IAMGold Correlations
| IAG Stock | USD 4.38 0.17 4.04% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IAMGold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IAMGold 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.
Very weak diversification
The correlation between IAMGold and NYA is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IAMGold and NYA in the same portfolio, assuming nothing else is changed.
IAMGold |
The ability to find closely correlated positions to IAMGold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IAMGold 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 IAMGold - 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 IAMGold to buy it.
Moving together with IAMGold Stock
| 0.93 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
| 0.86 | DC | Dakota Gold Corp | PairCorr |
| 0.87 | NG | NovaGold Resources | PairCorr |
| 0.77 | OR | Osisko Gold Ro | PairCorr |
| 0.94 | SA | Seabridge Gold Financial Report 20th of May 2024 | PairCorr |
| 0.98 | AEM | Agnico Eagle Mines | PairCorr |
| 0.97 | AGI | Alamos Gold | PairCorr |
| 0.62 | BTG | B2Gold Corp | PairCorr |
| 0.96 | CDE | Coeur Mining | PairCorr |
| 0.84 | DRD | DRDGOLD Limited ADR | PairCorr |
| 0.93 | EGO | Eldorado Gold Corp | PairCorr |
| 0.79 | EQX | Equinox Gold Corp | PairCorr |
| 0.95 | FNV | Franco Nevada | PairCorr |
| 0.94 | FSM | Fortuna Silver Mines Financial Report 20th of May 2024 | PairCorr |
| 0.95 | GAU | Galiano Gold | PairCorr |
| 0.91 | GFI | Gold Fields | PairCorr |
| 0.95 | HMY | Harmony Gold Mining | PairCorr |
Moving against IAMGold Stock
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EGO | 1.80 | 0.35 | 0.11 | 0.84 | 2.67 | 3.87 | 11.02 | |||
| CDE | 3.80 | 0.81 | 0.28 | 0.25 | 3.40 | 10.56 | 20.15 | |||
| GORO | 5.74 | 0.94 | 0.14 | 0.50 | 5.57 | 14.29 | 40.00 | |||
| AGI | 1.55 | 0.26 | 0.15 | 0.22 | 1.69 | 3.85 | 11.71 | |||
| AEM | 1.33 | 0.48 | 0.29 | 0.46 | 1.24 | 3.11 | 8.45 | |||
| BTG | 2.14 | (0.02) | 0.01 | 0.06 | 2.34 | 4.38 | 13.01 | |||
| PAAS | 2.27 | 0.54 | 0.27 | 0.32 | 1.89 | 5.03 | 12.09 | |||
| GFI | 2.16 | 0.24 | 0.08 | 0.21 | 3.07 | 4.89 | 16.01 | |||
| AU | 2.30 | 0.44 | 0.16 | 0.45 | 2.51 | 4.93 | 15.81 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IAMGold 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?
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IAMGold Corporate Directors
IAMGold corporate directors refer to members of an IAMGold board of directors. The board of directors generally takes responsibility for the IAMGold's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of IAMGold's board members must vote for the resolution. The IAMGold board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| John Caldwell | Independent Director | Profile | |
| Richard Hall | Independent Director | Profile | |
| Timothy Snider | Independent Director | Profile | |
| Ronald Gagel | Independent Director | Profile |
Already Invested in IAMGold?
The danger of trading IAMGold is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of IAMGold is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than IAMGold. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile IAMGold is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether IAMGold is a strong investment it is important to analyze IAMGold's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact IAMGold's future performance. For an informed investment choice regarding IAMGold Stock, refer to the following important reports: 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 tightly coupled 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.Note that the IAMGold information on this page should be used as a complementary analysis to other IAMGold's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Complementary Tools for IAMGold Stock analysis
When running IAMGold's price analysis, check to measure IAMGold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy IAMGold is operating at the current time. Most of IAMGold's value examination focuses on studying past and present price action to predict the probability of IAMGold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move IAMGold's price. Additionally, you may evaluate how the addition of IAMGold to your portfolios can decrease your overall portfolio volatility.
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Is IAMGold's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of IAMGold. If investors know IAMGold will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about IAMGold listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of IAMGold is measured differently than its book value, which is the value of IAMGold that is recorded on the company's balance sheet. Investors also form their own opinion of IAMGold's value that differs from its market value or its book value, called intrinsic value, which is IAMGold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because IAMGold's market value can be influenced by many factors that don't directly affect IAMGold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between IAMGold's value and its price as these two are different measures arrived at by different means. Investors typically determine if IAMGold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IAMGold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.