Gen Digital Correlations

S1YM34 Stock

BRL 178.93 0.00 0.00%

The current 90-days correlation between Gen Digital and Pet Center Comrcio is -0.02 (i.e., Good diversification). The correlation of Gen Digital 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.

Gen Digital Correlation With Market

Very weak diversification

The correlation between Gen Digital and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gen Digital and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gen Stock

0.77	S1NP34	Synopsys,	Pair Corr
0.88	F1TN34	Fortinet	Pair Corr
0.88	S2QU34	Block Inc	Pair Corr
0.69	O1KT34	Okta Inc	Pair Corr
0.83	W1IX34	Wix	Pair Corr
0.75	SBUB34	Starbucks	Pair Corr
0.64	FDMO34	Ford Motor	Pair Corr
0.69	KLBN3	Klabin SA	Pair Corr
0.87	A1LL34	Bread Financial Holdings	Pair Corr

Moving against Gen Stock

0.92	VIVR3	Viver Incorporadora	Pair Corr
0.87	BRKM5	Braskem SA	Pair Corr
0.74	PMAM3	Paranapanema SA	Pair Corr
0.65	JSLG3	JSL SA	Pair Corr
0.55	LWSA3	Locaweb Servios de	Pair Corr
0.52	PAGS34	PagSeguro Digital	Pair Corr
0.51	CSNA3	Companhia Siderrgica	Pair Corr

Related Correlations Analysis

	CASH3	PETZ3	NTCO3	BTLG11	PLPL3	A2RE34	BVAR11	PGCO34	S1YM34	E1RI34
CASH3		0.66	0.47	0.72	0.66	-0.89	-0.66	-0.72	-0.72	-0.75	CASH3
PETZ3	0.66		0.57	0.68	0.79	-0.65	-0.12	-0.69	-0.48	-0.37	PETZ3
NTCO3	0.47	0.57		0.51	0.7	-0.57	0.01	-0.46	-0.48	-0.45	NTCO3
BTLG11	0.72	0.68	0.51		0.69	-0.79	-0.38	-0.71	-0.61	-0.72	BTLG11
PLPL3	0.66	0.79	0.7	0.69		-0.65	-0.04	-0.59	-0.53	-0.36	PLPL3
A2RE34	-0.89	-0.65	-0.57	-0.79	-0.65		0.59	0.86	0.8	0.85	A2RE34
BVAR11	-0.66	-0.12	0.01	-0.38	-0.04	0.59		0.44	0.48	0.66	BVAR11
PGCO34	-0.72	-0.69	-0.46	-0.71	-0.59	0.86	0.44		0.7	0.67	PGCO34
S1YM34	-0.72	-0.48	-0.48	-0.61	-0.53	0.8	0.48	0.7		0.63	S1YM34
E1RI34	-0.75	-0.37	-0.45	-0.72	-0.36	0.85	0.66	0.67	0.63		E1RI34
	CASH3	PETZ3	NTCO3	BTLG11	PLPL3	A2RE34	BVAR11	PGCO34	S1YM34	E1RI34

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

PGCO34	+ 0.86	A2RE34
E1RI34	+ 0.85	A2RE34
S1YM34	+ 0.8	A2RE34
PLPL3	+ 0.79	PETZ3
BTLG11	+ 0.72	CASH3
PLPL3	+ 0.7	NTCO3

High negative correlations

A2RE34	- 0.89	CASH3
A2RE34	- 0.79	BTLG11
E1RI34	- 0.75	CASH3
E1RI34	- 0.72	BTLG11
S1YM34	- 0.72	CASH3
PGCO34	- 0.72	CASH3

Risk-Adjusted Indicators

There is a big difference between Gen Stock performing well and Gen Digital 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 Gen Digital'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
CASH3	2.20	(0.63)	0.00	(1.49)	0.00	0.00	4.86	(4.19)	16.73
PETZ3	2.84	(0.06)	0.00	0.14	0.00	0.00	4.68	(5.00)	22.35
NTCO3	2.02	(0.06)	0.00	(0.14)	0.00	0.00	3.49	(3.98)	15.31
BTLG11	0.91	(0.06)	0.00	1.26	0.00	0.00	1.51	(2.15)	8.00
PLPL3	2.06	(0.45)	0.00	(0.58)	0.00	0.00	3.24	(4.27)	13.45
A2RE34	1.31	0.39	0.23	(0.71)	1.19	(1.50)	3.04	(2.31)	8.90
BVAR11	0.38	0.17	0.00	(3.27)	0.00	0.00	0.24	0.00	10.26
PGCO34	1.18	0.14	0.09	(0.61)	1.42	(1.26)	2.37	(2.17)	9.18
S1YM34	0.92	0.47	0.00	0.21	0.00	0.00	0.52	0.00	28.38
E1RI34	1.22	0.30	0.20	(0.48)	0.76	(2.41)	3.62	(2.09)	16.05

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gen Digital 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.

Did you try this?

Run Money Flow Index Now

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC