Centrais Eltricas Related Correlations

ELET3 Stock  BRL 41.87  0.56  1.32%   
Generate correlation matrix for Centrais Eltricas and other related equities to check the degree to which Centrais Eltricas Brasileiras price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Centrais Eltricas Brasileiras. To filter out specific equities, please toggle its corresponding legend item. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Centrais Eltricas Brasileiras. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
Please note, there is a significant difference between Centrais Eltricas' value and its price as these two are different measures arrived at by different means. Investors typically determine if Centrais Eltricas is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Centrais Eltricas' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

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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   
TAEE4TRPL3
ELET6ELET3
TAEE4DUKB34
TRPL3DUKB34
ENMT4ELET3
ALUP4DUKB34
  
High negative correlations   
TAEE4ENMT4
TAEE4ELET3
TRPL3ENMT4
TAEE4ELET6
TRPL3ELET3
ELET3DUKB34

Risk-Adjusted Indicators

There is a big difference between Centrais Stock performing well and Centrais Eltricas 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 Centrais Eltricas' 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.