IAMGold Correlations

IAG Stock

USD 6.90 0.12 1.71%

The current 90-days correlation between IAMGold and Coeur Mining is 0.44 (i.e., Very weak 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

Very good diversification

The correlation between IAMGold and DJI is -0.3 (i.e., Very good 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

0.71	B	Barrick Mining Earnings Call This Week	Pair Corr
0.74	EGO	Eldorado Gold Corp	Pair Corr
0.64	HL	Hecla Mining	Pair Corr

Moving against IAMGold Stock

0.49	SID	Companhia Siderurgica	Pair Corr
0.44	ZKIN	ZK International	Pair Corr
0.34	DOW	Dow Inc Earnings Call This Week	Pair Corr
0.33	MT	ArcelorMittal SA ADR	Pair Corr
0.31	CX	Cemex SAB de Earnings Call This Week	Pair Corr
0.31	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	AU	CDE	EGO	GFI	HMY	KGC	NGD
AU		0.79	0.88	0.88	-0.3	0.88	0.83	AU
CDE	0.79		0.65	0.55	-0.7	0.6	0.89	CDE
EGO	0.88	0.65		0.93	-0.13	0.89	0.78	EGO
GFI	0.88	0.55	0.93		0.04	0.88	0.65	GFI
HMY	-0.3	-0.7	-0.13	0.04		-0.19	-0.62	HMY
KGC	0.88	0.6	0.89	0.88	-0.19		0.75	KGC
NGD	0.83	0.89	0.78	0.65	-0.62	0.75		NGD
	AU	CDE	EGO	GFI	HMY	KGC	NGD

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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

GFI	+ 0.93	EGO
NGD	+ 0.89	CDE
KGC	+ 0.89	EGO
EGO	+ 0.88	AU
GFI	+ 0.88	AU
KGC	+ 0.88	AU

High negative correlations

HMY	- 0.7	CDE
NGD	- 0.62	HMY
HMY	- 0.3	AU
KGC	- 0.19	HMY
HMY	- 0.13	EGO

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
AU	2.53	0.41	0.03	(0.16)	3.20	(2.67)	4.87	(5.52)	17.34
CDE	2.53	0.72	0.23	(2.11)	1.90	(3.16)	6.24	(3.44)	28.49
EGO	1.69	0.19	(0.03)	(0.04)	2.40	(1.65)	4.10	(3.00)	16.24
GFI	2.19	0.25	(0.02)	(0.05)	3.43	(1.93)	3.79	(5.09)	18.39
HMY	2.50	(0.06)	0.00	0.17	0.00	0.00	4.34	(5.76)	16.37
KGC	1.87	0.24	(0.01)	(0.11)	2.74	(1.94)	3.53	(5.36)	13.81
NGD	2.33	0.48	0.07	(0.27)	2.55	(2.81)	4.48	(3.65)	27.66

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