AES Correlations

A1ES34 Stock

BRL 74.36 1.03 1.37%

The current 90-days correlation between AES and Autohome is 0.05 (i.e., Significant diversification). The correlation of AES 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.

AES Correlation With Market

Good diversification

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

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

Moving together with AES Stock

0.65	L1HX34	L3Harris Technologies,	Pair Corr
0.61	BAIQ39	GX AI TECH	Pair Corr

Moving against AES Stock

0.77	PDGR3	PDG Realty SA Split	Pair Corr
0.74	CMIG3	Companhia Energtica	Pair Corr
0.48	HETA4	Hrcules SA	Pair Corr
0.45	O2HI34	Omega Healthcare Inv	Pair Corr
0.64	PCAR3	Companhia Brasileira	Pair Corr
0.64	TELB4	Telecomunicaes Brasileiras	Pair Corr
0.42	MRVE3	MRV Engenharia e	Pair Corr

Related Correlations Analysis

	CHCM34	GOAU4	TELB4	A1TH34	STMN34	ROST34	EAIN34
CHCM34		-0.86	0.4	0.92	0.86	-0.72	-0.46	CHCM34
GOAU4	-0.86		-0.59	-0.9	-0.64	0.68	0.77	GOAU4
TELB4	0.4	-0.59		0.52	0.16	-0.41	-0.66	TELB4
A1TH34	0.92	-0.9	0.52		0.8	-0.56	-0.61	A1TH34
STMN34	0.86	-0.64	0.16	0.8		-0.57	-0.19	STMN34
ROST34	-0.72	0.68	-0.41	-0.56	-0.57		0.35	ROST34
EAIN34	-0.46	0.77	-0.66	-0.61	-0.19	0.35		EAIN34
	CHCM34	GOAU4	TELB4	A1TH34	STMN34	ROST34	EAIN34

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

A1TH34	+ 0.92	CHCM34
STMN34	+ 0.86	CHCM34
STMN34	+ 0.8	A1TH34
EAIN34	+ 0.77	GOAU4
ROST34	+ 0.68	GOAU4
A1TH34	+ 0.52	TELB4

High negative correlations

A1TH34	- 0.9	GOAU4
GOAU4	- 0.86	CHCM34
ROST34	- 0.72	CHCM34
EAIN34	- 0.66	TELB4
STMN34	- 0.64	GOAU4
EAIN34	- 0.61	A1TH34

Risk-Adjusted Indicators

There is a big difference between AES Stock performing well and AES 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 AES'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
CHCM34	1.68	(0.47)	0.00	(0.75)	0.00	0.00	3.34	(3.95)	10.52
GOAU4	1.04	0.21	0.15	0.32	0.99	(1.12)	2.38	(1.66)	5.95
TELB4	2.29	0.21	0.05	0.39	2.84	(2.60)	5.98	(4.71)	24.74
A1TH34	1.32	(0.27)	0.00	(3.25)	0.00	0.00	1.82	(3.33)	12.72
STMN34	1.15	(0.30)	0.00	(15.07)	0.00	0.00	2.00	(3.62)	22.59
ROST34	0.74	0.25	0.00	0.99	0.00	0.00	0.25	0.00	11.26
EAIN34	0.88	0.20	0.14	0.86	0.60	(1.57)	1.59	(2.00)	16.64

Be your own money manager

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