A1ME34 Correlations

A1ME34 Stock

BRL 47.15 0.85 1.84%

The current 90-days correlation between A1ME34 and Eaton plc is 0.57 (i.e., Very weak diversification). The correlation of A1ME34 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.

A1ME34 Correlation With Market

Significant diversification

The correlation between A1ME34 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding A1ME34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to A1ME34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace A1ME34 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 A1ME34 - 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 A1ME34 to buy it.

Moving together with A1ME34 Stock

0.93	HONB34	Honeywell International	Pair Corr
0.95	E1TN34	Eaton plc	Pair Corr
0.76	C1MI34	C1MI34	Pair Corr
0.97	ARNC34	ARNC34	Pair Corr
0.72	TMCO34	Toyota Motor	Pair Corr
0.8	SNEC34	Sony Group Split	Pair Corr
0.67	TSMC34	Taiwan Semiconductor	Pair Corr
0.77	AAPL34	Apple Inc	Pair Corr
0.78	MSFT34	Microsoft	Pair Corr
0.82	JBSS3	JBS SA	Pair Corr
0.91	MRFG3	Marfrig Global Foods	Pair Corr
0.88	TSLA34	Tesla Inc	Pair Corr
0.93	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.61	A1VY34	A1VY34	Pair Corr
0.94	CAON34	Capital One Financial	Pair Corr
0.89	AMZO34	Amazon Inc	Pair Corr
0.7	ACNB34	Accenture plc	Pair Corr
0.93	SSFO34	salesforce inc	Pair Corr
0.94	A1TM34	A1TM34	Pair Corr
0.71	F1RA34	F1RA34	Pair Corr
0.9	A1VB34	AvalonBay Communities	Pair Corr
0.92	COWC34	Costco Wholesale	Pair Corr
0.84	CTKA3	Karsten SA	Pair Corr
0.93	GGBR3	Gerdau SA	Pair Corr

Moving against A1ME34 Stock

0.93	HOND34	Honda Motor	Pair Corr
0.87	INEP4	Inepar SA Indstria	Pair Corr
0.77	ITUB3	Ita Unibanco Holding	Pair Corr
0.77	ITUB4	Ita Unibanco Holding	Pair Corr
0.59	BABA34	Alibaba Group Holding	Pair Corr

Related Correlations Analysis

	HONB34	GEOO34	E1TN34	C1MI34	O1TI34	A1ME34	ARNC34	AERI3	INEP4	RCSL3
HONB34		0.22	0.92	0.82	0.63	0.93	0.95	0.04	-0.88	-0.06	HONB34
GEOO34	0.22		0.36	0.09	0.26	0.25	0.33	-0.53	-0.27	-0.22	GEOO34
E1TN34	0.92	0.36		0.76	0.71	0.95	0.97	-0.22	-0.91	-0.25	E1TN34
C1MI34	0.82	0.09	0.76		0.69	0.76	0.8	0.19	-0.64	0.17	C1MI34
O1TI34	0.63	0.26	0.71	0.69		0.53	0.66	-0.16	-0.66	-0.4	O1TI34
A1ME34	0.93	0.25	0.95	0.76	0.53		0.97	-0.11	-0.87	-0.04	A1ME34
ARNC34	0.95	0.33	0.97	0.8	0.66	0.97		-0.13	-0.89	-0.1	ARNC34
AERI3	0.04	-0.53	-0.22	0.19	-0.16	-0.11	-0.13		0.25	0.48	AERI3
INEP4	-0.88	-0.27	-0.91	-0.64	-0.66	-0.87	-0.89	0.25		0.38	INEP4
RCSL3	-0.06	-0.22	-0.25	0.17	-0.4	-0.04	-0.1	0.48	0.38		RCSL3
	HONB34	GEOO34	E1TN34	C1MI34	O1TI34	A1ME34	ARNC34	AERI3	INEP4	RCSL3

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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

ARNC34	+ 0.97	E1TN34
ARNC34	+ 0.97	A1ME34
ARNC34	+ 0.95	HONB34
A1ME34	+ 0.95	E1TN34
A1ME34	+ 0.93	HONB34
E1TN34	+ 0.92	HONB34

High negative correlations

INEP4	- 0.91	E1TN34
INEP4	- 0.89	ARNC34
INEP4	- 0.88	HONB34
INEP4	- 0.87	A1ME34
INEP4	- 0.66	O1TI34
INEP4	- 0.64	C1MI34

Risk-Adjusted Indicators

There is a big difference between A1ME34 Stock performing well and A1ME34 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 A1ME34'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
HONB34	1.08	0.35	0.15	0.85	0.70	(2.43)	4.67	(2.11)	12.13
GEOO34	1.47	0.02	0.00	0.08	2.46	(1.35)	2.70	(4.79)	11.47
E1TN34	1.12	0.32	0.24	1.03	0.64	(1.99)	3.18	(1.99)	9.96
C1MI34	1.07	0.50	0.00	(1.16)	0.00	0.00	1.15	0.00	26.25
O1TI34	0.63	0.15	0.07	(0.64)	0.61	(1.64)	1.74	(1.41)	9.48
A1ME34	0.98	0.28	0.16	2.66	0.61	(2.31)	2.91	(2.08)	15.57
ARNC34	1.27	0.40	0.22	2.26	1.07	(1.68)	3.07	(2.78)	12.40
AERI3	4.93	0.38	0.06	(0.38)	5.24	(6.16)	8.07	(10.57)	73.42
INEP4	2.81	(0.42)	0.00	0.88	0.00	0.00	8.24	(4.43)	21.03
RCSL3	3.80	(0.17)	0.00	1.76	0.00	0.00	7.58	(11.96)	31.88

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Our tools can tell you how much better you can do entering a position in A1ME34 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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