Aluar Aluminio Correlations

ALUA Stock

ARS 811.00 5.00 0.61%

The current 90-days correlation between Aluar Aluminio Argentino and United States Steel is -0.13 (i.e., Good diversification). The correlation of Aluar Aluminio 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.

Aluar Aluminio Correlation With Market

Good diversification

The correlation between Aluar Aluminio Argentino and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aluar Aluminio Argentino and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Aluar Stock

0.69	GFI	Gold Fields	Pair Corr
0.66	BABA	Alibaba Group Holding	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.64	NVDA	NVIDIA	Pair Corr
0.64	BHP	BHP Group Limited	Pair Corr
0.52	MRK	Merck Company	Pair Corr
0.42	NKE	NIKE Inc	Pair Corr

Related Correlations Analysis

	ALUA	AXP	QCOMD	X	PFE	DGCU2	IRCP	DYCA	GARO	MOLA
ALUA		0.19	-0.62	-0.53	-0.58	0.75	0.0	0.59	0.48	0.37	ALUA
AXP	0.19		-0.44	-0.42	0.04	0.26	0.0	0.62	0.72	0.82	AXP
QCOMD	-0.62	-0.44		0.65	0.59	-0.74	0.0	-0.84	-0.64	-0.67	QCOMD
X	-0.53	-0.42	0.65		0.33	-0.7	0.0	-0.72	-0.68	-0.7	X
PFE	-0.58	0.04	0.59	0.33		-0.8	0.0	-0.59	-0.28	-0.14	PFE
DGCU2	0.75	0.26	-0.74	-0.7	-0.8		0.0	0.78	0.58	0.47	DGCU2
IRCP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IRCP
DYCA	0.59	0.62	-0.84	-0.72	-0.59	0.78	0.0		0.85	0.82	DYCA
GARO	0.48	0.72	-0.64	-0.68	-0.28	0.58	0.0	0.85		0.83	GARO
MOLA	0.37	0.82	-0.67	-0.7	-0.14	0.47	0.0	0.82	0.83		MOLA
	ALUA	AXP	QCOMD	X	PFE	DGCU2	IRCP	DYCA	GARO	MOLA

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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

GARO	+ 0.85	DYCA
MOLA	+ 0.83	GARO
MOLA	+ 0.82	AXP
MOLA	+ 0.82	DYCA
DYCA	+ 0.78	DGCU2
DGCU2	+ 0.75	ALUA

High negative correlations

DYCA	- 0.84	QCOMD
DGCU2	- 0.8	PFE
DGCU2	- 0.74	QCOMD
DYCA	- 0.72	X
MOLA	- 0.7	X
DGCU2	- 0.7	X

Risk-Adjusted Indicators

There is a big difference between Aluar Stock performing well and Aluar Aluminio 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 Aluar Aluminio'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
ALUA	1.89	(0.06)	0.00	0.26	0.00	0.00	4.67	(4.01)	11.67
AXP	1.44	0.19	0.11	0.49	1.38	(1.69)	3.31	(2.53)	8.56
QCOMD	1.92	(0.15)	0.00	8.23	0.00	0.00	3.25	(3.56)	11.23
X	2.63	0.04	0.01	0.08	3.14	(2.86)	6.19	(5.83)	16.36
PFE	1.14	(0.13)	0.00	0.73	0.00	0.00	1.91	(2.34)	9.21
DGCU2	2.48	0.36	0.11	1.34	2.87	(2.85)	6.12	(5.26)	16.77
IRCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DYCA	3.03	0.85	0.24	1.33	2.29	(4.95)	9.18	(4.93)	36.28
GARO	3.08	0.90	0.25	3.95	3.01	(3.84)	6.67	(4.76)	27.24
MOLA	3.01	0.71	0.22	0.82	2.66	(3.60)	6.38	(4.55)	24.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aluar Aluminio 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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