.71
NICMF	2.56	0.75	0.12	2.03	2.30	(5.23)	9.09	(6.25)	18.33
KPLUF	0.87	0.33	0.00	(0.53)	0.00	0.00	4.24	0.00	8.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in IGO 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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IGO Corporate Management

LLB BA	Chief Officer	Profile
ACA AGIA	Chief Officer	Profile
Sc CAHRI	Chief Officer	Profile
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Matt MAIG	Acting Officer	Profile

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