VALE3F Correlations

VALE3F Stock

83.82 1.41 1.65%

The current 90-days correlation between VALE3F and Log In Logstica Intermodal is -0.06 (i.e., Good diversification). The correlation of VALE3F 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.

VALE3F Correlation With Market

Very poor diversification

The correlation between VALE3F and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VALE3F and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to VALE3F could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VALE3F 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 VALE3F - 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 VALE3F to buy it.

Moving together with VALE3F Stock

0.87	TSMC34	Taiwan Semiconductor	Pair Corr
0.65	B1SA34	Banco Santander Chile	Pair Corr
0.65	H1SB34	HSBC Holdings plc	Pair Corr
0.75	WALM34	Walmart	Pair Corr
0.85	UPSS34	United Parcel Service	Pair Corr
0.7	HOME34	Home Depot Earnings Call This Week	Pair Corr
0.8	TGTB34	Target	Pair Corr
0.86	SBUB34	Starbucks	Pair Corr
0.77	TMCO34	Toyota Motor	Pair Corr
0.94	MUTC34	Micron Technology	Pair Corr
0.84	LUPA3	Lupatech SA	Pair Corr
0.65	B1TI34	British American Tobacco	Pair Corr
0.74	BBSE3	BB Seguridade Partic	Pair Corr
0.76	MRCK34	Merck	Pair Corr
0.93	ITUB4	Ita Unibanco Holding Split	Pair Corr
0.93	CXSE3	Caixa Seguridade Par Earnings Call This Week	Pair Corr
0.79	BBAS3	Banco do Brasil	Pair Corr
0.83	L1HX34	L3Harris Technologies	Pair Corr
0.84	M1CH34	Microchip Technology	Pair Corr
0.9	HALI34	Halliburton	Pair Corr
0.9	RANI3	Irani Papel e	Pair Corr

Moving against VALE3F Stock

0.54	BERK34	Berkshire Hathaway Earnings Call Tomorrow	Pair Corr
0.46	AAPL34	Apple Inc	Pair Corr
0.42	K1RC34	The Kroger	Pair Corr
0.38	MSFT34	Microsoft	Pair Corr
0.74	JDCO34	JD Inc	Pair Corr
0.54	C1AB34	Cable One	Pair Corr
0.35	Z1BR34	Zebra Technologies	Pair Corr

Related Correlations Analysis

	POMO3	POMO4	VAMO3	ORVR3	IGTI3	MILS3	LOGN3
POMO3		0.97	0.3	0.65	0.44	0.5	-0.31	POMO3
POMO4	0.97		0.42	0.61	0.56	0.59	-0.35	POMO4
VAMO3	0.3	0.42		0.03	0.81	0.63	-0.25	VAMO3
ORVR3	0.65	0.61	0.03		0.23	0.49	-0.38	ORVR3
IGTI3	0.44	0.56	0.81	0.23		0.79	-0.51	IGTI3
MILS3	0.5	0.59	0.63	0.49	0.79		-0.64	MILS3
LOGN3	-0.31	-0.35	-0.25	-0.38	-0.51	-0.64		LOGN3
	POMO3	POMO4	VAMO3	ORVR3	IGTI3	MILS3	LOGN3

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

POMO4	+ 0.97	POMO3
IGTI3	+ 0.81	VAMO3
MILS3	+ 0.79	IGTI3
ORVR3	+ 0.65	POMO3
MILS3	+ 0.63	VAMO3
ORVR3	+ 0.61	POMO4

High negative correlations

LOGN3	- 0.64	MILS3
LOGN3	- 0.51	IGTI3
LOGN3	- 0.38	ORVR3
LOGN3	- 0.35	POMO4
LOGN3	- 0.31	POMO3
LOGN3	- 0.25	VAMO3

Risk-Adjusted Indicators

There is a big difference between VALE3F Stock performing well and VALE3F 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 VALE3F'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
POMO3	1.90	0.34	0.08	1.46	2.91	(2.14)	4.20	(3.31)	26.17
POMO4	1.77	0.20	0.06	0.37	2.78	(1.90)	3.44	(2.65)	24.59
VAMO3	2.66	0.56	0.18	0.75	2.70	(3.41)	7.49	(5.26)	17.27
ORVR3	1.26	0.34	0.15	(0.41)	1.47	(1.43)	2.82	(3.02)	10.13
IGTI3	1.74	0.31	0.08	30.96	2.40	(1.87)	4.14	(3.64)	14.16
MILS3	1.22	0.36	0.18	(0.76)	1.18	(1.42)	2.95	(2.31)	7.99
LOGN3	1.05	(0.09)	0.00	(0.40)	0.00	0.00	3.19	(3.03)	15.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in VALE3F 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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