CCR SA Correlations

CCRO3 Stock

BRL 13.59 0.21 1.52%

The current 90-days correlation between CCR SA and Companhia de Saneamento is 0.14 (i.e., Average diversification). The correlation of CCR 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.

CCR SA Correlation With Market

Modest diversification

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

The ability to find closely correlated positions to CCR 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 CCR 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 CCR 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 CCR SA to buy it.

Moving together with CCR Stock

0.65	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.64	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.86	TSMC34	Taiwan Semiconductor	Pair Corr
0.81	JPMC34	JPMorgan Chase	Pair Corr
0.74	I1DX34	IDEXX Laboratories,	Pair Corr
0.63	MSFT34	Microsoft Earnings Call This Week	Pair Corr
0.66	LVTC3	Livetech da Bahia	Pair Corr
0.66	ITUB4	Ita Unibanco Holding	Pair Corr
0.73	MUTC34	Micron Technology	Pair Corr

Moving against CCR Stock

0.54

TMCO34

Toyota Motor

Pair Corr

Related Correlations Analysis

	ECOR3	SBSP3	CMIG4	CSAN3	CYRE3
ECOR3		0.29	0.48	-0.06	0.06	ECOR3
SBSP3	0.29		0.5	0.42	0.06	SBSP3
CMIG4	0.48	0.5		-0.34	0.41	CMIG4
CSAN3	-0.06	0.42	-0.34		-0.57	CSAN3
CYRE3	0.06	0.06	0.41	-0.57		CYRE3
	ECOR3	SBSP3	CMIG4	CSAN3	CYRE3

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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

CMIG4	+ 0.5	SBSP3
CMIG4	+ 0.48	ECOR3
CSAN3	+ 0.42	SBSP3
CYRE3	+ 0.41	CMIG4
SBSP3	+ 0.29	ECOR3
CYRE3	+ 0.06	ECOR3

High negative correlations

CYRE3	- 0.57	CSAN3
CSAN3	- 0.34	CMIG4
CSAN3	- 0.06	ECOR3

Risk-Adjusted Indicators

There is a big difference between CCR Stock performing well and CCR 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 CCR 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
ECOR3	2.18	0.24	0.00	(0.18)	2.41	(2.92)	5.83	(4.70)	17.50
SBSP3	1.03	0.04	(0.05)	0.33	1.41	(0.99)	2.32	(1.80)	7.96
CMIG4	1.14	0.10	0.02	0.38	1.10	(1.28)	2.66	(1.55)	6.37
CSAN3	2.01	(0.37)	0.00	(0.47)	0.00	0.00	3.94	(3.79)	15.09
CYRE3	1.48	0.08	(0.02)	0.78	1.89	(1.44)	3.10	(2.70)	9.79

CCR SA Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CCR SA stock to make a market-neutral strategy. Peer analysis of CCR SA could also be used in its relative valuation, which is a method of valuing CCR SA by comparing valuation metrics with similar companies.

EcoRodovias Infraestrutura e Companhia de Saneamento Companhia Energtica de Cosan SA Cyrela Brazil Realty American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

CCR SA Corporate Management

Elected by the shareholders, the CCR SA's board of directors comprises two types of representatives: CCR SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CCR. The board's role is to monitor CCR SA's management team and ensure that shareholders' interests are well served. CCR SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, CCR SA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Marcio Iha	Control Planning	Profile
Fabio Correa	Bus Board	Profile
Luiz Souza	Director Board	Profile
Gustavo Lopes	New Board	Profile
Marcus Macedo	Investor Mang	Profile
Pedro Sutter	Risk Governance	Profile
Antnio Filho	Director Board	Profile

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