Metalfrio Solutions Correlations

FRIO3 Stock

BRL 177.99 9.99 5.95%

The current 90-days correlation between Metalfrio Solutions and Transocean is -0.19 (i.e., Good diversification). The correlation of Metalfrio Solutions 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.

Metalfrio Solutions Correlation With Market

Good diversification

The correlation between Metalfrio Solutions SA and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metalfrio Solutions SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Metalfrio Stock

0.63	TSLA34	Tesla Inc	Pair Corr
0.62	A1VB34	AvalonBay Communities	Pair Corr

Moving against Metalfrio Stock

0.64	HOND34	Honda Motor	Pair Corr
0.55	BABA34	Alibaba Group Holding	Pair Corr
0.37	ITUB4	Ita Unibanco Holding	Pair Corr
0.36	ITUB3	Ita Unibanco Holding	Pair Corr

Related Correlations Analysis

	A1PA34	RIGG34	P2LT34	HALI34	N1CL34	R1CL34	D1VN34	S2QU34	J1WN34
A1PA34		-0.18	-0.47	-0.27	-0.38	-0.41	0.61	-0.43	-0.2	A1PA34
RIGG34	-0.18		0.19	0.26	0.34	0.26	0.35	0.23	0.05	RIGG34
P2LT34	-0.47	0.19		0.89	0.89	0.96	-0.51	0.97	0.65	P2LT34
HALI34	-0.27	0.26	0.89		0.8	0.87	-0.33	0.9	0.55	HALI34
N1CL34	-0.38	0.34	0.89	0.8		0.97	-0.24	0.92	0.68	N1CL34
R1CL34	-0.41	0.26	0.96	0.87	0.97		-0.36	0.97	0.72	R1CL34
D1VN34	0.61	0.35	-0.51	-0.33	-0.24	-0.36		-0.41	-0.36	D1VN34
S2QU34	-0.43	0.23	0.97	0.9	0.92	0.97	-0.41		0.67	S2QU34
J1WN34	-0.2	0.05	0.65	0.55	0.68	0.72	-0.36	0.67		J1WN34
	A1PA34	RIGG34	P2LT34	HALI34	N1CL34	R1CL34	D1VN34	S2QU34	J1WN34

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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	+ 0.97	P2LT34
R1CL34	+ 0.97	N1CL34
S2QU34	+ 0.97	R1CL34
R1CL34	+ 0.96	P2LT34
S2QU34	+ 0.92	N1CL34
S2QU34	+ 0.9	HALI34

High negative correlations

D1VN34	- 0.51	P2LT34
P2LT34	- 0.47	A1PA34
S2QU34	- 0.43	A1PA34
S2QU34	- 0.41	D1VN34
R1CL34	- 0.41	A1PA34
N1CL34	- 0.38	A1PA34

Risk-Adjusted Indicators

There is a big difference between Metalfrio Stock performing well and Metalfrio Solutions 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 Metalfrio Solutions' 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
A1PA34	1.24	(0.07)	0.00	0.19	0.00	0.00	3.69	(5.59)	16.52
RIGG34	2.27	(0.15)	0.00	(0.36)	0.00	0.00	3.83	(4.68)	17.48
P2LT34	2.82	1.37	0.59	0.66	1.54	(3.52)	7.31	(3.44)	26.68
HALI34	1.30	0.07	0.00	(0.11)	3.23	(2.11)	4.25	(3.94)	10.50
N1CL34	1.73	0.54	0.21	(9.60)	1.47	(2.62)	6.30	(2.86)	19.33
R1CL34	1.50	0.67	0.35	2.20	1.26	(1.86)	4.45	(2.55)	12.30
D1VN34	1.21	(0.19)	0.00	5.55	0.00	0.00	2.75	(3.48)	9.80
S2QU34	2.45	0.67	0.22	44.08	2.54	(3.27)	6.14	(3.47)	23.91
J1WN34	0.67	0.12	0.04	0.39	0.80	(2.14)	0.55	(1.95)	16.82

Be your own money manager

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