IAMGold Correlations

Stocks . USA . 
Stock . IAMGold
IAG Stock  USD 5.77  0.01  0.17%   
The current 90-days correlation between IAMGold and New Gold is -0.08 (i.e., Good 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

Average diversification

The correlation between IAMGold and DJI is 0.11 (i.e., Average 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.
  
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

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  0.61CDE Coeur MiningPairCorr
  0.9HMY Harmony Gold Mining Earnings Call TodayPairCorr
  0.82IDR Idaho Strategic ResourcesPairCorr
  0.8GROY Gold Royalty CorpPairCorr
  0.86SAND Sandstorm GoldPairCorr
  0.92AU AngloGold Ashanti plcPairCorr

Moving against IAMGold Stock

  0.57SIM Grupo Simec SABPairCorr
  0.47WS Worthington SteelPairCorr
  0.46DOW Dow IncPairCorr
  0.45HUN HuntsmanPairCorr
  0.42EGO Eldorado Gold CorpPairCorr
  0.41PKX POSCO HoldingsPairCorr
  0.4AA Alcoa CorpPairCorr
  0.7ZKIN ZK InternationalPairCorr
  0.62EU enCore Energy CorpPairCorr
  0.6VHI Valhi Inc Earnings Call This WeekPairCorr
  0.58ASTL Algoma Steel GroupPairCorr
  0.51CSTM Constellium Nv TrendingPairCorr
  0.42TROX Tronox Holdings PLCPairCorr
  0.35FF FutureFuel CorpPairCorr

Related Correlations Analysis

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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   
GLDG
+ 0.81
GAU
IAG
+ 0.8
NGD
NGD
+ 0.7
FTCO
IAG
+ 0.65
FTCO
GLDG
+ 0.38
FTCO
GAU
+ 0.27
FTCO
  
High negative correlations   
IAG
- 0.25
GAU
IAG
- 0.12
GLDG
GAU
- 0.05
NGD

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.

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