BrasilAgro Companhia Correlations

AGRO3 Stock  BRL 23.61  0.09  0.38%   
The current 90-days correlation between BrasilAgro Companhia and Cyrela Brazil Realty is 0.18 (i.e., Average diversification). The correlation of BrasilAgro Companhia 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.

BrasilAgro Companhia Correlation With Market

Good diversification

The correlation between BrasilAgro Companhia and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BrasilAgro Companhia and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BrasilAgro Companhia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BrasilAgro Companhia 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 BrasilAgro Companhia - 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 BrasilAgro Companhia to buy it.

Moving against BrasilAgro Stock

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  0.52UPSS34 United Parcel ServicePairCorr
  0.43ACNB34 Accenture plcPairCorr
  0.35WALM34 WalmartPairCorr
  0.32AMZO34 Amazon IncPairCorr

Related Correlations Analysis

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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   
BTLG11ENGI11
GOGL35RAPT3
RAPT3FRAS3
BTLG11CLIN11
CLIN11ENGI11
GOGL35FRAS3
  
High negative correlations   
GOGL35ENGI11
GOGL35BTLG11
RAPT3BTLG11
BTLG11FRAS3
RAPT3ENGI11
ENGI11FRAS3

Risk-Adjusted Indicators

There is a big difference between BrasilAgro Stock performing well and BrasilAgro Companhia 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 BrasilAgro Companhia'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CSNA3  2.04 (0.10) 0.00 (0.40) 0.00 
 3.34 
 14.08 
CYRE3  1.53 (0.31) 0.00 (1.52) 0.00 
 3.05 
 11.28 
FRAS3  1.05  0.03 (0.05) 0.37  1.37 
 2.61 
 6.15 
ENGI11  1.03 (0.24) 0.00 (153.00) 0.00 
 2.44 
 6.68 
CLIN11  0.70 (0.08) 0.00 (1.87) 0.00 
 1.01 
 4.19 
BTLG11  0.53 (0.11) 0.00  2.15  0.00 
 0.98 
 4.73 
PGCO34  1.06  0.20  0.09  1.40  0.98 
 2.19 
 7.52 
CPLE5  2.21 (0.11) 0.00 (0.32) 0.00 
 4.55 
 31.27 
RAPT3  1.24  0.01 (0.06)(0.18) 1.65 
 2.39 
 9.30 
GOGL35  1.25  0.21  0.04 (0.82) 1.62 
 2.59 
 8.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in BrasilAgro Companhia 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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