BRF SA Correlations

BRFS Stock

USD 4.77 0.17 3.70%

The current 90-days correlation between BRF SA ADR and Marfrig Global Foods is -0.13 (i.e., Good diversification). The correlation of BRF SA 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.

BRF SA Correlation With Market

Significant diversification

The correlation between BRF SA ADR 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 BRF SA ADR 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 BRF SA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with BRF Stock

0.65

BRID

Bridgford Foods

Pair Corr

Moving against BRF Stock

0.4	JZ	Jianzhi Education	Pair Corr
0.32	YI	111 Inc	Pair Corr
0.44	VSTA	Vasta Platform	Pair Corr
0.41	BRBMF	Big Rock Brewery	Pair Corr

Related Correlations Analysis

	MRRTY	PPC	JBSS	SENEA	JBSAY	DANOY	NATR	PFODF	JJSF	ARZTY
MRRTY		0.65	-0.68	0.9	0.7	-0.25	0.82	0.76	0.3	-0.6	MRRTY
PPC	0.65		-0.81	0.67	0.53	-0.6	0.67	0.73	0.45	-0.78	PPC
JBSS	-0.68	-0.81		-0.6	-0.51	0.57	-0.68	-0.73	-0.14	0.76	JBSS
SENEA	0.9	0.67	-0.6		0.52	-0.17	0.87	0.8	0.36	-0.65	SENEA
JBSAY	0.7	0.53	-0.51	0.52		-0.47	0.44	0.47	0.15	-0.44	JBSAY
DANOY	-0.25	-0.6	0.57	-0.17	-0.47		-0.1	-0.22	0.08	0.66	DANOY
NATR	0.82	0.67	-0.68	0.87	0.44	-0.1		0.94	0.44	-0.67	NATR
PFODF	0.76	0.73	-0.73	0.8	0.47	-0.22	0.94		0.37	-0.73	PFODF
JJSF	0.3	0.45	-0.14	0.36	0.15	0.08	0.44	0.37		-0.15	JJSF
ARZTY	-0.6	-0.78	0.76	-0.65	-0.44	0.66	-0.67	-0.73	-0.15		ARZTY
	MRRTY	PPC	JBSS	SENEA	JBSAY	DANOY	NATR	PFODF	JJSF	ARZTY

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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

PFODF	+ 0.94	NATR
SENEA	+ 0.9	MRRTY
NATR	+ 0.87	SENEA
NATR	+ 0.82	MRRTY
PFODF	+ 0.8	SENEA
PFODF	+ 0.76	MRRTY

High negative correlations

JBSS	- 0.81	PPC
ARZTY	- 0.78	PPC
ARZTY	- 0.73	PFODF
PFODF	- 0.73	JBSS
NATR	- 0.68	JBSS
JBSS	- 0.68	MRRTY

Risk-Adjusted Indicators

There is a big difference between BRF Stock performing well and BRF SA 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 BRF SA'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
MRRTY	2.20	0.48	0.10	(0.43)	2.22	(2.73)	5.04	(5.00)	11.51
PPC	1.68	0.23	0.05	2.87	2.20	(1.83)	3.57	(3.42)	13.48
JBSS	1.17	(0.16)	0.00	(0.03)	0.00	0.00	1.97	(2.16)	12.01
SENEA	1.19	0.23	0.12	0.36	1.45	(1.34)	2.87	(1.85)	11.87
JBSAY	1.56	0.13	(0.02)	(0.15)	1.98	(1.60)	3.19	(3.71)	8.03
DANOY	0.75	(0.04)	(0.12)	0.02	0.85	(0.87)	1.70	(1.62)	3.88
NATR	2.11	0.09	0.10	0.16	1.88	(2.50)	6.11	(2.99)	22.72
PFODF	0.65	0.19	0.00	0.57	0.00	0.00	0.00	0.00	26.69
JJSF	1.01	(0.09)	(0.05)	0.04	1.18	(1.06)	2.17	(1.89)	9.61
ARZTY	0.70	(0.13)	0.00	(0.66)	0.00	0.00	0.00	0.00	13.20

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