Brembo SpA Correlations

BRBOF Stock

USD 9.57 0.49 5.40%

The current 90-days correlation between Brembo SpA and ECARX Holdings Class is -0.06 (i.e., Good diversification). The correlation of Brembo SpA 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.

Brembo SpA Correlation With Market

Average diversification

The correlation between Brembo SpA and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brembo SpA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Brembo OTC Stock

0.61	BRDCF	Bridgestone	Pair Corr
0.74	BRDCY	Bridgestone Corp ADR	Pair Corr

Moving against Brembo OTC Stock

0.91	IONQ	IONQ Inc Upward Rally	Pair Corr
0.89	LUNR	Intuitive Machines	Pair Corr
0.88	FYGGY	Fuyao Glass Industry	Pair Corr
0.86	FSTF	First State Financial	Pair Corr
0.86	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.84	MBLY	Mobileye Global Class Fiscal Year End 23rd of January 2025	Pair Corr
0.81	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.75	BBAI	BigBearai Holdings	Pair Corr
0.72	APLD	Applied Blockchain	Pair Corr
0.71	AVTE	Aerovate Therapeutics	Pair Corr
0.71	SOUN	SoundHound AI Upward Rally	Pair Corr
0.69	CTTAY	Continental AG PK	Pair Corr
0.57	CTTAF	Continental Aktiengesellscha	Pair Corr
0.57	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.55	INMD	InMode	Pair Corr
0.31	DNZOF	DENSO	Pair Corr

Related Correlations Analysis

	MGDDY	BRDCY	ADNT	ECX	ALSN	APTV	LKQ	LEA	MGA
MGDDY		0.93	0.77	0.1	-0.89	0.83	0.5	0.88	-0.7	MGDDY
BRDCY	0.93		0.8	0.16	-0.86	0.87	0.4	0.87	-0.72	BRDCY
ADNT	0.77	0.8		0.18	-0.68	0.83	0.21	0.76	-0.59	ADNT
ECX	0.1	0.16	0.18		0.03	0.16	0.19	0.3	0.19	ECX
ALSN	-0.89	-0.86	-0.68	0.03		-0.88	-0.3	-0.76	0.81	ALSN
APTV	0.83	0.87	0.83	0.16	-0.88		0.29	0.87	-0.67	APTV
LKQ	0.5	0.4	0.21	0.19	-0.3	0.29		0.59	0.1	LKQ
LEA	0.88	0.87	0.76	0.3	-0.76	0.87	0.59		-0.42	LEA
MGA	-0.7	-0.72	-0.59	0.19	0.81	-0.67	0.1	-0.42		MGA
	MGDDY	BRDCY	ADNT	ECX	ALSN	APTV	LKQ	LEA	MGA

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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

BRDCY	+ 0.93	MGDDY
LEA	+ 0.88	MGDDY
APTV	+ 0.87	BRDCY
LEA	+ 0.87	BRDCY
LEA	+ 0.87	APTV
APTV	+ 0.83	MGDDY

High negative correlations

ALSN	- 0.89	MGDDY
APTV	- 0.88	ALSN
ALSN	- 0.86	BRDCY
LEA	- 0.76	ALSN
MGA	- 0.72	BRDCY
MGA	- 0.7	MGDDY

Risk-Adjusted Indicators

There is a big difference between Brembo OTC Stock performing well and Brembo SpA OTC Stock 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 Brembo SpA'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
MGDDY	1.12	(0.22)	0.00	(5.58)	0.00	0.00	2.03	(2.57)	6.89
BRDCY	0.73	(0.14)	0.00	(0.46)	0.00	0.00	1.22	(1.83)	4.82
ADNT	2.01	(0.07)	0.00	0.51	0.00	0.00	4.15	(4.21)	10.66
ECX	2.99	0.22	0.04	0.51	3.97	(3.36)	7.53	(6.95)	27.99
ALSN	1.15	0.32	0.32	0.33	0.58	(1.35)	2.73	(1.47)	11.01
APTV	1.66	(0.25)	0.00	(0.13)	0.00	0.00	2.67	(3.00)	20.63
LKQ	1.03	(0.09)	(0.08)	(0.01)	1.35	(1.07)	2.60	(2.09)	7.01
LEA	1.44	(0.15)	0.00	(0.03)	0.00	0.00	3.00	(3.16)	9.75
MGA	1.47	0.12	0.05	0.21	2.05	(1.46)	3.06	(3.95)	11.56

Be your own money manager

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