Vale SA Correlations

CVLB Stock

EUR 9.08 0.14 1.52%

The current 90-days correlation between Vale SA and Commonwealth Bank of is -0.08 (i.e., Good diversification). The correlation of Vale 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.

Vale SA Correlation With Market

Good diversification

The correlation between Vale SA and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vale SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Vale Stock

0.93	BHP1	BHP Group Limited	Pair Corr
0.93	BHP	BHP Group Limited	Pair Corr
0.88	RIOA	Rio Tinto Group	Pair Corr
0.92	RIO1	Rio Tinto Group	Pair Corr
0.97	CVLC	Vale SA	Pair Corr
0.87	8GCA	Glencore plc	Pair Corr
0.94	8GC	Glencore PLC	Pair Corr
0.64	NGLB	Anglo American plc	Pair Corr

Moving against Vale Stock

0.6

DBPD

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Pair Corr

Related Correlations Analysis

	CWW	JATA	BMT	0VD0	CAI	WED	5ZM	WA4
CWW		-0.15	0.64	-0.54	0.81	0.9	0.87	0.65	CWW
JATA	-0.15		0.33	-0.01	-0.27	-0.29	-0.25	-0.33	JATA
BMT	0.64	0.33		-0.67	0.28	0.4	0.39	0.04	BMT
0VD0	-0.54	-0.01	-0.67		-0.28	-0.38	-0.38	-0.14	0VD0
CAI	0.81	-0.27	0.28	-0.28		0.93	0.93	0.93	CAI
WED	0.9	-0.29	0.4	-0.38	0.93		0.96	0.85	WED
5ZM	0.87	-0.25	0.39	-0.38	0.93	0.96		0.83	5ZM
WA4	0.65	-0.33	0.04	-0.14	0.93	0.85	0.83		WA4
	CWW	JATA	BMT	0VD0	CAI	WED	5ZM	WA4

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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

5ZM	+ 0.96	WED
WED	+ 0.93	CAI
5ZM	+ 0.93	CAI
WA4	+ 0.93	CAI
WED	+ 0.9	CWW
5ZM	+ 0.87	CWW

High negative correlations

0VD0	- 0.67	BMT
0VD0	- 0.54	CWW
5ZM	- 0.38	0VD0
WED	- 0.38	0VD0
WA4	- 0.33	JATA
WED	- 0.29	JATA

Risk-Adjusted Indicators

There is a big difference between Vale Stock performing well and Vale 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 Vale 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
CWW	1.05	0.12	0.05	0.31	1.21	(1.14)	2.20	(2.17)	6.17
JATA	1.16	0.01	(0.04)	0.20	1.53	(1.46)	1.67	(3.20)	9.99
BMT	0.99	0.17	(0.01)	(0.29)	1.27	(1.01)	2.41	(2.50)	6.32
0VD0	0.92	(0.10)	0.00	(0.20)	0.00	0.00	1.81	(2.59)	6.16
CAI	0.63	0.25	0.18	(5.87)	0.22	(0.76)	1.77	(0.88)	4.19
WED	2.08	0.28	0.19	0.27	1.60	(2.67)	4.72	(3.31)	20.23
5ZM	1.51	0.35	0.13	1.54	1.68	(1.80)	3.57	(2.70)	12.64
WA4	1.01	0.25	0.07	2.09	1.49	(1.06)	2.78	(1.71)	11.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Vale 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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Vale SA Corporate Management

Elected by the shareholders, the Vale SA's board of directors comprises two types of representatives: Vale SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Vale. The board's role is to monitor Vale SA's management team and ensure that shareholders' interests are well served. Vale SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Vale SA's outside directors are responsible for providing unbiased perspectives on the board's policies.

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