Ambev SA Correlations

ABEV Stock

USD 1.86 0.04 2.20%

The current 90-days correlation between Ambev SA ADR and Carlsberg AS is 0.23 (i.e., Modest diversification). The correlation of Ambev 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ambev SA Correlation With Market

Average diversification

The correlation between Ambev SA ADR and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ambev SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ambev 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 income.

Moving together with Ambev Stock

0.82	BG	Bunge Limited Earnings Call This Week	Pair Corr
0.86	LW	Lamb Weston Holdings	Pair Corr
0.63	PM	Philip Morris Intern Earnings Call This Week	Pair Corr
0.82	DOLE	Dole PLC	Pair Corr
0.73	FARM	Farmer Bros Earnings Call This Week	Pair Corr
0.65	ADM	Archer Daniels Midland	Pair Corr
0.8	BUD	Anheuser Busch Inbev	Pair Corr
0.69	CAG	ConAgra Foods	Pair Corr
0.83	CPB	Campbell Soup	Pair Corr
0.87	FLO	Flowers Foods Earnings Call This Week	Pair Corr
0.78	FMX	Fomento Economico	Pair Corr
0.81	GIS	General Mills	Pair Corr
0.82	HSY	Hershey Earnings Call This Week	Pair Corr
0.76	KHC	Kraft Heinz	Pair Corr
0.74	LND	Brasilagro Adr Earnings Call This Week	Pair Corr
0.71	PPC	Pilgrims Pride Corp	Pair Corr
0.77	SAM	Boston Beer	Pair Corr

Moving against Ambev Stock

0.8	K	Kellanova Earnings Call This Week	Pair Corr
0.77	EDBL	Edible Garden AG	Pair Corr
0.71	VITL	Vital Farms	Pair Corr
0.49	CCU	Compania Cervecerias	Pair Corr
0.44	BTI	British American Tobacco Earnings Call This Week	Pair Corr
0.84	RLX	RLX Technology	Pair Corr
0.73	EDBLW	Edible Garden AG	Pair Corr
0.55	SENEA	Seneca Foods Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FMX	SAM	KNBWY	CABGY	CCU	TAP-A	TAP	BUD	HEINY
FMX		0.49	0.81	0.8	-0.47	0.2	0.13	0.9	0.91	FMX
SAM	0.49		0.55	0.23	-0.6	0.73	0.8	0.56	0.5	SAM
KNBWY	0.81	0.55		0.68	-0.73	0.22	0.23	0.86	0.84	KNBWY
CABGY	0.8	0.23	0.68		-0.23	0.06	0.02	0.85	0.86	CABGY
CCU	-0.47	-0.6	-0.73	-0.23		-0.21	-0.36	-0.55	-0.49	CCU
TAP-A	0.2	0.73	0.22	0.06	-0.21		0.77	0.21	0.16	TAP-A
TAP	0.13	0.8	0.23	0.02	-0.36	0.77		0.19	0.09	TAP
BUD	0.9	0.56	0.86	0.85	-0.55	0.21	0.19		0.98	BUD
HEINY	0.91	0.5	0.84	0.86	-0.49	0.16	0.09	0.98		HEINY
	FMX	SAM	KNBWY	CABGY	CCU	TAP-A	TAP	BUD	HEINY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

HEINY	+ 0.98	BUD
HEINY	+ 0.91	FMX
BUD	+ 0.9	FMX
BUD	+ 0.86	KNBWY
HEINY	+ 0.86	CABGY
BUD	+ 0.85	CABGY

High negative correlations

CCU	- 0.73	KNBWY
CCU	- 0.6	SAM
BUD	- 0.55	CCU
HEINY	- 0.49	CCU
CCU	- 0.47	FMX
TAP	- 0.36	CCU

Risk-Adjusted Indicators

There is a big difference between Ambev Stock performing well and Ambev 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 Ambev 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
FMX	1.21	(0.14)	0.00	2.03	0.00	0.00	2.72	(2.41)	9.08
SAM	1.34	(0.28)	0.00	(0.86)	0.00	0.00	2.30	(2.78)	9.85
KNBWY	1.02	(0.11)	0.00	2.59	0.00	0.00	2.23	(2.61)	5.89
CABGY	1.28	(0.18)	0.00	(0.19)	0.00	0.00	2.55	(3.33)	7.09
CCU	1.03	0.05	(0.02)	0.58	1.26	(1.07)	1.76	(1.94)	6.40
TAP-A	0.53	0.01	(0.02)	0.12	0.89	(2.22)	1.85	(2.66)	7.89
TAP	1.14	(0.04)	0.00	(0.03)	0.00	0.00	2.61	(2.41)	10.66
BUD	1.03	(0.43)	0.00	(1.07)	0.00	0.00	1.42	(2.65)	8.01
HEINY	0.92	(0.33)	0.00	(1.07)	0.00	0.00	1.45	(2.05)	6.23

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