SMTO3F Correlations

SMTO3F Stock

17.91 0.18 1.02%

The current 90-days correlation between SMTO3F and Berkshire Hathaway is -0.09 (i.e., Good diversification). The correlation of SMTO3F 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.

SMTO3F Correlation With Market

Poor diversification

The correlation between SMTO3F and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMTO3F and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SMTO3F could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SMTO3F 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 SMTO3F - 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 SMTO3F to buy it.

Moving together with SMTO3F Stock

0.77	TSMC34	Taiwan Semiconductor	Pair Corr
0.66	B1SA34	Banco Santander Chile	Pair Corr
0.82	H1SB34	HSBC Holdings plc	Pair Corr
0.72	JNJB34	Johnson Johnson	Pair Corr
0.71	EUCA4	Eucatex SA Indstria	Pair Corr
0.85	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.67	A1SN34	Ascendis Pharma AS	Pair Corr
0.72	VALE3F	VALE3F	Pair Corr
0.66	LUPA3	Lupatech SA	Pair Corr
0.83	KLBN3	Klabin SA Split	Pair Corr

Moving against SMTO3F Stock

0.67	ESTR4	Manufatura de Brinquedos	Pair Corr
0.66	ESTR3	Manufatura de Brinquedos	Pair Corr
0.6	AAPL34	Apple Inc	Pair Corr
0.56	MSFT34	Microsoft	Pair Corr
0.52	BERK34	Berkshire Hathaway	Pair Corr
0.37	P2LT34	Palantir Technologies	Pair Corr
0.31	AMZO34	Amazon Inc	Pair Corr
0.37	TF623	TF623	Pair Corr

Related Correlations Analysis

	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34
TSMC34		-0.68	-0.12	-0.79	0.78	-0.24	-0.09	-0.53	0.84	-0.69	TSMC34
AAPL34	-0.68		-0.25	0.57	-0.71	0.01	-0.02	0.21	-0.62	0.79	AAPL34
BABA34	-0.12	-0.25		0.24	0.18	0.67	0.58	0.5	-0.05	-0.25	BABA34
MSFT34	-0.79	0.57	0.24		-0.72	0.46	0.35	0.79	-0.67	0.71	MSFT34
B1SA34	0.78	-0.71	0.18	-0.72		0.0	0.13	-0.34	0.87	-0.76	B1SA34
GOGL35	-0.24	0.01	0.67	0.46	0.0		0.9	0.83	-0.03	0.12	GOGL35
GOGL34	-0.09	-0.02	0.58	0.35	0.13	0.9		0.73	0.12	0.05	GOGL34
AMZO34	-0.53	0.21	0.5	0.79	-0.34	0.83	0.73		-0.31	0.38	AMZO34
H1SB34	0.84	-0.62	-0.05	-0.67	0.87	-0.03	0.12	-0.31		-0.6	H1SB34
BERK34	-0.69	0.79	-0.25	0.71	-0.76	0.12	0.05	0.38	-0.6		BERK34
	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34

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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

GOGL34	+ 0.9	GOGL35
H1SB34	+ 0.87	B1SA34
H1SB34	+ 0.84	TSMC34
AMZO34	+ 0.83	GOGL35
BERK34	+ 0.79	AAPL34
AMZO34	+ 0.79	MSFT34

High negative correlations

MSFT34	- 0.79	TSMC34
BERK34	- 0.76	B1SA34
B1SA34	- 0.72	MSFT34
B1SA34	- 0.71	AAPL34
BERK34	- 0.69	TSMC34
AAPL34	- 0.68	TSMC34

Risk-Adjusted Indicators

There is a big difference between SMTO3F Stock performing well and SMTO3F 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 SMTO3F'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
TSMC34	1.71	0.35	0.16	0.75	1.53	(1.92)	4.09	(2.92)	10.38
AAPL34	1.20	(0.07)	0.00	0.70	0.00	0.00	2.78	(2.86)	9.45
BABA34	1.94	(0.23)	0.00	(0.36)	0.00	0.00	4.89	(3.29)	14.44
MSFT34	1.42	(0.36)	0.00	(10.91)	0.00	0.00	2.36	(3.82)	11.51
B1SA34	1.35	0.17	0.04	3.85	1.82	(1.58)	2.70	(2.54)	12.08
GOGL35	1.39	0.01	(0.04)	0.12	1.57	(1.61)	3.14	(3.02)	10.20
GOGL34	1.52	0.05	0.00	0.24	1.72	(1.66)	3.24	(2.87)	10.40
AMZO34	1.51	(0.14)	0.00	6.48	0.00	0.00	3.16	(3.14)	14.54
H1SB34	1.22	0.36	0.20	1.11	1.14	(1.38)	3.65	(2.24)	9.65
BERK34	0.89	(0.03)	0.00	0.23	0.00	0.00	1.96	(1.83)	6.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in SMTO3F 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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