Ambev SA Correlations

ABEV Stock

USD 2.35 0.03 1.26%

The current 90-days correlation between Ambev SA ADR and Banco Bradesco SA is 0.34 (i.e., Weak diversification). The correlation of Ambev 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ambev SA Correlation With Market

Modest diversification

The correlation between Ambev SA ADR 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 Ambev SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ambev Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ambev SA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Ambev Stock

0.73	K	Kellanova Earnings Call This Week	Pair Corr
0.67	IMG	CIMG Inc Symbol Change	Pair Corr
0.77	SAM	Boston Beer Earnings Call This Week	Pair Corr
0.71	STZ	Constellation Brands	Pair Corr
0.62	TAP	Molson Coors Brewing	Pair Corr

Moving against Ambev Stock

0.69	RMCF	Rocky Mountain Chocolate	Pair Corr
0.68	JVA	Coffee Holding	Pair Corr
0.56	OTLY	Oatly Group AB	Pair Corr
0.53	JBSS	John B Sanfilippo	Pair Corr
0.52	VITL	Vital Farms	Pair Corr
0.51	LWAY	Lifeway Foods	Pair Corr
0.43	PM	Philip Morris Intern Earnings Call This Week	Pair Corr
0.4	KLG	WK Kellogg	Pair Corr
0.7	DTCK	Davis Commodities	Pair Corr
0.67	WILC	G Willi Food	Pair Corr
0.65	DLTR	Dollar Tree	Pair Corr
0.63	EL	Estee Lauder Companies Earnings Call This Week	Pair Corr
0.57	DG	Dollar General	Pair Corr
0.42	YQ	17 Education Technology	Pair Corr
0.4	FAMI	Farmmi Inc	Pair Corr
0.39	KR	Kroger Company	Pair Corr
0.37	CENTA	Central Garden Pet	Pair Corr

Related Correlations Analysis

	BBD	BRFS	CABGY	CCU	CIG	FMX	GGB	ITUB	TAP	TSGTY
BBD		-0.14	0.5	-0.88	0.88	-0.06	0.85	0.85	-0.9	-0.75	BBD
BRFS	-0.14		-0.13	0.06	0.07	0.02	0.13	-0.19	0.06	0.11	BRFS
CABGY	0.5	-0.13		-0.36	0.39	0.44	0.46	0.45	-0.31	-0.17	CABGY
CCU	-0.88	0.06	-0.36		-0.75	0.23	-0.8	-0.6	0.9	0.68	CCU
CIG	0.88	0.07	0.39	-0.75		-0.04	0.77	0.79	-0.82	-0.8	CIG
FMX	-0.06	0.02	0.44	0.23	-0.04		0.01	0.17	0.31	0.29	FMX
GGB	0.85	0.13	0.46	-0.8	0.77	0.01		0.68	-0.77	-0.68	GGB
ITUB	0.85	-0.19	0.45	-0.6	0.79	0.17	0.68		-0.64	-0.68	ITUB
TAP	-0.9	0.06	-0.31	0.9	-0.82	0.31	-0.77	-0.64		0.79	TAP
TSGTY	-0.75	0.11	-0.17	0.68	-0.8	0.29	-0.68	-0.68	0.79		TSGTY
	BBD	BRFS	CABGY	CCU	CIG	FMX	GGB	ITUB	TAP	TSGTY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TAP	+ 0.9	CCU
CIG	+ 0.88	BBD
GGB	+ 0.85	BBD
ITUB	+ 0.85	BBD
ITUB	+ 0.79	CIG
TSGTY	+ 0.79	TAP

High negative correlations

TAP	- 0.9	BBD
CCU	- 0.88	BBD
TAP	- 0.82	CIG
TSGTY	- 0.8	CIG
GGB	- 0.8	CCU
TAP	- 0.77	GGB

Risk-Adjusted Indicators

There is a big difference between Ambev Stock performing well and Ambev 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 Ambev 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
BBD	1.51	0.37	0.18	0.80	1.11	(1.99)	3.17	(2.43)	21.83
BRFS	2.28	(0.01)	(0.03)	0.11	2.68	(2.59)	3.92	(4.85)	13.42
CABGY	0.97	(0.01)	(0.08)	0.05	1.55	(0.88)	1.95	(2.40)	7.03
CCU	1.18	(0.39)	0.00	(1.13)	0.00	0.00	1.97	(2.68)	6.36
CIG	1.26	0.14	0.05	0.42	1.24	(1.62)	2.81	(2.14)	8.33
FMX	0.94	(0.04)	0.00	(0.22)	0.00	0.00	2.13	(2.13)	5.62
GGB	1.77	0.19	0.08	0.43	1.66	(2.32)	4.80	(3.17)	10.58
ITUB	1.18	0.11	0.04	0.33	1.22	(1.50)	2.70	(2.33)	10.38
TAP	0.94	(0.29)	0.00	(0.47)	0.00	0.00	1.39	(2.29)	6.37
TSGTY	2.28	(0.14)	0.00	(0.38)	0.00	0.00	6.46	(7.03)	15.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC