Zebra Technologies Correlations

Z1BR34 Stock

BRL 61.08 0.98 1.63%

The current 90-days correlation between Zebra Technologies and MAHLE Metal Leve is -0.04 (i.e., Good diversification). The correlation of Zebra Technologies 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.

Zebra Technologies Correlation With Market

Significant diversification

The correlation between Zebra Technologies and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zebra Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zebra Stock

0.88	CSCO34	Cisco Systems	Pair Corr
0.88	H1PE34	Hewlett Packard Ente	Pair Corr
0.67	INTB3	Intelbras SA	Pair Corr
0.86	I1DX34	IDEXX Laboratories,	Pair Corr
0.89	T1RO34	T Rowe Price Earnings Call This Week	Pair Corr
0.82	A1MT34	Applied Materials,	Pair Corr
0.86	S1SL34	Skyworks Solutions	Pair Corr
0.65	L1MN34	Lumen Technologies,	Pair Corr
0.92	MSFT34	Microsoft	Pair Corr
0.88	MUTC34	Micron Technology	Pair Corr
0.93	NVDC34	NVIDIA	Pair Corr
0.85	LVTC3	Livetech da Bahia	Pair Corr
0.63	MRFG3	Marfrig Global Foods	Pair Corr

Moving against Zebra Stock

0.82	M1KT34	MarketAxess Holdings	Pair Corr
0.64	C1OG34	Coterra Energy	Pair Corr
0.53	M1SI34	Motorola Solutions	Pair Corr

Related Correlations Analysis

	O2NS34	C1HT34	LEVE3	P2EN34	AVGO34	L1YV34	CHCM34
O2NS34		0.76	0.06	-0.41	0.84	0.63	0.08	O2NS34
C1HT34	0.76		0.38	-0.76	0.88	0.7	0.2	C1HT34
LEVE3	0.06	0.38		-0.55	0.45	0.25	0.27	LEVE3
P2EN34	-0.41	-0.76	-0.55		-0.69	-0.74	-0.55	P2EN34
AVGO34	0.84	0.88	0.45	-0.69		0.75	0.32	AVGO34
L1YV34	0.63	0.7	0.25	-0.74	0.75		0.51	L1YV34
CHCM34	0.08	0.2	0.27	-0.55	0.32	0.51		CHCM34
	O2NS34	C1HT34	LEVE3	P2EN34	AVGO34	L1YV34	CHCM34

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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

AVGO34	+ 0.88	C1HT34
AVGO34	+ 0.84	O2NS34
C1HT34	+ 0.76	O2NS34
L1YV34	+ 0.75	AVGO34
L1YV34	+ 0.7	C1HT34
L1YV34	+ 0.63	O2NS34

High negative correlations

P2EN34	- 0.76	C1HT34
L1YV34	- 0.74	P2EN34
AVGO34	- 0.69	P2EN34
CHCM34	- 0.55	P2EN34
P2EN34	- 0.55	LEVE3
P2EN34	- 0.41	O2NS34

Risk-Adjusted Indicators

There is a big difference between Zebra Stock performing well and Zebra Technologies 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 Zebra Technologies' 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
O2NS34	2.03	0.63	0.14	1.43	1.32	(5.38)	5.90	(4.33)	30.55
C1HT34	0.98	0.24	0.04	(1.00)	1.00	(2.71)	3.21	(2.30)	17.54
LEVE3	1.11	0.04	(0.08)	(0.27)	1.22	(1.22)	3.23	(2.19)	7.35
P2EN34	0.90	(0.33)	0.00	(0.50)	0.00	0.00	1.04	0.00	26.04
AVGO34	1.75	0.53	0.21	0.85	1.86	(2.00)	4.04	(2.90)	12.87
L1YV34	1.28	0.17	0.00	(0.60)	1.49	(1.60)	3.18	(2.54)	9.61
CHCM34	1.82	(0.02)	0.00	0.12	2.27	(2.08)	3.56	(3.93)	18.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zebra Technologies 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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