Bicicletas Monark Correlations
BMKS3 Stock | BRL 428.01 1.99 0.46% |
The correlation of Bicicletas Monark 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bicicletas Monark moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bicicletas Monark SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Bicicletas Monark SA and NYA is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bicicletas Monark SA and NYA in the same portfolio, assuming nothing else is changed.
Bicicletas |
The ability to find closely correlated positions to Bicicletas Monark could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bicicletas Monark 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 Bicicletas Monark - 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 Bicicletas Monark SA to buy it.
Moving against Bicicletas Stock
0.86 | ELET6 | Centrais Eltricas | PairCorr |
0.75 | SANB3 | Banco Santander SA | PairCorr |
0.68 | SANB4 | Banco Santander SA | PairCorr |
0.49 | ITUB4 | Ita Unibanco Holding | PairCorr |
0.44 | OIBR3 | Oi SA | PairCorr |
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
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Risk-Adjusted Indicators
There is a big difference between Bicicletas Stock performing well and Bicicletas Monark 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 Bicicletas Monark'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
M1UF34 | 1.00 | 0.18 | 0.06 | 2.48 | 1.32 | 2.06 | 8.60 | |||
S1MF34 | 0.72 | 0.25 | 0.08 | (3.36) | 0.65 | 1.32 | 11.50 | |||
TMCO34 | 1.31 | 0.29 | 0.15 | 1.61 | 1.42 | 2.25 | 10.73 | |||
B1SA34 | 1.12 | 0.09 | 0.04 | 0.81 | 1.05 | 3.20 | 6.57 | |||
NMRH34 | 1.27 | 0.32 | 0.12 | 2.17 | 1.45 | 4.12 | 17.69 | |||
SNEC34 | 1.27 | (0.16) | 0.00 | (1.20) | 0.00 | 2.44 | 10.63 | |||
HOND34 | 1.02 | 0.15 | 0.08 | 0.32 | 1.13 | 2.05 | 5.44 | |||
H1DB34 | 1.10 | 0.10 | 0.05 | 0.36 | 1.24 | 2.42 | 7.00 | |||
TSMC34 | 1.77 | 0.32 | 0.15 | 0.63 | 1.72 | 4.61 | 13.02 | |||
JPMC34 | 0.93 | 0.22 | 0.12 | 0.53 | 1.21 | 2.06 | 8.36 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bicicletas Monark 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?
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Already Invested in Bicicletas Monark SA?
The danger of trading Bicicletas Monark SA is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Bicicletas Monark is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Bicicletas Monark. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bicicletas Monark is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bicicletas Monark SA. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Bicicletas Monark information on this page should be used as a complementary analysis to other Bicicletas Monark's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Complementary Tools for Bicicletas Stock analysis
When running Bicicletas Monark's price analysis, check to measure Bicicletas Monark's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bicicletas Monark is operating at the current time. Most of Bicicletas Monark's value examination focuses on studying past and present price action to predict the probability of Bicicletas Monark's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bicicletas Monark's price. Additionally, you may evaluate how the addition of Bicicletas Monark to your portfolios can decrease your overall portfolio volatility.
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