America Movil Correlations

AMX Stock

USD 14.09 0.08 0.56%

The current 90-days correlation between America Movil SAB and Telefonica SA ADR is 0.02 (i.e., Significant diversification). The correlation of America Movil 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.

America Movil Correlation With Market

Good diversification

The correlation between America Movil SAB and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding America Movil SAB and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in America Movil SAB. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with America Stock

0.62	IQ	iQIYI Inc	Pair Corr
0.72	TV	Grupo Televisa SAB	Pair Corr
0.72	WB	Weibo Corp	Pair Corr
0.61	BATRK	Atlanta Braves Holdings,	Pair Corr

Moving against America Stock

0.34	TC	TuanChe ADR	Pair Corr
0.31	WBTN	WEBTOON Entertainment	Pair Corr

Related Correlations Analysis

	VIV	TEF	TIMB	TLK	SKM	VOD	ORAN	KT	TV	LBRDK
VIV		0.42	0.65	-0.35	0.41	0.27	0.0	0.76	0.57	0.47	VIV
TEF	0.42		0.71	-0.8	0.26	0.86	0.0	0.67	0.17	0.7	TEF
TIMB	0.65	0.71		-0.58	0.54	0.49	0.0	0.63	0.45	0.7	TIMB
TLK	-0.35	-0.8	-0.58		-0.04	-0.66	0.0	-0.47	-0.24	-0.48	TLK
SKM	0.41	0.26	0.54	-0.04		-0.06	0.0	0.3	0.38	0.4	SKM
VOD	0.27	0.86	0.49	-0.66	-0.06		0.0	0.69	-0.17	0.6	VOD
ORAN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ORAN
KT	0.76	0.67	0.63	-0.47	0.3	0.69	0.0		0.21	0.69	KT
TV	0.57	0.17	0.45	-0.24	0.38	-0.17	0.0	0.21		0.39	TV
LBRDK	0.47	0.7	0.7	-0.48	0.4	0.6	0.0	0.69	0.39		LBRDK
	VIV	TEF	TIMB	TLK	SKM	VOD	ORAN	KT	TV	LBRDK

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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

VOD	+ 0.86	TEF
KT	+ 0.76	VIV
TIMB	+ 0.71	TEF
LBRDK	+ 0.7	TEF
LBRDK	+ 0.7	TIMB
KT	+ 0.69	VOD

High negative correlations

TLK	- 0.8	TEF
VOD	- 0.66	TLK
TLK	- 0.58	TIMB
LBRDK	- 0.48	TLK
KT	- 0.47	TLK
TLK	- 0.35	VIV

Risk-Adjusted Indicators

There is a big difference between America Stock performing well and America Movil 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 America Movil'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
VIV	1.51	0.17	0.10	0.28	1.96	(1.66)	3.51	(3.16)	11.36
TEF	0.82	0.13	0.18	(8.59)	0.92	(0.90)	1.83	(1.48)	3.76
TIMB	1.41	0.47	0.23	0.81	1.63	(1.53)	3.45	(2.54)	14.05
TLK	1.72	(0.22)	0.00	(0.74)	0.00	0.00	3.91	(4.29)	11.21
SKM	0.92	(0.03)	0.00	(0.12)	0.00	0.00	2.24	(1.72)	5.06
VOD	1.06	0.19	0.18	0.86	1.09	(1.31)	2.79	(2.33)	6.88
ORAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KT	1.02	0.18	0.17	0.22	0.96	(1.10)	2.04	(1.90)	6.92
TV	2.11	(0.16)	0.00	(0.26)	0.00	0.00	4.21	(5.03)	14.97
LBRDK	1.38	0.08	0.05	0.04	1.95	(1.38)	2.68	(3.28)	9.15

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