Industrias Correlations

ICHB Stock

MXN 180.00 4.10 2.23%

The current 90-days correlation between Industrias CH S and Alfa SAB de is -0.03 (i.e., Good diversification). The correlation of Industrias 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.

Industrias Correlation With Market

Significant diversification

The correlation between Industrias CH S and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Industrias CH S and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Industrias Stock

0.7	HBCN	HSBC Holdings plc	Pair Corr
0.69	AMZN	Amazon Inc	Pair Corr
0.68	HON	Honeywell International	Pair Corr
0.67	KUOB	Grupo KUO SAB	Pair Corr
0.67	DAL	Delta Air Lines	Pair Corr
0.66	LABB	Genomma Lab Internacional	Pair Corr
0.63	TSLA	Tesla Inc	Pair Corr
0.62	USB	US Bancorp	Pair Corr
0.61	NFLX	Netflix	Pair Corr
0.61	GT	Goodyear Tire	Pair Corr
0.59	TRV	The Travelers Companies	Pair Corr
0.55	CTSH	Cognizant Technology	Pair Corr
0.55	WMT	Walmart	Pair Corr
0.53	DIS	Walt Disney	Pair Corr
0.53	T	ATT Inc	Pair Corr
0.5	CVX	Chevron Corp	Pair Corr
0.46	BRKB	Berkshire Hathaway	Pair Corr
0.45	TSMN	Taiwan Semiconductor	Pair Corr
0.39	MNST	Monster Beverage Corp	Pair Corr
0.34	NOV	NOV Inc	Pair Corr

Related Correlations Analysis

	PV	BEVIDESB	ALFAA	SCCO	SORIANAB	COLLADO	AUTLANB	MINSAB	ELEKTRA
PV		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PV
BEVIDESB	0.0		-0.05	0.09	0.03	0.07	-0.64	0.24	-0.4	BEVIDESB
ALFAA	0.0	-0.05		-0.01	0.23	0.48	-0.08	0.35	-0.52	ALFAA
SCCO	0.0	0.09	-0.01		-0.31	-0.31	0.18	-0.45	0.27	SCCO
SORIANAB	0.0	0.03	0.23	-0.31		-0.23	-0.13	-0.19	-0.24	SORIANAB
COLLADO	0.0	0.07	0.48	-0.31	-0.23		-0.29	0.78	-0.51	COLLADO
AUTLANB	0.0	-0.64	-0.08	0.18	-0.13	-0.29		-0.44	0.59	AUTLANB
MINSAB	0.0	0.24	0.35	-0.45	-0.19	0.78	-0.44		-0.75	MINSAB
ELEKTRA	0.0	-0.4	-0.52	0.27	-0.24	-0.51	0.59	-0.75		ELEKTRA
	PV	BEVIDESB	ALFAA	SCCO	SORIANAB	COLLADO	AUTLANB	MINSAB	ELEKTRA

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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

MINSAB	+ 0.78	COLLADO
ELEKTRA	+ 0.59	AUTLANB
COLLADO	+ 0.48	ALFAA
MINSAB	+ 0.35	ALFAA
ELEKTRA	+ 0.27	SCCO
MINSAB	+ 0.24	BEVIDESB

High negative correlations

ELEKTRA	- 0.75	MINSAB
AUTLANB	- 0.64	BEVIDESB
ELEKTRA	- 0.52	ALFAA
ELEKTRA	- 0.51	COLLADO
MINSAB	- 0.45	SCCO
MINSAB	- 0.44	AUTLANB

Risk-Adjusted Indicators

There is a big difference between Industrias Stock performing well and Industrias 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 Industrias' 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
PV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BEVIDESB	0.71	0.16	0.00	4.00	0.00	0.00	3.09	0.00	12.46
ALFAA	1.78	0.20	0.09	0.77	1.70	(2.24)	4.10	(3.79)	12.68
SCCO	0.47	0.12	0.00	(1.62)	0.00	0.00	0.00	0.00	20.00
SORIANAB	0.66	(0.07)	0.00	(0.41)	0.00	0.00	2.07	(2.03)	6.26
COLLADO	0.08	0.03	0.00	(0.73)	0.00	0.00	0.00	0.00	2.77
AUTLANB	0.81	(0.12)	0.00	1.02	0.00	0.00	2.37	(2.34)	9.80
MINSAB	0.18	0.04	0.00	0.51	0.00	0.00	0.22	0.00	2.95
ELEKTRA	3.44	(0.72)	0.00	(0.75)	0.00	0.00	9.27	(6.62)	69.84

Be your own money manager

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