KMBB34 Correlations

Stocks . Brazil . 
Stock . KMBB34
KMBB34 Stock  BRL 823.20  23.73  2.97%   
The current 90-days correlation between KMBB34 and Colgate Palmolive is -0.2 (i.e., Good diversification). The correlation of KMBB34 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.

KMBB34 Correlation With Market

Good diversification

The correlation between KMBB34 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KMBB34 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to KMBB34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KMBB34 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 KMBB34 - 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 KMBB34 to buy it.

Moving together with KMBB34 Stock

  0.79PGCO34 Procter GamblePairCorr
  0.65COLG34 Colgate PalmolivePairCorr
  0.66MNDL3 Mundial SAPairCorr
  0.64M1UF34 Mitsubishi UFJ FinancialPairCorr
  0.68S1MF34 Sumitomo Mitsui FinancialPairCorr
  0.62NMRH34 Nomura HoldingsPairCorr
  0.67SNEC34 Sony Group SplitPairCorr
  0.66H1DB34 HDFC Bank LimitedPairCorr
  0.61TSMC34 Taiwan SemiconductorPairCorr
  0.64JPMC34 JPMorgan ChasePairCorr
  0.62A1TM34 A1TM34PairCorr
  0.64CTKA3 Karsten SAPairCorr
  0.67COWC34 Costco WholesalePairCorr
  0.63CAON34 Capital One FinancialPairCorr
  0.74F1RA34 F1RA34PairCorr
  0.63AMZO34 Amazon IncPairCorr
  0.65P2LT34 Palantir TechnologiesPairCorr
  0.78AAPL34 Apple IncPairCorr
  0.62VISA34 Visa IncPairCorr
  0.73WALM34 WalmartPairCorr
  0.77ACNB34 Accenture plcPairCorr
  0.64SSFO34 salesforce incPairCorr
  0.7B1NT34 BIONTECH SE DRNPairCorr

Moving against KMBB34 Stock

  0.45HOND34 Honda MotorPairCorr
  0.36BOBR4 Bombril SAPairCorr

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   
COLG34
+ 0.58
ULEV34
HETA4
+ 0.38
COLG34
MNDL3
+ 0.37
COLG34
BOBR4
+ 0.35
NTCO3
COTY34
+ 0.3
COLG34
NTCO3
+ 0.26
COTY34
  
High negative correlations   
BOBR4
- 0.45
COLG34
BOBR4
- 0.34
COTY34
MNDL3
- 0.33
COTY34
NTCO3
- 0.33
ULEV34
MNDL3
- 0.3
BOBR4
NTCO3
- 0.26
COLG34

Risk-Adjusted Indicators

There is a big difference between KMBB34 Stock performing well and KMBB34 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 KMBB34'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 KMBB34 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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