Klabin SA Correlations

Stocks . Brazil . 
Stock . Klabin SA
KLBN3 Stock  BRL 4.87  0.15  3.18%   
The current 90-days correlation between Klabin SA and Klabin SA is 0.8 (i.e., Very 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

Modest diversification

The correlation between Klabin SA and DJI is 0.2 (i.e., Modest 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

  0.95KLBN11 Klabin SAPairCorr
  0.9SUZB3 Suzano SAPairCorr
  0.75PETR3 Petrleo BrasileiroPairCorr
  0.74USIM6 Usinas SiderrgicasPairCorr
  0.78L1YV34 Live Nation EntertaiPairCorr
  0.87MRFG3 Marfrig Global FoodsPairCorr
  0.87S1MF34 Sumitomo Mitsui FinancialPairCorr
  0.75D1DG34 Datadog,PairCorr
  0.93AMZO34 Amazon IncPairCorr
  0.81J1EF34 Jefferies FinancialPairCorr
  0.91A1VY34 Avery DennisonPairCorr
  0.69Z1OM34 Zoom Video CommunicationsPairCorr

Moving against Klabin Stock

  0.83CYRE3 Cyrela Brazil RealtyPairCorr
  0.81HYPE3 Hypera SAPairCorr
  0.75OIBR4 Oi SAPairCorr
  0.65OIBR3 Oi SAPairCorr
  0.59RANI3 Irani Papel ePairCorr

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
+ 0.85
KLBN11
SUZB3
+ 0.8
KLBN4
ITSA3
+ 0.64
TAEE3
  
High negative correlations   
ITSA3
- 0.79
KLBN11
SUZB3
- 0.77
ITSA3
ITSA3
- 0.71
KLBN4
SUZB3
- 0.54
TAEE3
KLBN11
- 0.31
TAEE3
TAEE3
- 0.21
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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