Klabin SA Correlations

Stocks . Brazil . 
Stock . Klabin SA
KLBN3 Stock  BRL 4.55  0.12  2.71%   
The current 90-days correlation between Klabin SA and Klabin SA is 0.79 (i.e., Poor diversification). The correlation of Klabin SA 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.

Klabin SA Correlation With Market

Significant diversification

The correlation between Klabin SA and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Klabin SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Klabin SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Klabin SA 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 Klabin SA - 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 Klabin SA to buy it.

Moving together with Klabin Stock

  0.92KLBN11 Klabin SAPairCorr
  0.85SUZB3 Suzano SAPairCorr
  0.67J1WN34 NordstromPairCorr
  0.87M1LM34 Martin Marietta MatePairCorr
  0.68DBAG34 Deutsche Bank AktienPairCorr
  0.9B1BW34 Bath Body WorksPairCorr
  0.79C1CL34 Carnival plcPairCorr
  0.66NFLX34 NetflixPairCorr
  0.84S1MF34 Sumitomo Mitsui FinancialPairCorr
  0.74WALM34 WalmartPairCorr
  0.69A1NE34 Arista Networks SplitPairCorr
  0.79P2LN34 Planet FitnessPairCorr
  0.74B1NT34 BIONTECH SE DRNPairCorr

Moving against Klabin Stock

  0.76RBED11 Aesapar Fundo dePairCorr
  0.65MBRF11 Fundo De InvestimentoPairCorr
  0.65HGBS11 HEDGE Brasil ShoppingPairCorr
  0.49FIGS11 Fundo de InvestimentoPairCorr
  0.33SHUL4 Schulz SAPairCorr
  0.64CRFB3 Atacado SAPairCorr

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   
KLBN11
+ 0.98
KLBN4
SUZB3
+ 0.81
KLBN11
SUZB3
+ 0.77
KLBN4
ITSA3
+ 0.52
TAEE3
  
High negative correlations   
ITSA3
- 0.73
KLBN11
SUZB3
- 0.68
ITSA3
ITSA3
- 0.67
KLBN4
SUZB3
- 0.41
TAEE3
KLBN11
- 0.15
TAEE3
TAEE3
- 0.03
KLBN4

Risk-Adjusted Indicators

There is a big difference between Klabin Stock performing well and Klabin SA 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 Klabin SA'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 Klabin SA 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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