SAN MIGUEL Correlations

MBR Stock

EUR 0.11 0.00 0.00%

The current 90-days correlation between SAN MIGUEL BREWERY and BRAGG GAMING GRP is -0.09 (i.e., Good diversification). The correlation of SAN MIGUEL 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.

SAN MIGUEL Correlation With Market

Good diversification

The correlation between SAN MIGUEL BREWERY and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SAN MIGUEL BREWERY and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SAN MIGUEL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SAN MIGUEL 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 SAN MIGUEL - 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 SAN MIGUEL BREWERY to buy it.

Moving together with SAN Stock

0.8	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.76	AMZ	Amazon Inc	Pair Corr
0.82	SSU	Samsung Electronics	Pair Corr
0.84	SSUN	Samsung Electronics	Pair Corr
0.85	SSU	Samsung Electronics	Pair Corr
0.81	SSUN	Samsung Electronics	Pair Corr
0.73	E908	Lyxor 1	Pair Corr
0.64	DBPE	Xtrackers LevDAX	Pair Corr

Moving against SAN Stock

0.64	DBPD	Xtrackers ShortDAX	Pair Corr
0.32	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	W9C	SL4	PN1	QA7	9E7	CPW	CI7	13O
W9C		0.71	0.11	-0.07	0.0	0.35	0.02	0.0	W9C
SL4	0.71		0.24	0.05	0.0	0.34	0.51	0.0	SL4
PN1	0.11	0.24		-0.04	0.0	-0.39	0.58	0.0	PN1
QA7	-0.07	0.05	-0.04		0.0	-0.37	-0.24	0.0	QA7
9E7	0.0	0.0	0.0	0.0		0.0	0.0	1.0	9E7
CPW	0.35	0.34	-0.39	-0.37	0.0		0.05	0.0	CPW
CI7	0.02	0.51	0.58	-0.24	0.0	0.05		0.0	CI7
13O	0.0	0.0	0.0	0.0	1.0	0.0	0.0		13O
	W9C	SL4	PN1	QA7	9E7	CPW	CI7	13O

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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

13O	+ 1.0	9E7
SL4	+ 0.71	W9C
CI7	+ 0.58	PN1
CI7	+ 0.51	SL4
CPW	+ 0.35	W9C
CPW	+ 0.34	SL4

High negative correlations

CPW	- 0.39	PN1
CPW	- 0.37	QA7
CI7	- 0.24	QA7
QA7	- 0.07	W9C
QA7	- 0.04	PN1
13O	- 0.0	CI7

Risk-Adjusted Indicators

There is a big difference between SAN Stock performing well and SAN MIGUEL 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 SAN MIGUEL'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
W9C	0.86	0.12	0.00	0.94	0.81	(1.49)	2.42	(1.74)	7.01
SL4	1.81	0.28	0.09	0.54	2.03	(2.25)	4.65	(3.41)	17.69
PN1	2.27	0.47	0.09	(0.53)	2.50	(2.57)	5.13	(4.07)	20.73
QA7	1.73	0.07	0.00	0.34	2.15	(5.30)	5.26	(5.00)	11.15
9E7	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPW	1.31	(0.16)	0.00	(0.18)	0.00	0.00	2.20	(2.55)	7.66
CI7	2.48	0.77	0.20	1.23	2.01	(4.02)	6.98	(2.56)	18.80
13O	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in SAN MIGUEL 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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