HALI34 Correlations

HALI34 Stock

BRL 157.76 38.87 19.77%

The current 90-days correlation between HALI34 and Schlumberger Limited is 0.46 (i.e., Very weak diversification). The correlation of HALI34 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.

HALI34 Correlation With Market

Modest diversification

The correlation between HALI34 and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HALI34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HALI34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HALI34 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 HALI34 - 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 HALI34 to buy it.

Moving together with HALI34 Stock

0.64	SLBG34	Schlumberger Limited	Pair Corr
0.61	MOAR3	Monteiro Aranha SA	Pair Corr
0.91	AMZO34	Amazon Inc	Pair Corr
0.76	GGBR3	Gerdau SA	Pair Corr
0.7	FHER3	Fertilizantes Heringer	Pair Corr
0.95	COWC34	Costco Wholesale	Pair Corr
0.63	PSSA3	Porto Seguro SA	Pair Corr
0.91	CAON34	Capital One Financial	Pair Corr
0.8	ACNB34	Accenture plc	Pair Corr
0.81	A1VB34	AvalonBay Communities	Pair Corr
0.88	MSFT34	Microsoft	Pair Corr
0.92	AAPL34	Apple Inc	Pair Corr
0.74	TSMC34	Taiwan Semiconductor	Pair Corr
0.9	TSLA34	Tesla Inc	Pair Corr
0.8	CTKA3	Karsten SA	Pair Corr
0.88	VISA34	Visa Inc	Pair Corr
0.8	MSBR34	Morgan Stanley	Pair Corr
0.79	A1VY34	A1VY34	Pair Corr
0.91	HONB34	Honeywell International	Pair Corr
0.95	WALM34	Walmart	Pair Corr

Moving against HALI34 Stock

0.92	RBED11	Aesapar Fundo de	Pair Corr
0.88	MBRF11	Fundo De Investimento	Pair Corr
0.87	FIGS11	Fundo de Investimento	Pair Corr
0.85	HGBS11	HEDGE Brasil Shopping	Pair Corr
0.8	CARE11	Mxima Renda Corporativa	Pair Corr
0.78	HGLG11	Cshg Logistica	Pair Corr

Related Correlations Analysis

	SLBG34	BTLG11	PLPL3	C1AB34	ATMP3	B1TI34	BUSR39	BIYE39	WUNI34	COPH34
SLBG34		-0.28	-0.08	0.64	-0.49	0.42	0.6	0.81	-0.18	0.52	SLBG34
BTLG11	-0.28		0.62	-0.65	0.82	-0.68	-0.61	-0.46	-0.19	-0.17	BTLG11
PLPL3	-0.08	0.62		-0.55	0.6	-0.8	-0.45	-0.24	-0.52	0.02	PLPL3
C1AB34	0.64	-0.65	-0.55		-0.79	0.83	0.83	0.87	-0.05	0.57	C1AB34
ATMP3	-0.49	0.82	0.6	-0.79		-0.76	-0.77	-0.69	-0.07	-0.4	ATMP3
B1TI34	0.42	-0.68	-0.8	0.83	-0.76		0.81	0.6	0.32	0.21	B1TI34
BUSR39	0.6	-0.61	-0.45	0.83	-0.77	0.81		0.73	0.11	0.34	BUSR39
BIYE39	0.81	-0.46	-0.24	0.87	-0.69	0.6	0.73		-0.28	0.78	BIYE39
WUNI34	-0.18	-0.19	-0.52	-0.05	-0.07	0.32	0.11	-0.28		-0.58	WUNI34
COPH34	0.52	-0.17	0.02	0.57	-0.4	0.21	0.34	0.78	-0.58		COPH34
	SLBG34	BTLG11	PLPL3	C1AB34	ATMP3	B1TI34	BUSR39	BIYE39	WUNI34	COPH34

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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

BIYE39	+ 0.87	C1AB34
B1TI34	+ 0.83	C1AB34
BUSR39	+ 0.83	C1AB34
ATMP3	+ 0.82	BTLG11
BIYE39	+ 0.81	SLBG34
BUSR39	+ 0.81	B1TI34

High negative correlations

B1TI34	- 0.8	PLPL3
ATMP3	- 0.79	C1AB34
BUSR39	- 0.77	ATMP3
B1TI34	- 0.76	ATMP3
BIYE39	- 0.69	ATMP3
B1TI34	- 0.68	BTLG11

Risk-Adjusted Indicators

There is a big difference between HALI34 Stock performing well and HALI34 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 HALI34'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
SLBG34	1.47	0.04	0.01	0.14	2.02	(1.48)	2.99	(3.43)	11.85
BTLG11	0.77	(0.17)	0.00	(1.37)	0.00	0.00	1.20	(2.15)	8.00
PLPL3	1.99	(0.39)	0.00	(0.49)	0.00	0.00	3.24	(4.22)	13.45
C1AB34	1.36	0.36	0.10	(0.86)	1.89	(1.71)	4.00	(4.48)	13.73
ATMP3	2.60	(0.56)	0.00	20.22	0.00	0.00	4.86	(5.73)	16.22
B1TI34	1.04	0.19	0.13	(2.46)	1.05	(1.21)	2.66	(1.94)	5.19
BUSR39	1.05	0.01	(0.01)	(0.02)	1.63	(1.03)	2.46	(2.73)	7.57
BIYE39	0.91	0.11	0.07	(4.40)	0.93	(1.15)	2.97	(1.72)	6.60
WUNI34	0.89	0.07	0.01	(0.10)	1.29	(1.45)	1.47	(2.75)	9.55
COPH34	1.41	0.00	0.00	0.04	0.00	0.00	3.56	(3.89)	12.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in HALI34 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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