Grupo Aval Correlations

6GAA Stock

EUR 1.98 0.04 2.06%

The current 90-days correlation between Grupo Aval Acciones and Spirent Communications plc is 0.29 (i.e., Modest diversification). The correlation of Grupo Aval 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.

Grupo Aval Correlation With Market

Modest diversification

The correlation between Grupo Aval Acciones and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Aval Acciones and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Grupo Aval could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grupo Aval 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 Grupo Aval - 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 Grupo Aval Acciones to buy it.

Moving together with Grupo Stock

0.82	BBK	Truist Financial	Pair Corr
0.67	OCBB	OVERSEA CHINUNSPADR2	Pair Corr
0.65	OCBA	Oversea Chinese Banking	Pair Corr
0.72	UOB0	UTD OV BK	Pair Corr
0.62	SK3	Smurfit Kappa Group	Pair Corr

Moving against Grupo Stock

0.66	TG4	Oxurion NV	Pair Corr
0.56	SEBA	Skandinaviska Enskilda	Pair Corr
0.34	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	51KB	6IC	472	CHWD	EV9	BW8	ISHA	COA1
51KB		0.59	-0.67	0.59	0.88	-0.17	0.62	-0.45	51KB
6IC	0.59		-0.21	0.27	0.6	-0.15	0.27	0.13	6IC
472	-0.67	-0.21		-0.2	-0.84	0.06	-0.83	0.6	472
CHWD	0.59	0.27	-0.2		0.38	-0.22	0.14	-0.08	CHWD
EV9	0.88	0.6	-0.84	0.38		-0.09	0.82	-0.49	EV9
BW8	-0.17	-0.15	0.06	-0.22	-0.09		-0.16	-0.27	BW8
ISHA	0.62	0.27	-0.83	0.14	0.82	-0.16		-0.5	ISHA
COA1	-0.45	0.13	0.6	-0.08	-0.49	-0.27	-0.5		COA1
	51KB	6IC	472	CHWD	EV9	BW8	ISHA	COA1

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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

EV9	+ 0.88	51KB
ISHA	+ 0.82	EV9
ISHA	+ 0.62	51KB
EV9	+ 0.6	6IC
COA1	+ 0.6	472
6IC	+ 0.59	51KB

High negative correlations

EV9	- 0.84	472
ISHA	- 0.83	472
472	- 0.67	51KB
COA1	- 0.5	ISHA
COA1	- 0.49	EV9
COA1	- 0.45	51KB

Risk-Adjusted Indicators

There is a big difference between Grupo Stock performing well and Grupo Aval 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 Grupo Aval'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
51KB	2.63	0.53	0.18	0.43	2.82	(3.01)	5.66	(5.59)	18.85
6IC	2.31	0.32	0.07	6.82	2.64	(2.43)	4.57	(4.50)	22.12
472	1.33	(0.13)	0.00	(0.24)	0.00	0.00	2.60	(2.57)	8.06
CHWD	0.70	0.06	(0.05)	(6.36)	0.93	(0.95)	1.16	(1.15)	7.89
EV9	2.17	0.51	0.12	(1.43)	2.35	(3.04)	5.05	(3.89)	17.95
BW8	0.70	(0.06)	0.00	(0.07)	0.00	0.00	1.94	(0.99)	3.92
ISHA	1.73	0.15	0.01	3.65	2.16	(2.27)	4.22	(4.19)	12.64
COA1	0.48	0.03	0.00	(0.05)	0.00	0.00	0.00	0.00	16.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in Grupo Aval 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.

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Grupo Aval Corporate Management

Elected by the shareholders, the Grupo Aval's board of directors comprises two types of representatives: Grupo Aval inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Grupo. The board's role is to monitor Grupo Aval's management team and ensure that shareholders' interests are well served. Grupo Aval's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Grupo Aval's outside directors are responsible for providing unbiased perspectives on the board's policies.

Rafael Torres	Chief Control	Profile
Mara Florez	VP Accounting	Profile
Luz Hurtado	Chief Officer	Profile
Luis Gutierrez	President	Profile
Alejandro Jaramillo	Pres Director	Profile
Rodolfo Borda	Chief Technology	Profile
Diego Saravia	Chief Officer	Profile

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