IGM Financial Correlations
IGIFF Stock | USD 25.91 0.46 1.81% |
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.
Average diversification
The correlation between IGM Financial and NYA is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IGM Financial and NYA in the same portfolio, assuming nothing else is changed.
IGM |
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.
Moving together with IGM Pink Sheet
0.7 | LCID | Lucid Group Earnings Call This Week | PairCorr |
0.75 | NIO | Nio Class A Trending | PairCorr |
0.64 | PLUG | Plug Power Aggressive Push | PairCorr |
0.64 | JNJ | Johnson Johnson Aggressive Push | PairCorr |
0.73 | MCD | McDonalds Sell-off Trend | PairCorr |
Moving against IGM Pink Sheet
0.75 | XOM | Exxon Mobil Corp Financial Report 26th of July 2024 | PairCorr |
0.69 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
0.67 | MMM | 3M Company Financial Report 23rd of July 2024 | PairCorr |
0.66 | CAT | Caterpillar Financial Report 6th of August 2024 | PairCorr |
0.61 | CVX | Chevron Corp Financial Report 26th of July 2024 | PairCorr |
0.54 | MPW | Medical Properties Trust Earnings Call This Week | PairCorr |
0.52 | BAC | Bank of America Sell-off Trend | PairCorr |
0.51 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
0.42 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
Related Correlations Analysis
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between IGM Pink Sheet performing well and IGM Financial 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 IGM Financial'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
RAND | 0.87 | 0.13 | 0.08 | 4.10 | 0.79 | 2.40 | 5.44 | |||
FFXDF | 0.86 | (0.01) | 0.00 | 0.15 | 0.00 | 1.92 | 9.74 | |||
NOAH | 2.31 | 0.08 | 0.01 | (0.24) | 2.47 | 5.95 | 22.76 | |||
PEO | 0.71 | 0.19 | 0.17 | 1.17 | 0.64 | 1.68 | 4.76 | |||
BSIG | 1.05 | (0.03) | (0.02) | 0.01 | 1.55 | 2.86 | 12.12 | |||
MHD | 0.43 | (0.04) | 0.00 | (0.07) | 0.00 | 1.09 | 2.78 | |||
JHI | 0.31 | 0.05 | 0.00 | (0.55) | 0.29 | 0.62 | 1.92 | |||
KTF | 0.45 | 0.09 | 0.07 | 1.11 | 0.44 | 0.79 | 8.06 | |||
MFM | 0.47 | (0.02) | 0.00 | (0.21) | 0.00 | 0.96 | 2.90 | |||
AMG | 0.84 | 0.04 | 0.04 | 0.09 | 0.91 | 1.70 | 7.25 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in IGM Financial 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?
Run Idea Breakdown Now
Idea BreakdownAnalyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |
All Next | Launch Module |
IGM Financial Corporate Directors
IGM Financial corporate directors refer to members of an IGM Financial board of directors. The board of directors generally takes responsibility for the IGM Financial'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 IGM Financial's board members must vote for the resolution. The IGM Financial board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Sharon Hodgson | Independent Director | Profile | |
Sharon MacLeod | Independent Director | Profile | |
Andre Desmarais | Independent Director | Profile | |
Claude Genereux | Director | Profile |
Already Invested in IGM Financial?
The danger of trading IGM Financial 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 IGM Financial 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 IGM Financial. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile IGM Financial 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.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IGM Financial. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in census. Note that the IGM Financial information on this page should be used as a complementary analysis to other IGM Financial'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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Complementary Tools for IGM Pink Sheet analysis
When running IGM Financial's price analysis, check to measure IGM Financial'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 IGM Financial is operating at the current time. Most of IGM Financial's value examination focuses on studying past and present price action to predict the probability of IGM Financial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move IGM Financial's price. Additionally, you may evaluate how the addition of IGM Financial to your portfolios can decrease your overall portfolio volatility.
Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |