Sendas Distribuidora Correlations

Stocks . Brazil . 
Stock . Sendas Distribuidora SA
ASAI3 Stock  BRL 7.73  0.18  2.38%   
The current 90-days correlation between Sendas Distribuidora and Companhia Brasileira de is 0.43 (i.e., Very weak diversification). The correlation of Sendas Distribuidora 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.

Sendas Distribuidora Correlation With Market

Weak diversification

The correlation between Sendas Distribuidora SA and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sendas Distribuidora SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sendas Distribuidora could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sendas Distribuidora 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 Sendas Distribuidora - 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 Sendas Distribuidora SA to buy it.

Moving together with Sendas Stock

  0.71SBUB34 StarbucksPairCorr
  0.61TCSA3 Tecnisa SAPairCorr
  0.71PFRM3 Profarma DistribuidoraPairCorr
  0.78BRSR6 Banco do EstadoPairCorr
  0.79BGIP4 Banco do EstadoPairCorr
  0.83CCRO3F CCRO3FPairCorr
  0.91CCRO3 CCR SAPairCorr
  0.64AMGN34 Amgen IncPairCorr
  0.62VLID3 Valid Solues SAPairCorr
  0.8GEOO34 General ElectricPairCorr
  0.73VULC3 Vulcabras AzaleiaPairCorr
  0.85BPAN4 Banco Pan SAPairCorr
  0.76LEVE3 MAHLE Metal LevePairCorr
  0.95SBSP3 Companhia de SaneamentoPairCorr
  0.95ITUB3 Ita Unibanco Holding SplitPairCorr
  0.77CPFE3 CPFL Energia SAPairCorr
  0.76BAZA3F BAZA3FPairCorr
  0.79MTSA4 METISA MetalrgicaPairCorr
  0.81CTKA3 Karsten SAPairCorr
  0.85BROF11 Brpr Corporate OfficesPairCorr
  0.86CEBR3 Companhia EnergticaPairCorr
  0.93CPLE3 Companhia ParanaensePairCorr
  0.88BALM3 Baumer SAPairCorr
  0.87HYPE3 Hypera SAPairCorr

Moving against Sendas Stock

  0.8UPSS34 United Parcel ServicePairCorr
  0.69TGTB34 TargetPairCorr
  0.57AMZO34 Amazon IncPairCorr
  0.56TMCO34 Toyota MotorPairCorr
  0.54HOME34 Home DepotPairCorr

Related Correlations Analysis

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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   
PETZ3
+ 0.5
PCAR3
NTCO3
+ 0.27
CRFB3
AMER3
+ 0.25
NTCO3
PETZ3
+ 0.16
CRFB3
CRFB3
+ 0.09
PCAR3
  
High negative correlations   
AMER3
- 0.5
PCAR3
NTCO3
- 0.38
PETZ3
AMER3
- 0.18
CRFB3
AMER3
- 0.12
PETZ3
NTCO3
- 0.06
PCAR3

Risk-Adjusted Indicators

There is a big difference between Sendas Stock performing well and Sendas Distribuidora 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 Sendas Distribuidora'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sendas Distribuidora 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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Sendas Distribuidora Corporate Management

Elected by the shareholders, the Sendas Distribuidora's board of directors comprises two types of representatives: Sendas Distribuidora inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sendas. The board's role is to monitor Sendas Distribuidora's management team and ensure that shareholders' interests are well served. Sendas Distribuidora'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, Sendas Distribuidora's outside directors are responsible for providing unbiased perspectives on the board's policies.
Belmiro GomesMember CEOProfile
Anderson CastilhoCOO BoardProfile
Gabrielle HeluInvestor BoardProfile
Wlamir AnjosChief BoardProfile
Daniela PapaCFO BoardProfile
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