S1YM34 Correlations

S1YM34 Stock

BRL 178.93 0.00 0.00%

The current 90-days correlation between S1YM34 and S1NP34 is -0.13 (i.e., Good diversification). The correlation of S1YM34 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.

S1YM34 Correlation With Market

Good diversification

The correlation between S1YM34 and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding S1YM34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to S1YM34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace S1YM34 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 S1YM34 - 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 S1YM34 to buy it.

Moving together with S1YM34 Stock

0.8	S1NP34	S1NP34	Pair Corr
0.88	F1TN34	Fortinet	Pair Corr
0.88	S2QU34	Block Inc	Pair Corr
0.69	O1KT34	Okta Inc	Pair Corr
0.82	W1IX34	Wix	Pair Corr
0.88	P2LT34	Palantir Technologies	Pair Corr
0.75	HALI34	HALI34	Pair Corr
0.9	N1CL34	Norwegian Cruise Line	Pair Corr
0.9	R1CL34	Royal Caribbean Cruises	Pair Corr
0.7	PSSA3	Porto Seguro SA	Pair Corr
0.8	CTKA3	Karsten SA	Pair Corr
0.83	TSLA34	Tesla Inc	Pair Corr
0.92	CAON34	Capital One Financial	Pair Corr
0.85	COWC34	Costco Wholesale	Pair Corr
0.68	MSFT34	Microsoft	Pair Corr
0.91	VISA34	Visa Inc	Pair Corr
0.84	WALM34	Walmart	Pair Corr
0.88	MSBR34	Morgan Stanley	Pair Corr
0.86	AMZO34	Amazon Inc	Pair Corr
0.87	HONB34	Honeywell International	Pair Corr
0.68	AAPL34	Apple Inc	Pair Corr
0.9	GGBR3	Gerdau SA	Pair Corr
0.81	A1VB34	AvalonBay Communities	Pair Corr

Moving against S1YM34 Stock

0.59	A1PA34	APA Corporation	Pair Corr
0.53	PAGS34	PagSeguro Digital	Pair Corr
0.53	LWSA3	Locaweb Servios de	Pair Corr
0.38	D1VN34	Devon Energy	Pair Corr

Related Correlations Analysis

	ADBE34	S1NP34	F1TN34	S2QU34	A1KA34	S1YM34	O1KT34	W1IX34	PAGS34	LWSA3
ADBE34		0.58	0.64	0.67	0.05	0.56	0.59	0.67	-0.1	-0.38	ADBE34
S1NP34	0.58		0.77	0.78	-0.06	0.8	0.58	0.7	-0.27	-0.36	S1NP34
F1TN34	0.64	0.77		0.96	0.1	0.88	0.88	0.93	-0.63	-0.68	F1TN34
S2QU34	0.67	0.78	0.96		0.13	0.88	0.85	0.94	-0.61	-0.67	S2QU34
A1KA34	0.05	-0.06	0.1	0.13		-0.03	0.38	0.17	-0.23	-0.24	A1KA34
S1YM34	0.56	0.8	0.88	0.88	-0.03		0.69	0.82	-0.53	-0.53	S1YM34
O1KT34	0.59	0.58	0.88	0.85	0.38	0.69		0.86	-0.66	-0.8	O1KT34
W1IX34	0.67	0.7	0.93	0.94	0.17	0.82	0.86		-0.6	-0.73	W1IX34
PAGS34	-0.1	-0.27	-0.63	-0.61	-0.23	-0.53	-0.66	-0.6		0.77	PAGS34
LWSA3	-0.38	-0.36	-0.68	-0.67	-0.24	-0.53	-0.8	-0.73	0.77		LWSA3
	ADBE34	S1NP34	F1TN34	S2QU34	A1KA34	S1YM34	O1KT34	W1IX34	PAGS34	LWSA3

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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

S2QU34	+ 0.96	F1TN34
W1IX34	+ 0.94	S2QU34
W1IX34	+ 0.93	F1TN34
S1YM34	+ 0.88	F1TN34
O1KT34	+ 0.88	F1TN34
S1YM34	+ 0.88	S2QU34

High negative correlations

LWSA3	- 0.8	O1KT34
LWSA3	- 0.73	W1IX34
LWSA3	- 0.68	F1TN34
LWSA3	- 0.67	S2QU34
PAGS34	- 0.66	O1KT34
PAGS34	- 0.63	F1TN34

Risk-Adjusted Indicators

There is a big difference between S1YM34 Stock performing well and S1YM34 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 S1YM34'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
ADBE34	1.74	0.01	(0.01)	0.01	2.76	(1.75)	3.60	(5.05)	15.15
S1NP34	1.77	0.15	0.04	0.76	2.64	(1.93)	4.10	(3.31)	19.87
F1TN34	1.47	0.60	0.34	(1.30)	0.76	(2.40)	4.53	(1.99)	17.07
S2QU34	2.42	0.63	0.20	1.76	2.50	(3.21)	6.14	(3.47)	23.91
A1KA34	1.12	0.11	0.03	0.64	1.88	(2.60)	3.77	(1.71)	15.45
S1YM34	0.92	0.49	0.00	(0.85)	0.00	0.00	0.52	0.00	28.38
O1KT34	1.66	0.36	0.10	2.39	1.84	(3.24)	4.74	(3.19)	14.39
W1IX34	1.95	0.69	0.29	1.48	1.09	(3.18)	6.76	(3.33)	26.13
PAGS34	2.04	(0.43)	0.00	(3.74)	0.00	0.00	3.53	(4.57)	14.46
LWSA3	2.46	(0.35)	0.00	(0.32)	0.00	0.00	4.42	(4.28)	17.34

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Our tools can tell you how much better you can do entering a position in S1YM34 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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