Zebra Technologies Correlations

Z1BR34 Stock

BRL 79.28 0.00 0.00%

The current 90-days correlation between Zebra Technologies and Take Two Interactive Software is -0.16 (i.e., Good diversification). The correlation of Zebra Technologies 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.

Zebra Technologies Correlation With Market

Significant diversification

The correlation between Zebra Technologies and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zebra Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zebra Stock

0.96	CSCO34	Cisco Systems	Pair Corr
0.92	M1SI34	Motorola Solutions	Pair Corr
0.9	H1PE34	Hewlett Packard Ente	Pair Corr
0.8	E1RI34	Telefonaktiebolaget	Pair Corr
0.94	ORLY34	OReilly Automotive	Pair Corr
0.9	D1DG34	Datadog,	Pair Corr

Moving against Zebra Stock

0.93	INTB3	Intelbras SA	Pair Corr
0.93	RPAD3	Alfa Holdings SA	Pair Corr
0.91	RPAD6	Alfa Holdings SA	Pair Corr
0.88	PDTC3	Padtec Holding SA	Pair Corr

Related Correlations Analysis

	MTSA4	HOME34	T1TW34	S2TA34	I1RM34	C1HK34	LEVE3
MTSA4		-0.19	-0.27	-0.16	-0.4	0.04	0.11	MTSA4
HOME34	-0.19		0.84	0.43	0.34	0.65	-0.83	HOME34
T1TW34	-0.27	0.84		0.27	0.17	0.84	-0.91	T1TW34
S2TA34	-0.16	0.43	0.27		0.54	0.04	-0.2	S2TA34
I1RM34	-0.4	0.34	0.17	0.54		-0.21	-0.07	I1RM34
C1HK34	0.04	0.65	0.84	0.04	-0.21		-0.86	C1HK34
LEVE3	0.11	-0.83	-0.91	-0.2	-0.07	-0.86		LEVE3
	MTSA4	HOME34	T1TW34	S2TA34	I1RM34	C1HK34	LEVE3

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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

T1TW34	+ 0.84	HOME34
C1HK34	+ 0.84	T1TW34
C1HK34	+ 0.65	HOME34
I1RM34	+ 0.54	S2TA34
S2TA34	+ 0.43	HOME34
I1RM34	+ 0.34	HOME34

High negative correlations

LEVE3	- 0.91	T1TW34
LEVE3	- 0.86	C1HK34
LEVE3	- 0.83	HOME34
I1RM34	- 0.4	MTSA4
T1TW34	- 0.27	MTSA4
C1HK34	- 0.21	I1RM34

Risk-Adjusted Indicators

There is a big difference between Zebra Stock performing well and Zebra Technologies 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 Zebra Technologies' 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
MTSA4	1.96	0.08	0.03	(0.25)	2.07	(2.32)	4.38	(3.42)	9.99
HOME34	1.15	0.19	0.11	(1.90)	1.35	(1.17)	2.43	(2.24)	7.87
T1TW34	1.23	0.52	0.33	(26.23)	1.08	(1.44)	2.96	(1.99)	12.15
S2TA34	1.49	0.01	0.00	(0.01)	2.29	(1.46)	2.43	(2.98)	17.94
I1RM34	1.24	0.01	0.00	0.00	2.64	(1.06)	2.89	(3.35)	12.29
C1HK34	0.81	0.41	0.00	(4.20)	0.00	0.00	0.00	0.00	12.54
LEVE3	1.06	(0.18)	0.00	(15.29)	0.00	0.00	2.45	(2.89)	7.83

Be your own money manager

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