Imax Corp Correlations

IMAX Stock

USD 26.03 0.79 3.13%

The current 90-days correlation between Imax Corp and Marcus is 0.58 (i.e., Very weak diversification). The correlation of Imax Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Imax Corp Correlation With Market

Significant diversification

The correlation between Imax Corp and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imax Corp 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 Imax Corp. 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 information on how to buy Imax Stock please use our How to Invest in Imax Corp guide.

Moving together with Imax Stock

0.92	CNK	Cinemark Holdings	Pair Corr
0.76	DIS	Walt Disney Aggressive Push	Pair Corr
0.75	LYV	Live Nation Entertainment	Pair Corr
0.92	MCS	Marcus	Pair Corr
0.91	NWS	News Corp B	Pair Corr
0.77	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.61	WLY	John Wiley Sons Earnings Call This Week	Pair Corr
0.78	FWONA	Liberty Media	Pair Corr
0.7	MANU	Manchester United	Pair Corr
0.71	CMCSA	Comcast Corp Sell-off Trend	Pair Corr
0.71	MSGS	Madison Square Garden	Pair Corr
0.7	PARA	Paramount Global Class Aggressive Push	Pair Corr
0.64	LBRDA	Liberty Broadband Srs	Pair Corr
0.65	LBRDK	Liberty Broadband Srs	Pair Corr
0.89	CHTR	Charter Communications	Pair Corr
0.66	Z	Zillow Group Class	Pair Corr
0.85	DJCO	Daily Journal Corp	Pair Corr
0.93	EA	Electronic Arts	Pair Corr

Moving against Imax Stock

0.61	HUYA	HUYA Inc	Pair Corr
0.58	KUKE	Kuke Music Holding	Pair Corr
0.41	ROKU	Roku Inc	Pair Corr
0.35	IQ	iQIYI Inc Buyout Trend	Pair Corr
0.91	TC	TuanChe ADR	Pair Corr
0.81	TU	Telus Corp	Pair Corr
0.68	FENG	Phoenix New Media	Pair Corr
0.67	DLPN	Dolphin Entertainment	Pair Corr
0.57	WWRL	World Wireless Commu	Pair Corr
0.44	DRCT	Direct Digital Holdings	Pair Corr
0.44	CELJF	Cellcom Israel	Pair Corr
0.43	EVER	EverQuote Class A	Pair Corr
0.39	VZ	Verizon Communications Aggressive Push	Pair Corr
0.39	WIMI	WiMi Hologram Cloud	Pair Corr

Related Correlations Analysis

	MCS	PLAY	APE	AMCX	NWSA	FWONA	WMG	FOX	NWS	RDIB
MCS		0.76	0.88	0.21	0.83	0.84	0.76	0.93	0.91	-0.69	MCS
PLAY	0.76		0.68	-0.11	0.51	0.72	0.82	0.63	0.6	-0.62	PLAY
APE	0.88	0.68		0.15	0.7	0.79	0.8	0.84	0.81	-0.7	APE
AMCX	0.21	-0.11	0.15		0.59	0.18	-0.17	0.36	0.49	0.2	AMCX
NWSA	0.83	0.51	0.7	0.59		0.7	0.44	0.88	0.98	-0.36	NWSA
FWONA	0.84	0.72	0.79	0.18	0.7		0.72	0.83	0.78	-0.67	FWONA
WMG	0.76	0.82	0.8	-0.17	0.44	0.72		0.71	0.58	-0.82	WMG
FOX	0.93	0.63	0.84	0.36	0.88	0.83	0.71		0.94	-0.66	FOX
NWS	0.91	0.6	0.81	0.49	0.98	0.78	0.58	0.94		-0.49	NWS
RDIB	-0.69	-0.62	-0.7	0.2	-0.36	-0.67	-0.82	-0.66	-0.49		RDIB
	MCS	PLAY	APE	AMCX	NWSA	FWONA	WMG	FOX	NWS	RDIB

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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

NWS	+ 0.98	NWSA
NWS	+ 0.94	FOX
FOX	+ 0.93	MCS
NWS	+ 0.91	MCS
APE	+ 0.88	MCS
FOX	+ 0.88	NWSA

High negative correlations

RDIB	- 0.82	WMG
RDIB	- 0.7	APE
RDIB	- 0.69	MCS
RDIB	- 0.67	FWONA
RDIB	- 0.66	FOX
RDIB	- 0.62	PLAY

Risk-Adjusted Indicators

There is a big difference between Imax Stock performing well and Imax Corp 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 Imax Corp'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
MCS	1.43	0.67	0.55	1.37	0.26	(1.85)	4.35	(1.58)	12.61
PLAY	2.62	0.06	0.07	0.14	2.76	(3.11)	6.61	(4.57)	14.95
APE	2.05	0.31	0.06	(1.78)	2.33	(2.35)	4.67	(3.64)	11.21
AMCX	2.67	(0.13)	0.00	(0.18)	0.00	0.00	6.36	(5.20)	17.97
NWSA	0.88	(0.04)	(0.04)	0.07	1.22	(0.90)	1.73	(1.68)	6.51
FWONA	1.14	0.11	0.07	0.22	1.33	(1.25)	2.87	(1.69)	8.37
WMG	0.91	0.13	0.02	0.59	1.67	(0.96)	2.15	(2.03)	11.14
FOX	0.91	0.17	0.12	0.42	0.79	(1.09)	2.71	(1.49)	7.28
NWS	0.90	0.04	0.02	0.17	1.14	(1.00)	1.77	(1.64)	6.61
RDIB	4.29	(0.63)	0.00	(1.23)	0.00	0.00	7.76	(8.62)	37.87

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