Guararapes Confeces Correlations

GUAR3 Stock

BRL 6.19 0.41 6.21%

The current 90-days correlation between Guararapes Confeces and Engie Brasil Energia is 0.32 (i.e., Weak diversification). The correlation of Guararapes Confeces 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.

Guararapes Confeces Correlation With Market

Modest diversification

The correlation between Guararapes Confeces SA and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guararapes Confeces SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guararapes Stock

0.69

SOND5

Sondotcnica Engenharia

Pair Corr

Moving against Guararapes Stock

0.77	AAPL34	Apple Inc	Pair Corr
0.65	FHER3	Fertilizantes Heringer	Pair Corr
0.57	HONB34	Honeywell International	Pair Corr
0.55	EKTR4	Elektro Redes SA	Pair Corr
0.55	ACNB34	Accenture plc	Pair Corr
0.44	UNIP5	Unipar Carbocloro	Pair Corr
0.31	BMKS3	Bicicletas Monark	Pair Corr
0.77	A1VY34	A1VY34	Pair Corr
0.72	MSFT34	Microsoft	Pair Corr
0.68	WALM34	Walmart	Pair Corr
0.68	TSLA34	Tesla Inc	Pair Corr
0.67	COWC34	Costco Wholesale	Pair Corr
0.63	AMZO34	Amazon Inc	Pair Corr
0.62	P2LT34	Palantir Technologies	Pair Corr
0.57	SSFO34	salesforce inc	Pair Corr
0.53	CAON34	Capital One Financial	Pair Corr
0.53	VISA34	Visa Inc	Pair Corr
0.49	CTKA3	Karsten SA	Pair Corr
0.48	TSMC34	Taiwan Semiconductor	Pair Corr
0.45	A1VB34	AvalonBay Communities	Pair Corr
0.36	MSBR34	Morgan Stanley	Pair Corr

Related Correlations Analysis

	EGIE3	GRND3	MDIA3	BTLG11	PLPL3	S1YM34	C1AB34	ATMP3	B1TI34	BUSR39
EGIE3		0.46	0.89	0.8	0.64	-0.83	-0.85	0.88	-0.84	-0.77	EGIE3
GRND3	0.46		0.3	0.31	0.01	-0.34	-0.29	0.51	-0.18	-0.41	GRND3
MDIA3	0.89	0.3		0.85	0.79	-0.71	-0.76	0.82	-0.92	-0.74	MDIA3
BTLG11	0.8	0.31	0.85		0.74	-0.64	-0.66	0.84	-0.81	-0.68	BTLG11
PLPL3	0.64	0.01	0.79	0.74		-0.49	-0.5	0.63	-0.78	-0.37	PLPL3
S1YM34	-0.83	-0.34	-0.71	-0.64	-0.49		0.91	-0.77	0.79	0.71	S1YM34
C1AB34	-0.85	-0.29	-0.76	-0.66	-0.5	0.91		-0.78	0.83	0.84	C1AB34
ATMP3	0.88	0.51	0.82	0.84	0.63	-0.77	-0.78		-0.79	-0.74	ATMP3
B1TI34	-0.84	-0.18	-0.92	-0.81	-0.78	0.79	0.83	-0.79		0.79	B1TI34
BUSR39	-0.77	-0.41	-0.74	-0.68	-0.37	0.71	0.84	-0.74	0.79		BUSR39
	EGIE3	GRND3	MDIA3	BTLG11	PLPL3	S1YM34	C1AB34	ATMP3	B1TI34	BUSR39

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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

C1AB34	+ 0.91	S1YM34
MDIA3	+ 0.89	EGIE3
ATMP3	+ 0.88	EGIE3
BTLG11	+ 0.85	MDIA3
ATMP3	+ 0.84	BTLG11
BUSR39	+ 0.84	C1AB34

High negative correlations

B1TI34	- 0.92	MDIA3
C1AB34	- 0.85	EGIE3
B1TI34	- 0.84	EGIE3
S1YM34	- 0.83	EGIE3
B1TI34	- 0.81	BTLG11
B1TI34	- 0.79	ATMP3

Risk-Adjusted Indicators

There is a big difference between Guararapes Stock performing well and Guararapes Confeces 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 Guararapes Confeces' 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
EGIE3	0.93	(0.29)	0.00	(6.88)	0.00	0.00	1.38	(2.61)	4.85
GRND3	1.25	(0.21)	0.00	(1.81)	0.00	0.00	2.38	(3.28)	8.82
MDIA3	1.88	(0.36)	0.00	(1.15)	0.00	0.00	3.89	(5.33)	10.70
BTLG11	0.91	(0.10)	0.00	(0.39)	0.00	0.00	1.51	(2.15)	8.00
PLPL3	2.05	(0.45)	0.00	(0.84)	0.00	0.00	3.24	(4.27)	13.45
S1YM34	0.92	0.49	0.00	(0.85)	0.00	0.00	0.52	0.00	28.38
C1AB34	1.35	0.37	0.09	(0.87)	1.89	(1.71)	4.00	(4.48)	13.73
ATMP3	2.61	(0.41)	0.00	(1.88)	0.00	0.00	4.86	(5.31)	17.16
B1TI34	1.09	0.20	0.11	(4.22)	1.19	(1.23)	2.66	(2.16)	8.08
BUSR39	1.03	0.08	0.02	(0.31)	1.50	(1.05)	2.46	(2.50)	8.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guararapes Confeces 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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Guararapes Confeces Corporate Executives

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

Oswaldo Nunes

CFO, Chief Administrative Officer

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