Alphaville Correlations

AVLL3 Stock

BRL 2.72 0.04 1.49%

The current 90-days correlation between Alphaville SA and BTG Pactual Logstica is 0.05 (i.e., Significant diversification). The correlation of Alphaville 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.

Alphaville Correlation With Market

Significant diversification

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

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

Moving together with Alphaville Stock

0.89	JSLG3	JSL SA	Pair Corr
0.94	VIVR3	Viver Incorporadora	Pair Corr
0.89	PMAM3	Paranapanema SA	Pair Corr

Moving against Alphaville Stock

0.74	PLPL3	Plano Plano Desenvol	Pair Corr
0.66	SBUB34	Starbucks	Pair Corr
0.32	FDMO34	Ford Motor	Pair Corr

Related Correlations Analysis

	AMBP3	DIRR3	ENGI11	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34
AMBP3		-0.13	-0.92	-0.82	0.6	-0.87	0.1	0.69	0.57	AMBP3
DIRR3	-0.13		0.03	-0.19	0.17	0.09	0.24	0.02	-0.1	DIRR3
ENGI11	-0.92	0.03		0.89	-0.65	0.87	-0.14	-0.78	-0.59	ENGI11
BTLG11	-0.82	-0.19	0.89		-0.79	0.81	-0.17	-0.81	-0.38	BTLG11
PLPL3	0.6	0.17	-0.65	-0.79		-0.83	0.15	0.79	0.17	PLPL3
HBTS5	-0.87	0.09	0.87	0.81	-0.83		-0.1	-0.77	-0.39	HBTS5
PGCO34	0.1	0.24	-0.14	-0.17	0.15	-0.1		0.37	0.31	PGCO34
E1RI34	0.69	0.02	-0.78	-0.81	0.79	-0.77	0.37		0.54	E1RI34
C1AB34	0.57	-0.1	-0.59	-0.38	0.17	-0.39	0.31	0.54		C1AB34
	AMBP3	DIRR3	ENGI11	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34

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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

BTLG11	+ 0.89	ENGI11
HBTS5	+ 0.87	ENGI11
HBTS5	+ 0.81	BTLG11
E1RI34	+ 0.79	PLPL3
E1RI34	+ 0.69	AMBP3
PLPL3	+ 0.6	AMBP3

High negative correlations

ENGI11	- 0.92	AMBP3
HBTS5	- 0.87	AMBP3
HBTS5	- 0.83	PLPL3
BTLG11	- 0.82	AMBP3
E1RI34	- 0.81	BTLG11
PLPL3	- 0.79	BTLG11

Risk-Adjusted Indicators

There is a big difference between Alphaville Stock performing well and Alphaville 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 Alphaville'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
AMBP3	4.70	1.39	0.20	(1.28)	4.91	(5.21)	10.99	(9.05)	33.93
DIRR3	1.32	0.11	0.02	0.51	1.42	(1.43)	2.94	(2.30)	5.98
ENGI11	1.03	(0.25)	0.00	(1.29)	0.00	0.00	2.44	(2.50)	6.68
BTLG11	0.52	(0.09)	0.00	(1.19)	0.00	0.00	0.98	(1.29)	4.73
PLPL3	1.74	0.09	0.00	0.43	1.86	(1.99)	3.98	(3.23)	8.69
HBTS5	1.72	(0.20)	0.00	0.36	0.00	0.00	5.18	(6.25)	20.67
PGCO34	1.07	0.18	0.03	(0.75)	1.09	(1.20)	2.28	(1.88)	7.52
E1RI34	1.24	0.27	0.10	(4.47)	0.87	(2.11)	3.48	(2.09)	16.05
C1AB34	1.40	0.24	0.09	0.41	1.29	(2.43)	4.35	(2.60)	14.25

Be your own money manager

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