Banco Do Correlations

Stocks . Brazil . 
Stock . Banco do Brasil
BBAS3 Stock  BRL 25.35  0.03  0.12%   
The current 90-days correlation between Banco do Brasil and Banco Bradesco SA is 0.64 (i.e., Poor diversification). The correlation of Banco Do 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.

Banco Do Correlation With Market

Average diversification

The correlation between Banco do Brasil and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banco do Brasil and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Banco Do could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Banco Do 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 Banco Do - 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 Banco do Brasil to buy it.

Moving against Banco Stock

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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   
ITSA4
+ 0.99
ITUB4
ITUB4
+ 0.91
BBDC4
ITSA4
+ 0.91
BBDC4
VALE3
+ 0.87
ITSA4
VALE3
+ 0.86
ITUB4
VALE3
+ 0.83
BBDC4
  
High negative correlations   
ITSA4
- 0.81
PETR4
ITUB4
- 0.78
PETR4
PETR4
- 0.76
BBDC4
VALE3
- 0.7
PETR4

Risk-Adjusted Indicators

There is a big difference between Banco Stock performing well and Banco Do 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 Banco Do'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.

Be your own money manager

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