Vale SA Correlations

VALE Stock

USD 9.06 0.24 2.58%

The current 90-days correlation between Vale SA ADR and BHP Group Limited is 0.85 (i.e., Very poor diversification). The correlation of Vale SA 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.

Vale SA Correlation With Market

Poor diversification

The correlation between Vale SA ADR and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vale SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Vale Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Vale 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 bureau of economic analysis.

Moving together with Vale Stock

0.74	BHP	BHP Group Limited	Pair Corr
0.68	GSM	Ferroglobe PLC	Pair Corr
0.61	LAR	Lithium Argentina Symbol Change	Pair Corr
0.85	RIO	Rio Tinto ADR	Pair Corr
0.71	MTRN	Materion	Pair Corr

Moving against Vale Stock

0.32	NB	NioCorp Developments	Pair Corr
0.33	NIOBW	NioCorp Developments	Pair Corr
0.31	UAMY	United States Antimony	Pair Corr

Related Correlations Analysis

	BHP	TECK	LAC	MP	RIO	GLNCY	PLL	SGML	SLI
BHP		0.75	0.58	-0.08	0.85	0.73	0.33	-0.03	0.54	BHP
TECK	0.75		0.37	0.3	0.66	0.91	0.1	0.25	0.37	TECK
LAC	0.58	0.37		-0.24	0.72	0.11	0.68	0.37	0.0	LAC
MP	-0.08	0.3	-0.24		-0.27	0.35	-0.12	0.02	0.23	MP
RIO	0.85	0.66	0.72	-0.27		0.51	0.5	0.37	0.15	RIO
GLNCY	0.73	0.91	0.11	0.35	0.51		-0.08	-0.06	0.55	GLNCY
PLL	0.33	0.1	0.68	-0.12	0.5	-0.08		0.35	-0.08	PLL
SGML	-0.03	0.25	0.37	0.02	0.37	-0.06	0.35		-0.72	SGML
SLI	0.54	0.37	0.0	0.23	0.15	0.55	-0.08	-0.72		SLI
	BHP	TECK	LAC	MP	RIO	GLNCY	PLL	SGML	SLI

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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

GLNCY	+ 0.91	TECK
RIO	+ 0.85	BHP
TECK	+ 0.75	BHP
GLNCY	+ 0.73	BHP
RIO	+ 0.72	LAC
PLL	+ 0.68	LAC

High negative correlations

SLI	- 0.72	SGML
RIO	- 0.27	MP
MP	- 0.24	LAC
PLL	- 0.12	MP
SLI	- 0.08	PLL
PLL	- 0.08	GLNCY

Risk-Adjusted Indicators

There is a big difference between Vale Stock performing well and Vale SA 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 Vale SA'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
BHP	1.47	(0.15)	0.00	(0.12)	0.00	0.00	2.35	(2.92)	12.80
TECK	2.34	(0.17)	0.00	(0.07)	0.00	0.00	3.88	(4.95)	19.93
LAC	2.45	(0.25)	0.00	(0.17)	0.00	0.00	3.28	(5.92)	27.00
MP	4.42	0.66	0.14	0.74	4.34	(5.53)	13.42	(7.97)	33.64
RIO	1.19	(0.22)	0.00	(0.29)	0.00	0.00	2.38	(2.43)	8.72
GLNCY	1.97	(0.08)	0.00	(0.04)	0.00	0.00	2.70	(4.01)	19.62
PLL	2.98	(0.23)	0.00	(0.24)	0.00	0.00	5.47	(4.96)	29.72
SGML	3.90	(1.35)	0.00	(0.65)	0.00	0.00	7.97	(8.97)	26.45
SLI	3.16	0.57	0.15	0.75	3.48	(3.49)	8.02	(5.56)	19.68

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