Sondotcnica Engenharia Correlations
| SOND5 Preferred Stock | BRL 36.35 0.00 0.00% |
The current 90-days correlation between Sondotcnica Engenharia and United Natural Foods, is -0.07 (i.e., Good diversification). The correlation of Sondotcnica Engenharia 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.
Sondotcnica Engenharia Correlation With Market
Significant diversification
The correlation between Sondotcnica Engenharia de and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sondotcnica Engenharia de and DJI in the same portfolio, assuming nothing else is changed.
Sondotcnica |
The ability to find closely correlated positions to Sondotcnica Engenharia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sondotcnica Engenharia 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 Sondotcnica Engenharia - 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 Sondotcnica Engenharia de to buy it.
Moving together with Sondotcnica Preferred Stock
| 0.74 | Q1UA34 | Quanta Services, | PairCorr |
| 0.63 | AAPL34 | Apple Inc | PairCorr |
| 0.82 | MSFT34 | Microsoft | PairCorr |
| 0.66 | TSLA34 | Tesla Inc | PairCorr |
Moving against Sondotcnica Preferred Stock
| 0.92 | PRNR3 | Priner Servios Indus | PairCorr |
| 0.8 | BBAS3 | Banco do Brasil | PairCorr |
| 0.76 | SHUL4 | Schulz SA | PairCorr |
| 0.75 | VIVT3 | Telefnica Brasil | PairCorr |
| 0.75 | AMAR3 | Marisa Lojas SA | PairCorr |
| 0.46 | AZEV3 | Azevedo Travassos | PairCorr |
| 0.31 | VISA34 | Visa Inc | PairCorr |
| 0.73 | BRSR3 | Banco do Estado | PairCorr |
| 0.72 | BGIP4 | Banco do Estado | PairCorr |
| 0.71 | CPLE6 | Companhia Paranaense | PairCorr |
| 0.71 | AURA33 | Aura Minerals | PairCorr |
| 0.67 | ELET3 | Centrais Eltricas | PairCorr |
| 0.59 | CTGP34 | Citigroup | PairCorr |
| 0.51 | FMSC34 | Fresenius Medical Care | PairCorr |
| 0.5 | ALPA4 | Alpargatas SA | PairCorr |
| 0.43 | LILY34 | Eli Lilly | PairCorr |
| 0.42 | RPMG3 | Refinaria de Petrleos | PairCorr |
| 0.4 | JPMC34 | JPMorgan Chase | PairCorr |
| 0.39 | T1MU34 | T Mobile | PairCorr |
| 0.35 | MERC4 | Mercantil do Brasil | PairCorr |
| 0.32 | AFLT3 | Afluente Transmisso | PairCorr |
Related Correlations Analysis
| 0.02 | -0.36 | -0.32 | 0.49 | 0.25 | U2NF34 | ||
| 0.02 | 0.56 | 0.56 | -0.49 | 0.43 | P2AX34 | ||
| -0.36 | 0.56 | 0.61 | -0.75 | 0.4 | TSNF34 | ||
| -0.32 | 0.56 | 0.61 | -0.59 | 0.5 | H1RL34 | ||
| 0.49 | -0.49 | -0.75 | -0.59 | -0.18 | CLOV34 | ||
| 0.25 | 0.43 | 0.4 | 0.5 | -0.18 | ADPR34 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Sondotcnica Preferred Stock performing well and Sondotcnica Engenharia 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 Sondotcnica Engenharia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| U2NF34 | 2.52 | 0.69 | 0.29 | 4.37 | 1.89 | 5.76 | 30.26 | |||
| P2AX34 | 0.85 | 0.02 | 0.00 | (0.17) | 1.50 | 3.58 | 15.32 | |||
| TSNF34 | 1.00 | 0.05 | 0.02 | 0.21 | 1.38 | 2.63 | 13.63 | |||
| H1RL34 | 0.71 | (0.02) | 0.00 | 0.13 | 0.00 | 2.79 | 15.29 | |||
| CLOV34 | 2.54 | 0.35 | 0.12 | 1.32 | 2.55 | 5.15 | 17.58 | |||
| ADPR34 | 0.77 | 0.11 | 0.09 | 3.56 | 0.82 | 2.59 | 7.61 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Sondotcnica Engenharia 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?
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