BRASKEM Correlations
| 10554TAB1 | 93.65 0.20 0.21% |
The current 90-days correlation between BRASKEM NETH FIN and Neogen is 0.17 (i.e., Average diversification). The correlation of BRASKEM 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.
BRASKEM Correlation With Market
Average diversification
The correlation between BRASKEM NETH FIN and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BRASKEM NETH FIN and DJI in the same portfolio, assuming nothing else is changed.
BRASKEM |
The ability to find closely correlated positions to BRASKEM could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BRASKEM 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 BRASKEM - 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 BRASKEM NETH FIN to buy it.
Moving together with BRASKEM Bond
| 0.85 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.77 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.78 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.81 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.8 | ELFNX | Elfun Trusts Elfun | PairCorr |
| 0.62 | HPQ | HP Inc | PairCorr |
| 0.73 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.83 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.7 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.84 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.8 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.81 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
Moving against BRASKEM Bond
| 0.81 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.79 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.75 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.4 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
| 0.38 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
| -0.34 | -0.3 | -0.13 | 0.31 | -0.37 | NEOG | ||
| -0.34 | 0.79 | 0.82 | -0.36 | -0.1 | RDNT | ||
| -0.3 | 0.79 | 0.85 | -0.24 | 0.17 | SAIA | ||
| -0.13 | 0.82 | 0.85 | -0.15 | -0.23 | MMSI | ||
| 0.31 | -0.36 | -0.24 | -0.15 | -0.27 | SNDA | ||
| -0.37 | -0.1 | 0.17 | -0.23 | -0.27 | ALVO | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between BRASKEM Bond performing well and BRASKEM Corporate Bond 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 BRASKEM'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NEOG | 2.26 | (0.45) | 0.00 | (0.16) | 0.00 | 4.09 | 12.51 | |||
| RDNT | 1.96 | 0.46 | 0.16 | (1.63) | 1.56 | 3.77 | 22.39 | |||
| SAIA | 2.10 | 0.11 | 0.12 | 0.16 | 2.01 | 3.84 | 18.12 | |||
| MMSI | 0.87 | 0.07 | 0.01 | 0.25 | 0.85 | 2.07 | 6.42 | |||
| SNDA | 2.31 | (0.21) | 0.00 | (0.03) | 0.00 | 5.59 | 12.89 | |||
| ALVO | 1.19 | 0.07 | (0.04) | (0.34) | 1.42 | 3.15 | 8.63 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BRASKEM 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.Did you try this?
Run Equity Search Now
Equity SearchSearch for actively traded equities including funds and ETFs from over 30 global markets |
| All Next | Launch Module |