PBG SA Correlations

PTBL3 Stock

BRL 4.58 0.02 0.43%

The current 90-days correlation between PBG SA and METISA Metalrgica Timboense is 0.24 (i.e., Modest diversification). The correlation of PBG 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.

PBG SA Correlation With Market

Modest diversification

The correlation between PBG SA and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PBG SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PBG 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 PBG 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 PBG 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 PBG SA to buy it.

Moving together with PBG Stock

0.73	ITUB3	Ita Unibanco Holding	Pair Corr
0.71	ITUB4	Ita Unibanco Holding	Pair Corr

Moving against PBG Stock

0.83	TSMC34	Taiwan Semiconductor	Pair Corr
0.73	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.68	AAPL34	Apple Inc	Pair Corr
0.48	BABA34	Alibaba Group Holding	Pair Corr
0.33	SNEC34	Sony Group Split	Pair Corr

Related Correlations Analysis

	MTSA4	LUPA3	RCSL4	FRAS3	CLIN11	BTLG11	E1RI34	C1AB34	RAPT3	GOGL35
MTSA4		0.69	-0.78	-0.68	0.4	0.91	-0.76	-0.52	-0.67	-0.72	MTSA4
LUPA3	0.69		-0.32	-0.33	0.28	0.57	-0.29	-0.28	-0.25	-0.35	LUPA3
RCSL4	-0.78	-0.32		0.67	-0.26	-0.76	0.94	0.67	0.83	0.8	RCSL4
FRAS3	-0.68	-0.33	0.67		-0.21	-0.76	0.74	0.09	0.69	0.4	FRAS3
CLIN11	0.4	0.28	-0.26	-0.21		0.48	-0.24	-0.21	-0.15	-0.25	CLIN11
BTLG11	0.91	0.57	-0.76	-0.76	0.48		-0.79	-0.38	-0.7	-0.67	BTLG11
E1RI34	-0.76	-0.29	0.94	0.74	-0.24	-0.79		0.59	0.9	0.79	E1RI34
C1AB34	-0.52	-0.28	0.67	0.09	-0.21	-0.38	0.59		0.61	0.78	C1AB34
RAPT3	-0.67	-0.25	0.83	0.69	-0.15	-0.7	0.9	0.61		0.78	RAPT3
GOGL35	-0.72	-0.35	0.8	0.4	-0.25	-0.67	0.79	0.78	0.78		GOGL35
	MTSA4	LUPA3	RCSL4	FRAS3	CLIN11	BTLG11	E1RI34	C1AB34	RAPT3	GOGL35

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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

E1RI34	+ 0.94	RCSL4
BTLG11	+ 0.91	MTSA4
RAPT3	+ 0.9	E1RI34
RAPT3	+ 0.83	RCSL4
GOGL35	+ 0.8	RCSL4
GOGL35	+ 0.79	E1RI34

High negative correlations

E1RI34	- 0.79	BTLG11
RCSL4	- 0.78	MTSA4
BTLG11	- 0.76	FRAS3
BTLG11	- 0.76	RCSL4
E1RI34	- 0.76	MTSA4
GOGL35	- 0.72	MTSA4

Risk-Adjusted Indicators

There is a big difference between PBG Stock performing well and PBG 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 PBG 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MTSA4	1.73	(0.32)	0.00	(1.60)	0.00	0.00	3.01	(3.40)	9.25
LUPA3	1.51	(0.15)	0.00	(0.17)	0.00	0.00	3.52	(3.60)	17.30
RCSL4	4.43	1.64	0.19	(3.65)	5.24	(5.26)	13.33	(5.31)	49.02
FRAS3	1.06	0.22	0.08	19.95	1.07	(1.22)	2.80	(1.71)	8.74
CLIN11	0.67	(0.04)	0.00	0.53	0.00	0.00	1.01	(1.58)	4.19
BTLG11	0.52	(0.10)	0.00	(1.44)	0.00	0.00	0.98	(1.29)	4.73
E1RI34	1.24	0.22	0.10	0.70	0.87	(2.11)	3.48	(2.09)	16.05
C1AB34	1.48	0.29	0.11	0.43	1.28	(2.51)	4.35	(2.60)	14.25
RAPT3	1.23	0.07	(0.01)	0.40	1.37	(1.37)	2.43	(2.47)	9.30
GOGL35	1.23	0.11	(0.02)	(0.47)	1.59	(1.33)	2.59	(2.88)	8.33

Be your own money manager

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