Bancolombia Correlations

CIB Stock

USD 45.95 0.23 0.50%

The current 90-days correlation between Bancolombia SA ADR and Grupo Aval is 0.04 (i.e., Significant diversification). The correlation of Bancolombia 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.

Bancolombia Correlation With Market

Significant diversification

The correlation between Bancolombia SA ADR and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bancolombia SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Bancolombia Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bancolombia 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 gross domestic product.

Moving together with Bancolombia Stock

0.88	AX	Axos Financial	Pair Corr
0.71	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.88	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.75	NU	Nu Holdings Aggressive Push	Pair Corr
0.69	PB	Prosperity Bancshares Earnings Call This Week	Pair Corr
0.88	RF	Regions Financial Buyout Trend	Pair Corr
0.89	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.62	VBNK	VersaBank	Pair Corr
0.78	VBTX	Veritex Holdings Normal Trading	Pair Corr
0.79	TECTP	Tectonic Financial	Pair Corr
0.8	TFC-PO	Truist Financial	Pair Corr
0.7	TFC-PR	Truist Financial	Pair Corr
0.71	CFG-PE	Citizens Financial	Pair Corr
0.71	CFG-PH	Citizens Financial Group,	Pair Corr
0.84	EFSC	Enterprise Financial Earnings Call This Week	Pair Corr
0.65	KEY-PJ	KeyCorp Earnings Call This Week	Pair Corr
0.79	KEY-PK	KeyCorp Earnings Call This Week	Pair Corr
0.79	KEY-PL	KeyCorp Earnings Call This Week	Pair Corr
0.74	WAFD	Washington Federal	Pair Corr
0.73	BANC-PF	Banc of California Earnings Call This Week	Pair Corr
0.75	EQBK	Equity Bancshares,	Pair Corr
0.77	ESSA	ESSA Bancorp Earnings Call This Week	Pair Corr
0.79	TFINP	Triumph Financial	Pair Corr
0.9	EWBC	East West Bancorp Earnings Call This Week	Pair Corr
0.84	WSBCP	WesBanco Earnings Call This Week	Pair Corr
0.61	WNEB	Western New England Earnings Call This Week	Pair Corr
0.82	WSBC	WesBanco	Pair Corr

Moving against Bancolombia Stock

0.51	TFC-PI	Truist Financial	Pair Corr
0.44	WSBK	Winchester Bancorp,	Pair Corr

Related Correlations Analysis

	AVAL	BCH	BSAC	BAP	BLX	EC	BBD
AVAL		0.27	0.59	0.8	0.84	0.45	0.8	AVAL
BCH	0.27		0.87	0.07	0.19	-0.05	0.22	BCH
BSAC	0.59	0.87		0.48	0.49	0.24	0.59	BSAC
BAP	0.8	0.07	0.48		0.88	0.69	0.95	BAP
BLX	0.84	0.19	0.49	0.88		0.6	0.89	BLX
EC	0.45	-0.05	0.24	0.69	0.6		0.72	EC
BBD	0.8	0.22	0.59	0.95	0.89	0.72		BBD
	AVAL	BCH	BSAC	BAP	BLX	EC	BBD

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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

BBD	+ 0.95	BAP
BBD	+ 0.89	BLX
BLX	+ 0.88	BAP
BSAC	+ 0.87	BCH
BLX	+ 0.84	AVAL
BAP	+ 0.8	AVAL

High negative correlations

- 0.05

BCH

Risk-Adjusted Indicators

There is a big difference between Bancolombia Stock performing well and Bancolombia 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 Bancolombia'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
AVAL	1.45	0.32	0.13	2.09	1.29	(1.90)	3.41	(2.42)	12.63
BCH	1.00	0.07	(0.05)	0.70	1.01	(1.23)	2.97	(2.01)	5.75
BSAC	1.03	0.11	0.00	0.68	1.13	(1.08)	2.65	(1.99)	5.67
BAP	0.83	0.36	0.29	1.53	0.37	(1.00)	2.27	(1.12)	5.48
BLX	0.98	0.14	0.08	0.33	1.02	(1.09)	2.30	(1.98)	5.58
EC	1.39	0.10	(0.02)	(0.89)	1.79	(1.40)	3.22	(3.31)	7.94
BBD	1.44	0.39	0.18	1.35	1.10	(1.87)	3.17	(2.43)	21.83

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