Baumer SA Correlations

Stocks . Brazil . 
Stock . Baumer SA
BALM3 Stock  BRL 21.00  1.10  5.53%   
The current 90-days correlation between Baumer SA and Baumer SA is 0.18 (i.e., Average diversification). The correlation of Baumer 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.

Baumer SA Correlation With Market

Average diversification

The correlation between Baumer SA and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Baumer SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Baumer SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Baumer SA 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 Baumer SA - 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 Baumer SA to buy it.

Moving together with Baumer Stock

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  0.74P2AX34 Patria InvestmentsPairCorr
  0.74PSSA3 Porto Seguro SAPairCorr
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  0.81NVDC34 NVIDIAPairCorr
  0.64GOGL34 Alphabet Earnings Call This WeekPairCorr
  0.68LREN3 Lojas Renner SAPairCorr

Moving against Baumer Stock

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  0.51I1SR34 Intuitive SurgicalPairCorr
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  0.4RANI3 Irani Papel ePairCorr

Related Correlations Analysis

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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   
B1AX34
+ 0.81
I1SR34
BALM3
+ 0.57
BALM4
BALM4
+ 0.42
FLRY3
BALM3
+ 0.25
FLRY3
BALM4
+ 0.21
I1SR34
BALM4
+ 0.14
B1AX34
  
High negative correlations   
BALM3
- 0.51
B1AX34
BALM3
- 0.51
I1SR34
FLRY3
- 0.05
I1SR34

Risk-Adjusted Indicators

There is a big difference between Baumer Stock performing well and Baumer 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 Baumer 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.

Be your own money manager

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