Foreign Trade Correlations

BLX Stock

USD 33.84 0.20 0.59%

The current 90-days correlation between Foreign Trade Bank and Grupo Aval is 0.04 (i.e., Significant diversification). The correlation of Foreign Trade 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.

Foreign Trade Correlation With Market

Poor diversification

The correlation between Foreign Trade Bank and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foreign Trade Bank and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Foreign Trade Bank. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Foreign Stock

0.7	V	Visa Class A	Pair Corr
0.63	DHIL	Diamond Hill Investment	Pair Corr
0.81	DIST	Distoken Acquisition	Pair Corr
0.71	AB	AllianceBernstein	Pair Corr
0.81	AC	Associated Capital	Pair Corr
0.91	BN	Brookfield Corp	Pair Corr
0.82	BX	Blackstone Group Normal Trading	Pair Corr
0.87	CG	Carlyle Group	Pair Corr
0.63	DB	Deutsche Bank AG	Pair Corr
0.82	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.74	LC	LendingClub Corp	Pair Corr
0.74	LX	Lexinfintech Holdings	Pair Corr
0.87	MA	Mastercard	Pair Corr
0.82	MC	Moelis Potential Growth	Pair Corr
0.86	MS	Morgan Stanley Sell-off Trend	Pair Corr
0.87	PX	P10 Inc	Pair Corr
0.74	QD	Qudian Inc	Pair Corr
0.9	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.79	TW	Tradeweb Markets Normal Trading	Pair Corr
0.73	WT	WisdomTree	Pair Corr
0.87	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.63	DUET	DUET Acquisition Corp	Pair Corr
0.77	VIRT	Virtu Financial Normal Trading	Pair Corr
0.72	DYCQ	DT Cloud Acquisition	Pair Corr

Moving against Foreign Stock

0.7	PT	Pintec Technology	Pair Corr
0.62	RC	Ready Capital Corp	Pair Corr
0.43	RM	Regional Management Corp	Pair Corr
0.79	BRACU	Broad Capital Acquisition	Pair Corr
0.72	XP	Xp Inc	Pair Corr
0.54	WU	Western Union	Pair Corr
0.48	EMCGU	Embrace Change Acqui	Pair Corr
0.44	PFTAU	Portage Fintech Acqu	Pair Corr
0.4	DMYY	dMY Squared Technology	Pair Corr
0.37	EARN	Ellington Residential Normal Trading	Pair Corr

Related Correlations Analysis

	BSAC	CIB	BBDO	BAP	BSBR	AVAL	BCH	HFBL	HMNF	HVBC
BSAC		0.07	0.52	-0.38	0.65	0.09	0.79	-0.05	-0.66	-0.44	BSAC
CIB	0.07		-0.36	0.33	-0.34	0.61	-0.16	0.21	0.19	0.03	CIB
BBDO	0.52	-0.36		-0.78	0.94	0.03	0.85	-0.06	-0.59	-0.49	BBDO
BAP	-0.38	0.33	-0.78		-0.85	0.07	-0.65	0.1	0.52	0.46	BAP
BSBR	0.65	-0.34	0.94	-0.85		-0.05	0.87	-0.07	-0.65	-0.5	BSBR
AVAL	0.09	0.61	0.03	0.07	-0.05		0.09	0.13	-0.09	0.16	AVAL
BCH	0.79	-0.16	0.85	-0.65	0.87	0.09		0.04	-0.68	-0.45	BCH
HFBL	-0.05	0.21	-0.06	0.1	-0.07	0.13	0.04		-0.1	0.03	HFBL
HMNF	-0.66	0.19	-0.59	0.52	-0.65	-0.09	-0.68	-0.1		0.4	HMNF
HVBC	-0.44	0.03	-0.49	0.46	-0.5	0.16	-0.45	0.03	0.4		HVBC
	BSAC	CIB	BBDO	BAP	BSBR	AVAL	BCH	HFBL	HMNF	HVBC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

BSBR	+ 0.94	BBDO
BCH	+ 0.87	BSBR
BCH	+ 0.85	BBDO
BCH	+ 0.79	BSAC
BSBR	+ 0.65	BSAC
AVAL	+ 0.61	CIB

High negative correlations

BSBR	- 0.85	BAP
BAP	- 0.78	BBDO
HMNF	- 0.68	BCH
HMNF	- 0.66	BSAC
HMNF	- 0.65	BSBR
BCH	- 0.65	BAP

Risk-Adjusted Indicators

There is a big difference between Foreign Stock performing well and Foreign Trade 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 Foreign Trade'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
BSAC	1.07	(0.14)	0.00	(0.18)	0.00	0.00	2.23	(2.46)	6.65
CIB	1.20	(0.02)	(0.05)	0.05	1.55	(1.23)	2.87	(2.12)	8.05
BBDO	1.54	(0.20)	0.00	0.80	0.00	0.00	2.80	(2.98)	10.00
BAP	1.05	0.21	0.14	0.43	0.97	(1.18)	2.64	(1.69)	6.10
BSBR	1.11	(0.43)	0.00	(0.81)	0.00	0.00	1.79	(3.17)	6.70
AVAL	0.96	(0.03)	0.00	(0.13)	0.00	0.00	2.46	(1.94)	6.64
BCH	0.88	(0.13)	0.00	1.44	0.00	0.00	1.86	(2.32)	5.69
HFBL	1.75	0.01	(0.01)	0.11	2.40	(3.13)	3.82	(4.31)	21.70
HMNF	1.88	0.38	0.13	2.31	1.85	(2.37)	4.29	(3.19)	13.15
HVBC	1.51	0.31	0.08	1.20	2.03	(1.59)	2.68	(4.11)	18.63

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC