Sendas Distribuidora Correlations

ASAI Stock

USD 5.75 1.24 27.49%

The current 90-days correlation between Sendas Distribuidora and Weis Markets is 0.01 (i.e., Significant diversification). The correlation of Sendas Distribuidora 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.

Sendas Distribuidora Correlation With Market

Significant diversification

The correlation between Sendas Distribuidora SA 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 Sendas Distribuidora SA and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Sendas Stock

0.65	DG	Dollar General	Pair Corr
0.64	IMKTA	Ingles Markets Earnings Call This Week	Pair Corr
0.77	DDL	Dingdong ADR	Pair Corr
0.82	BG	Bunge Limited Earnings Call This Week	Pair Corr
0.74	CL	Colgate Palmolive	Pair Corr
0.76	JZ	Jianzhi Education	Pair Corr
0.9	LW	Lamb Weston Holdings	Pair Corr
0.67	UL	Unilever PLC ADR	Pair Corr
0.83	DOLE	Dole PLC	Pair Corr

Moving against Sendas Stock

0.84	K	Kellanova Earnings Call This Week	Pair Corr
0.73	WBA	Walgreens Boots Alliance	Pair Corr
0.72	MSS	Maison Solutions	Pair Corr
0.68	DLTR	Dollar Tree	Pair Corr
0.64	ACI	Albertsons Companies	Pair Corr
0.51	WMT	Walmart Aggressive Push	Pair Corr
0.35	HITI	High Tide	Pair Corr
0.31	WNW	Meiwu Technology	Pair Corr
0.84	VITL	Vital Farms	Pair Corr
0.79	EDBL	Edible Garden AG	Pair Corr
0.78	EAST	Eastside Distilling Symbol Change	Pair Corr
0.77	BRLSW	Borealis Foods Symbol Change	Pair Corr
0.64	WILC	G Willi Food	Pair Corr
0.62	WVVI	Willamette Valley	Pair Corr
0.35	DTCK	Davis Commodities	Pair Corr
0.32	EL	Estee Lauder Companies Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VLGEA	WMK	IMKTA	GO	NGVC	SFM	ACI	OCDGF	TSCDF	KKOYY
VLGEA		0.46	0.35	0.29	0.58	0.63	0.63	-0.52	-0.09	-0.29	VLGEA
WMK	0.46		0.89	0.76	0.4	0.59	0.06	-0.15	-0.04	0.34	WMK
IMKTA	0.35	0.89		0.83	0.39	0.71	-0.07	-0.03	-0.07	0.55	IMKTA
GO	0.29	0.76	0.83		0.49	0.66	0.0	-0.19	-0.03	0.23	GO
NGVC	0.58	0.4	0.39	0.49		0.71	0.59	-0.74	0.15	-0.4	NGVC
SFM	0.63	0.59	0.71	0.66	0.71		0.37	-0.4	-0.1	0.11	SFM
ACI	0.63	0.06	-0.07	0.0	0.59	0.37		-0.73	-0.22	-0.65	ACI
OCDGF	-0.52	-0.15	-0.03	-0.19	-0.74	-0.4	-0.73		0.07	0.7	OCDGF
TSCDF	-0.09	-0.04	-0.07	-0.03	0.15	-0.1	-0.22	0.07		-0.03	TSCDF
KKOYY	-0.29	0.34	0.55	0.23	-0.4	0.11	-0.65	0.7	-0.03		KKOYY
	VLGEA	WMK	IMKTA	GO	NGVC	SFM	ACI	OCDGF	TSCDF	KKOYY

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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

IMKTA	+ 0.89	WMK
GO	+ 0.83	IMKTA
GO	+ 0.76	WMK
SFM	+ 0.71	IMKTA
SFM	+ 0.71	NGVC
KKOYY	+ 0.7	OCDGF

High negative correlations

OCDGF	- 0.74	NGVC
OCDGF	- 0.73	ACI
KKOYY	- 0.65	ACI
OCDGF	- 0.52	VLGEA
OCDGF	- 0.4	SFM
KKOYY	- 0.4	NGVC

Risk-Adjusted Indicators

There is a big difference between Sendas Stock performing well and Sendas Distribuidora 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 Sendas Distribuidora'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
VLGEA	1.56	0.17	0.07	0.41	1.73	(1.64)	2.96	(3.14)	17.88
WMK	1.29	0.07	0.01	0.34	1.58	(1.32)	2.92	(2.13)	13.82
IMKTA	1.38	0.08	0.02	0.33	1.34	(1.68)	2.93	(2.26)	9.46
GO	2.78	0.03	0.00	0.12	4.46	(2.64)	6.70	(5.23)	19.59
NGVC	2.26	0.67	0.32	0.38	1.66	(2.57)	4.66	(3.37)	31.76
SFM	1.57	0.35	0.20	0.44	1.35	(1.87)	4.54	(2.49)	12.59
ACI	1.11	0.09	0.02	0.60	1.27	(1.13)	2.57	(2.12)	7.71
OCDGF	2.04	(0.26)	0.00	(0.87)	0.00	0.00	4.93	(4.44)	21.32
TSCDF	2.01	(0.01)	0.00	0.07	2.51	(2.28)	5.06	(4.95)	11.33
KKOYY	1.24	0.00	(0.05)	0.06	1.48	(1.48)	2.13	(2.69)	15.23

Sendas Distribuidora Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sendas Distribuidora stock to make a market-neutral strategy. Peer analysis of Sendas Distribuidora could also be used in its relative valuation, which is a method of valuing Sendas Distribuidora by comparing valuation metrics with similar companies.

Village Super Market Weis Markets Ingles Markets Incorporated Grocery Outlet Holding Natural Grocers by Sprouts Farmers Market Albertsons Companies Ocado Group PLC Tesco PLC Kesko Oyj ADR Tesco PLC American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

Sendas Distribuidora Corporate Management

Vitor Almeida	VP Board	Profile
Christophe Hidalgo	Director	Profile
Geraldo Mattos	Independent Director	Profile
Philippe Alarcon	Director	Profile
Luiz Carvalho	Independent Director	Profile
JeanCharles Naouri	Chairman of the Board	Profile
Josseline Clausade	Director	Profile

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