Igm Financial Stock Market Value
| IGM Stock | CAD 47.05 0.14 0.30% |
| Symbol | IGM |
IGM Financial Price To Book Ratio
IGM Financial 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to IGM Financial's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of IGM Financial.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in IGM Financial on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding IGM Financial or generate 0.0% return on investment in IGM Financial over 720 days. IGM Financial is related to or competes with CI Financial, Great West, IA Financial, Power, and Canadian Western. IGM Financial Inc. operates as a wealth and asset management company in Canada More
IGM Financial Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure IGM Financial's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess IGM Financial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8242 | |||
| Information Ratio | 0.2244 | |||
| Maximum Drawdown | 4.9 | |||
| Value At Risk | (1.34) | |||
| Potential Upside | 2.05 |
IGM Financial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IGM Financial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IGM Financial's standard deviation. In reality, there are many statistical measures that can use IGM Financial historical prices to predict the future IGM Financial's volatility.| Risk Adjusted Performance | 0.2822 | |||
| Jensen Alpha | 0.3258 | |||
| Total Risk Alpha | 0.1827 | |||
| Sortino Ratio | 0.252 | |||
| Treynor Ratio | 14.79 |
IGM Financial Backtested Returns
IGM Financial appears to be very steady, given 3 months investment horizon. IGM Financial holds Efficiency (Sharpe) Ratio of 0.35, which attests that the entity had a 0.35% return per unit of volatility over the last 3 months. We have found thirty technical indicators for IGM Financial, which you can use to evaluate the volatility of the firm. Please utilize IGM Financial's risk adjusted performance of 0.2822, and Market Risk Adjusted Performance of 14.8 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, IGM Financial holds a performance score of 27. The company retains a Market Volatility (i.e., Beta) of 0.0222, which attests to not very significant fluctuations relative to the market. As returns on the market increase, IGM Financial's returns are expected to increase less than the market. However, during the bear market, the loss of holding IGM Financial is expected to be smaller as well. Please check IGM Financial's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether IGM Financial's current trending patterns will revert.
Auto-correlation | -0.7 |
Very good reverse predictability
IGM Financial has very good reverse predictability. Overlapping area represents the amount of predictability between IGM Financial time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of IGM Financial price movement. The serial correlation of -0.7 indicates that around 70.0% of current IGM Financial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.7 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 12.41 |
IGM Financial lagged returns against current returns
Autocorrelation, which is IGM Financial stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting IGM Financial's stock expected returns. We can calculate the autocorrelation of IGM Financial returns to help us make a trade decision. For example, suppose you find that IGM Financial has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
IGM Financial regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If IGM Financial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IGM Financial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IGM Financial stock over time.
Current vs Lagged Prices |
| Timeline |
IGM Financial Lagged Returns
When evaluating IGM Financial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IGM Financial stock have on its future price. IGM Financial autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, IGM Financial autocorrelation shows the relationship between IGM Financial stock current value and its past values and can show if there is a momentum factor associated with investing in IGM Financial.
Regressed Prices |
| Timeline |
Pair Trading with IGM Financial
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if IGM Financial position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in IGM Financial will appreciate offsetting losses from the drop in the long position's value.Moving against IGM Stock
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.
The correlation of IGM Financial 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for IGM Financial can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in IGM Stock
IGM Financial financial ratios help investors to determine whether IGM Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in IGM with respect to the benefits of owning IGM Financial security.