Vale SA Correlations

VALE Stock

USD 10.19 0.01 0.1%

The current 90-days correlation between Vale SA ADR and BHP Group Limited is 0.71 (i.e., Poor diversification). The correlation of Vale 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.

Vale SA Correlation With Market

Good diversification

The correlation between Vale SA ADR and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vale SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Vale 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 bureau of economic analysis.

Moving together with Vale Stock

0.82	MP	MP Materials Corp Sell-off Trend	Pair Corr
0.71	VZLA	Vizsla Resources Corp	Pair Corr
0.85	USARW	USARW Symbol Change	Pair Corr
0.78	BHP	BHP Group Limited	Pair Corr
0.8	EMX	EMX Royalty Corp	Pair Corr
0.9	RIO	Rio Tinto ADR	Pair Corr
0.66	SKE	Skeena Resources	Pair Corr
0.78	TMC	TMC the metals Earnings Call This Week	Pair Corr
0.83	TMQ	Trilogy Metals	Pair Corr
0.67	NIOBW	NioCorp Developments	Pair Corr

Moving against Vale Stock

0.84	LZM	Lifezone Metals	Pair Corr
0.77	PLL	Piedmont Lithium	Pair Corr
0.71	LAR	Lithium Argentina Symbol Change	Pair Corr
0.68	SLI	Standard Lithium	Pair Corr
0.67	IPX	IperionX Limited American	Pair Corr
0.63	NVA	Nova Minerals Limited	Pair Corr
0.61	NEXA	Nexa Resources SA	Pair Corr
0.55	MTRN	Materion	Pair Corr
0.51	LAC	Lithium Americas Corp	Pair Corr
0.43	NMG	Nouveau Monde Graphite Earnings Call This Week	Pair Corr
0.41	USGOW	US GoldMining Warrant	Pair Corr
0.4	ELBM	Electra Battery Materials	Pair Corr
0.37	CMP	Compass Minerals Int	Pair Corr
0.79	CRML	Critical Metals Corp	Pair Corr
0.77	EU	enCore Energy Corp	Pair Corr
0.74	NVAWW	Nova Minerals Limited	Pair Corr
0.73	CF	CF Industries Holdings	Pair Corr
0.71	ABAT	American Battery Tec	Pair Corr
0.61	LITM	Snow Lake Resources	Pair Corr
0.61	CE	Celanese	Pair Corr
0.6	GRFX	Graphex Group Limited	Pair Corr
0.58	CC	Chemours	Pair Corr
0.33	IPXXU	Inflection Point Acq	Pair Corr

Related Correlations Analysis

	BHP	TECK	LAC	MP	RIO	GLNCY	PLL	SGML	SLI
BHP		0.36	-0.16	0.65	0.84	-0.33	-0.38	0.05	-0.34	BHP
TECK	0.36		0.42	0.14	0.15	0.52	0.34	0.22	0.54	TECK
LAC	-0.16	0.42		-0.4	-0.35	0.71	0.76	0.24	0.76	LAC
MP	0.65	0.14	-0.4		0.85	-0.57	-0.7	0.02	-0.48	MP
RIO	0.84	0.15	-0.35	0.85		-0.53	-0.7	0.0	-0.56	RIO
GLNCY	-0.33	0.52	0.71	-0.57	-0.53		0.82	0.1	0.88	GLNCY
PLL	-0.38	0.34	0.76	-0.7	-0.7	0.82		0.18	0.87	PLL
SGML	0.05	0.22	0.24	0.02	0.0	0.1	0.18		0.2	SGML
SLI	-0.34	0.54	0.76	-0.48	-0.56	0.88	0.87	0.2		SLI
	BHP	TECK	LAC	MP	RIO	GLNCY	PLL	SGML	SLI

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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

SLI	+ 0.88	GLNCY
SLI	+ 0.87	PLL
RIO	+ 0.85	MP
RIO	+ 0.84	BHP
PLL	+ 0.82	GLNCY
PLL	+ 0.76	LAC

High negative correlations

PLL	- 0.7	RIO
PLL	- 0.7	MP
GLNCY	- 0.57	MP
SLI	- 0.56	RIO
GLNCY	- 0.53	RIO
SLI	- 0.48	MP

Risk-Adjusted Indicators

There is a big difference between Vale Stock performing well and Vale 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 Vale 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
BHP	0.97	0.05	0.11	(0.86)	1.10	(1.01)	2.13	(1.80)	5.88
TECK	1.59	0.04	0.07	(0.14)	2.19	(1.50)	3.88	(2.71)	13.54
LAC	2.90	0.18	0.05	0.07	3.26	(3.27)	7.39	(4.91)	18.06
MP	2.92	0.89	0.39	(1.14)	2.10	(3.82)	10.08	(3.72)	19.21
RIO	0.96	0.19	0.25	(2.05)	0.91	(1.13)	2.27	(1.41)	5.53
GLNCY	1.43	(0.11)	0.00	(2.22)	0.00	0.00	2.73	(2.91)	9.69
PLL	2.64	(0.37)	0.00	0.34	0.00	0.00	4.60	(4.71)	17.98
SGML	2.32	0.19	0.11	(1.21)	2.48	(2.69)	7.36	(3.91)	16.82
SLI	3.10	(0.16)	0.00	0.27	0.00	0.00	7.01	(5.97)	18.40

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