Grupo Aval Correlations

Stocks . Germany . 
Stock . Grupo Aval Acciones
6GAA Stock   1.97  0.03  1.55%   
The current 90-days correlation between Grupo Aval Acciones and Apple Inc is 0.22 (i.e., Modest diversification). The correlation of Grupo Aval 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.

Grupo Aval Correlation With Market

Significant diversification

The correlation between Grupo Aval Acciones and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Aval Acciones and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Grupo Aval could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grupo Aval 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 Grupo Aval - 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 Grupo Aval Acciones to buy it.

Moving together with Grupo Stock

  0.92APC Apple IncPairCorr
  0.92APC Apple IncPairCorr
  0.92APC Apple IncPairCorr
  0.92APC Apple IncPairCorr
  0.91APC Apple IncPairCorr
  0.92APC Apple IncPairCorr
  0.78MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.936GAA Grupo Aval AccionesPairCorr
  0.89MFZA Mitsubishi UFJ FinancialPairCorr
  0.65E908 Lyxor 1PairCorr

Moving against Grupo Stock

  0.63HYU Hyundai MotorPairCorr
  0.6HYU Hyundai MotorPairCorr
  0.6HYU Hyundai MotorPairCorr
  0.54DBPD Xtrackers ShortDAXPairCorr
  0.36ECHA Ecopetrol SAPairCorr
  0.32ECHA Ecopetrol SAPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Grupo Stock performing well and Grupo Aval 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 Grupo Aval'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.00  0.23  0.09  1.56  1.16 
(1.07)
 2.12 
(1.96)
 6.17 
APC  0.96  0.23  0.09  1.24  1.21 
(1.02)
 2.09 
(2.07)
 6.90 
APC  0.93  0.20  0.10  0.64  1.05 
(1.00)
 2.21 
(1.83)
 5.72 
APC  1.03  0.24  0.08 (4.56) 1.27 
(1.09)
 2.24 
(2.12)
 9.79 
APC  1.08  0.27  0.12 (8.66) 0.97 
(1.30)
 2.96 
(2.01)
 8.21 
APC  0.94  0.24  0.10  4.87  1.13 
(1.04)
 2.29 
(1.78)
 7.12 
MSF  0.97  0.17  0.06  0.81  1.16 
(1.23)
 2.55 
(1.44)
 8.71 
MSF  1.00  0.18  0.06  1.50  1.28 
(1.18)
 2.35 
(1.56)
 9.11 
MSF  1.03  0.19  0.06  2.09  1.40 
(1.27)
 2.42 
(1.55)
 11.42 
MSF  0.98  0.21  0.07  4.41  1.26 
(1.10)
 2.04 
(1.48)
 8.79 

Be your own money manager

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