The two components of the binary system includes a K-type giant star and a G-type main sequence star. The primary star is estimated to be 1.8 times as massive and 13 times the diameter of the Sun. The secondary star is estimated to be similar to the Sun in size and mass. They orbit their common barycenter in a period precisely estimated to be 24.64877 days.
The variability of IM Pegasi is due to the active chromosphere of the giant primary star, which causes brightness changes of a few tenths of a magnitude as it rotates.
^ abBerdyugina, S. V.; Ilyin, I.; Tuominen, I. (1999). "The long-period RS Canum Venaticorum binary IM Pegasi. I. Orbital and stellar parameters". Astronomy and Astrophysics. 347: 932. Bibcode:1999A&A...347..932B.
^ abSamus, N. N.; Durlevich, O. V.; et al. (2009). "VizieR Online Data Catalog: General Catalogue of Variable Stars (Samus+ 2007-2013)". VizieR On-line Data Catalog: B/GCVS. Originally Published in: 2009yCat....102025S. 1. Bibcode:2009yCat....102025S.
^Karataș, Yüksel; Bilir, Selçuk; Eker, Zeki; Demircan, Osman; Liebert, James; Hawley, Suzanne L.; Fraser, Oliver J.; Covey, Kevin R.; Lowrance, Patrick; Kirkpatrick, J. Davy; Burgasser, Adam J. (2004). "Kinematics of chromospherically active binaries and evidence of an orbital period decrease in binary evolution". Monthly Notices of the Royal Astronomical Society. 349 (3): 1069–1092. arXiv:astro-ph/0404219. Bibcode:2004MNRAS.349.1069K. doi:10.1111/j.1365-2966.2004.07588.x. S2CID15290475.