Estefa - Dividendos
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification
Estefa - Dividendos
Last updated Apr 21, 2025
Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
ABBV AbbVie Inc. | Healthcare | 3% |
AVGO Broadcom Inc. | Technology | 1% |
BATS.L British American Tobacco plc | Consumer Defensive | 2% |
BHP BHP Group | Basic Materials | 1% |
BNS The Bank of Nova Scotia | Financial Services | 1% |
CICHF China Construction Bank Corporation | Financial Services | 5% |
CVX Chevron Corporation | Energy | 2% |
DBSDY DBS Group Holdings Ltd ADR | Financial Services | 1% |
ENEL.MI Enel SpA | Utilities | 1% |
HSBC HSBC Holdings plc | Financial Services | 2% |
HTGC Hercules Capital, Inc. | Financial Services | 3% |
IMBBY Imperial Brands PLC | Consumer Defensive | 1% |
INSW International Seaways, Inc. | Energy | 3% |
JNJ Johnson & Johnson | Healthcare | 2% |
JPM JPMorgan Chase & Co. | Financial Services | 1% |
KBC.BR KBC Group NV | Financial Services | 1% |
KO The Coca-Cola Company | Consumer Defensive | 1% |
MAP.MC Mapfre | Financial Services | 1% |
MO Altria Group, Inc. | Consumer Defensive | 3% |
NWG.L | 1% | |
O | 5% | |
PEP | 1% | |
PM | 2% | |
PSA | 1% | |
REP.DE | 2% | |
RHHBY | 1% | |
RIO | 2% | |
T | 1% | |
TDGB.L | 39% | |
TXN | 2% | |
UVV | 1% | |
VICI | 2% | |
VZ | 2% | |
XOM | 3% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Estefa - Dividendos, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced every 3 months.
Estefa - Dividendos
Benchmark (^GSPC)
Portfolio components
The earliest data available for this chart is Dec 1, 2016, corresponding to the inception date of INSW
Returns By Period
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | -12.30% | -8.99% | -11.89% | 3.84% | 13.06% | 9.34% |
| Estefa - Dividendos | 7.14% | -3.61% | 4.40% | 19.07% | 18.29% | N/A |
| Portfolio components: | ||||||
TDGB.L | 10.89% | -3.32% | 7.25% | 18.39% | 18.69% | N/A |
O | 10.62% | 4.35% | -6.54% | 15.55% | 9.26% | N/A |
ABBV AbbVie Inc. | -2.45% | -18.23% | -7.07% | 5.97% | 20.17% | 14.65% |
MO Altria Group, Inc. | 12.20% | 1.85% | 21.91% | 48.06% | 17.39% | 7.81% |
XOM | -1.19% | -8.79% | -10.75% | -9.15% | 25.26% | N/A |
TXN | -21.77% | -18.65% | -24.58% | -6.26% | 8.16% | N/A |
VICI | 11.56% | 1.97% | 1.41% | 21.83% | 21.28% | N/A |
CVX Chevron Corporation | -6.65% | -18.83% | -9.47% | -12.80% | 14.23% | 6.47% |
JNJ Johnson & Johnson | 9.37% | -4.10% | -2.08% | 9.50% | 3.29% | 7.46% |
PM | 35.95% | 7.06% | 39.06% | 80.72% | 22.97% | N/A |
T | 18.37% | -1.52% | 24.44% | 67.83% | 10.01% | N/A |
UVV | -2.54% | -2.81% | 7.61% | 7.34% | 9.66% | N/A |
BATS.L British American Tobacco plc | 18.73% | 4.74% | 27.80% | 59.74% | 11.53% | 4.79% |
PEP | -5.97% | -2.56% | -17.60% | -15.90% | 4.23% | N/A |
VZ | 11.06% | -0.84% | 1.64% | 13.23% | -0.23% | N/A |
JPM JPMorgan Chase & Co. | -3.39% | -4.65% | 3.85% | 26.10% | 23.48% | 17.08% |
KO The Coca-Cola Company | 17.74% | 5.97% | 6.35% | 24.56% | 12.85% | 9.38% |
BNS The Bank of Nova Scotia | -8.98% | 0.44% | -7.57% | 7.97% | 10.85% | 3.79% |
HTGC Hercules Capital, Inc. | -12.99% | -10.86% | -11.77% | 0.79% | 26.81% | 13.07% |
AVGO Broadcom Inc. | -28.09% | -13.28% | -7.13% | 39.65% | 47.26% | 33.63% |
RHHBY | 15.09% | -8.14% | 1.88% | 32.00% | 0.57% | N/A |
INSW International Seaways, Inc. | -7.58% | -3.82% | -30.58% | -31.14% | 12.32% | N/A |
NWG.L | 25.28% | 2.88% | 36.11% | 87.50% | 41.70% | N/A |
KBC.BR KBC Group NV | 16.36% | -4.36% | 24.16% | 29.89% | 19.60% | 8.17% |
RIO | 3.05% | -5.68% | -6.69% | -6.88% | 13.38% | N/A |
ENEL.MI Enel SpA | 20.52% | 6.03% | 8.85% | 40.60% | 11.35% | 10.57% |
IMBBY Imperial Brands PLC | 25.55% | 11.59% | 37.49% | 87.76% | 24.44% | 4.83% |
HSBC HSBC Holdings plc | 8.64% | -9.89% | 22.92% | 37.12% | 21.29% | 6.49% |
CICHF China Construction Bank Corporation | 3.42% | -2.27% | 18.59% | 51.65% | 10.81% | 16.57% |
MAP.MC Mapfre | 30.79% | 7.07% | 25.59% | 46.90% | 19.74% | 3.76% |
PSA | -3.01% | -1.23% | -11.65% | 14.80% | 12.66% | N/A |
BHP BHP Group | -2.04% | -4.60% | -15.07% | -15.36% | 14.21% | 7.45% |
DBSDY DBS Group Holdings Ltd ADR | 0.04% | -5.44% | 9.00% | 37.69% | 27.31% | 13.44% |
REP.DE | 2.40% | -10.55% | -5.22% | -20.06% | 15.07% | N/A |
*Annualized
Monthly Returns
The table below presents the monthly returns of Estefa - Dividendos, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 4.15% | 4.57% | 2.47% | -4.00% | 7.14% | ||||||||
| 2024 | 0.29% | 0.43% | 4.81% | -0.77% | 4.41% | -0.67% | 4.82% | 2.57% | 2.14% | -2.13% | 0.61% | -2.37% | 14.70% |
| 2023 | 4.75% | -1.48% | -1.53% | 2.26% | -5.03% | 4.27% | 3.80% | -3.12% | -0.81% | -3.67% | 6.39% | 5.41% | 10.88% |
| 2022 | 4.94% | 0.57% | 3.03% | -2.08% | 3.85% | -8.00% | 2.46% | -2.01% | -7.11% | 9.17% | 8.43% | 0.38% | 12.73% |
| 2021 | -0.70% | 6.35% | 5.42% | 1.68% | 3.26% | -1.96% | 0.24% | 0.82% | -2.63% | 2.19% | -3.11% | 7.45% | 19.98% |
| 2020 | -4.11% | -8.38% | -14.98% | 7.11% | 2.51% | 1.54% | 0.37% | 3.64% | -3.88% | -3.21% | 16.49% | 4.00% | -2.37% |
| 2019 | 2.25% | 2.94% | 1.62% | 1.50% | -5.76% | 4.37% | -1.55% | -2.73% | 4.75% | 3.58% | 2.06% | 3.85% | 17.59% |
| 2018 | 4.32% | -6.27% | -1.29% | 1.10% | -0.67% | -0.22% | 5.90% | -2.23% | 1.24% | -3.42% | 0.67% | -6.69% | -8.03% |
| 2017 | -0.22% | 1.47% | 2.04% | 3.31% |
Expense Ratio
Estefa - Dividendos has an expense ratio of 0.15%, which is considered low. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.
The portfolio doesn't include any funds that charge management fees.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 91, Estefa - Dividendos is among the top 9% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Overall Rank
Sharpe Ratio Rank
Sortino Ratio Rank
Omega Ratio Rank
Calmar Ratio Rank
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.
Risk-Adjusted Performance Indicators
This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Portfolio: 1.35
^GSPC: 0.14
Portfolio: 1.69
^GSPC: 0.33
Portfolio: 1.27
^GSPC: 1.05
Portfolio: 1.47
^GSPC: 0.14
Portfolio: 6.02
^GSPC: 0.62
Portfolio components
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
TDGB.L | 1.05 | 1.40 | 1.21 | 1.16 | 4.91 |
O | 0.70 | 1.07 | 1.14 | 0.51 | 1.40 |
ABBV AbbVie Inc. | 0.35 | 0.61 | 1.10 | 0.44 | 1.14 |
MO Altria Group, Inc. | 2.30 | 3.30 | 1.44 | 4.10 | 9.64 |
XOM | -0.38 | -0.38 | 0.95 | -0.47 | -1.12 |
TXN | -0.45 | -0.43 | 0.94 | -0.49 | -1.44 |
VICI | 0.87 | 1.36 | 1.17 | 1.14 | 2.79 |
CVX Chevron Corporation | -0.65 | -0.73 | 0.90 | -0.73 | -2.11 |
JNJ Johnson & Johnson | 0.54 | 0.85 | 1.12 | 0.58 | 1.64 |
PM | 3.18 | 4.38 | 1.68 | 7.04 | 21.27 |
T | 2.81 | 3.45 | 1.52 | 2.60 | 22.43 |
UVV | 0.29 | 0.54 | 1.08 | 0.24 | 1.00 |
BATS.L British American Tobacco plc | 2.80 | 3.37 | 1.54 | 1.58 | 12.53 |
PEP | -0.90 | -1.18 | 0.86 | -0.70 | -1.49 |
VZ | 0.65 | 0.96 | 1.14 | 0.63 | 2.62 |
JPM JPMorgan Chase & Co. | 0.75 | 1.20 | 1.18 | 0.87 | 3.14 |
KO The Coca-Cola Company | 1.28 | 1.88 | 1.24 | 1.34 | 2.91 |
BNS The Bank of Nova Scotia | 0.49 | 0.77 | 1.10 | 0.28 | 1.21 |
HTGC Hercules Capital, Inc. | -0.12 | 0.01 | 1.00 | -0.13 | -0.38 |
AVGO Broadcom Inc. | 0.41 | 1.07 | 1.14 | 0.62 | 1.84 |
RHHBY | 1.36 | 1.88 | 1.26 | 0.79 | 3.85 |
INSW International Seaways, Inc. | -0.85 | -1.21 | 0.86 | -0.68 | -1.20 |
NWG.L | 2.28 | 2.73 | 1.39 | 4.86 | 15.52 |
KBC.BR KBC Group NV | 1.13 | 1.62 | 1.22 | 1.65 | 5.85 |
RIO | -0.40 | -0.42 | 0.95 | -0.40 | -0.81 |
ENEL.MI Enel SpA | 1.61 | 2.09 | 1.31 | 1.31 | 5.22 |
IMBBY Imperial Brands PLC | 4.30 | 5.62 | 1.79 | 7.49 | 43.12 |
HSBC HSBC Holdings plc | 1.31 | 1.69 | 1.26 | 1.45 | 7.11 |
CICHF China Construction Bank Corporation | 0.87 | 1.48 | 1.26 | 2.96 | 7.84 |
MAP.MC Mapfre | 1.78 | 2.40 | 1.32 | 3.48 | 8.33 |
PSA | 0.58 | 0.96 | 1.12 | 0.44 | 1.23 |
BHP BHP Group | -0.47 | -0.50 | 0.94 | -0.36 | -0.90 |
DBSDY DBS Group Holdings Ltd ADR | 1.33 | 1.83 | 1.30 | 1.57 | 7.33 |
REP.DE | -0.82 | -1.09 | 0.87 | -0.62 | -1.27 |
Estefa - Dividendos
Benchmark (^GSPC)
Portfolio components
Dividends
Dividend yield
Estefa - Dividendos provided a 65.84% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 65.84% | 68.23% | 53.84% | 38.87% | 33.20% | 4.80% | 34.61% | 5.24% | 2.25% | 2.24% | 2.74% | 2.44% |
| Portfolio components: | ||||||||||||
TDGB.L | 159.10% | 165.62% | 128.08% | 90.39% | 76.04% | 4.16% | 80.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
O | 5.46% | 5.37% | 5.33% | 4.68% | 6.95% | 4.65% | 3.69% | 4.19% | 4.45% | 4.19% | 4.42% | 4.59% |
ABBV AbbVie Inc. | 3.75% | 3.49% | 3.82% | 3.49% | 3.84% | 4.41% | 4.83% | 3.89% | 2.65% | 3.64% | 3.41% | 2.54% |
MO Altria Group, Inc. | 7.01% | 7.65% | 9.52% | 8.05% | 7.43% | 8.29% | 6.57% | 6.07% | 3.56% | 3.48% | 3.73% | 4.06% |
XOM | 3.68% | 3.57% | 3.68% | 3.22% | 5.70% | 8.44% | 4.92% | 4.74% | 3.66% | 3.30% | 3.69% | 2.92% |
TXN | 3.65% | 2.81% | 2.94% | 2.84% | 2.23% | 2.27% | 2.50% | 2.78% | 2.03% | 2.25% | 2.55% | 2.32% |
VICI | 5.33% | 5.81% | 5.05% | 4.63% | 4.58% | 4.93% | 4.59% | 5.32% | 0.00% | 0.00% | 0.00% | 0.00% |
CVX Chevron Corporation | 4.94% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% | 3.75% |
JNJ Johnson & Johnson | 3.16% | 3.40% | 3.00% | 2.52% | 2.45% | 2.53% | 2.57% | 2.74% | 2.38% | 2.73% | 2.87% | 2.64% |
PM | 3.30% | 4.40% | 5.46% | 4.98% | 5.16% | 5.73% | 5.43% | 6.73% | 3.99% | 4.50% | 4.60% | 4.76% |
T | 4.22% | 4.87% | 6.62% | 6.66% | 8.45% | 7.23% | 5.22% | 7.01% | 5.04% | 4.51% | 5.46% | 5.48% |
UVV | 6.26% | 5.87% | 4.72% | 5.95% | 5.64% | 6.30% | 5.29% | 4.80% | 4.11% | 3.33% | 3.71% | 4.64% |
BATS.L British American Tobacco plc | 7.48% | 8.18% | 10.06% | 6.64% | 7.89% | 7.77% | 6.28% | 7.81% | 4.35% | 3.37% | 3.98% | 4.14% |
PEP | 3.82% | 3.51% | 2.91% | 2.50% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% | 2.68% |
VZ | 6.29% | 6.68% | 6.96% | 6.53% | 4.86% | 4.21% | 3.95% | 4.22% | 4.39% | 4.26% | 4.79% | 4.57% |
JPM JPMorgan Chase & Co. | 2.21% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% | 2.49% |
KO The Coca-Cola Company | 2.70% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% | 2.89% |
BNS The Bank of Nova Scotia | 6.43% | 5.84% | 6.40% | 6.40% | 4.02% | 4.94% | 3.54% | 5.10% | 3.75% | 3.98% | 6.63% | 4.11% |
HTGC Hercules Capital, Inc. | 9.33% | 7.96% | 11.40% | 14.90% | 9.34% | 9.57% | 9.49% | 11.40% | 9.45% | 8.79% | 10.17% | 8.33% |
AVGO Broadcom Inc. | 1.34% | 0.94% | 1.71% | 3.02% | 2.24% | 3.05% | 3.54% | 3.11% | 1.87% | 1.43% | 1.13% | 1.22% |
RHHBY | 3.51% | 3.99% | 3.55% | 3.23% | 2.47% | 2.63% | 2.69% | 3.58% | 3.22% | 3.62% | 3.14% | 3.23% |
INSW International Seaways, Inc. | 15.84% | 16.05% | 13.83% | 3.84% | 9.26% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NWG.L | 4.69% | 4.35% | 7.06% | 10.80% | 2.66% | 2.77% | 6.45% | 0.92% | 0.00% | 0.00% | 0.00% | 0.00% |
KBC.BR KBC Group NV | 6.14% | 6.51% | 6.81% | 6.66% | 4.56% | 4.36% | 5.22% | 5.29% | 3.94% | 1.70% | 3.47% | 0.00% |
RIO | 6.88% | 7.40% | 5.40% | 10.48% | 14.39% | 5.13% | 10.70% | 6.32% | 4.45% | 3.96% | 7.79% | 4.46% |
ENEL.MI Enel SpA | 5.83% | 6.24% | 5.94% | 7.55% | 5.08% | 3.96% | 3.96% | 4.42% | 3.12% | 1.91% | 2.31% | 3.52% |
IMBBY Imperial Brands PLC | 4.94% | 6.04% | 7.61% | 7.03% | 8.61% | 9.98% | 10.46% | 7.98% | 4.86% | 4.77% | 5.37% | 4.45% |
HSBC HSBC Holdings plc | 6.33% | 6.17% | 6.54% | 4.33% | 3.65% | 0.00% | 6.51% | 6.20% | 4.94% | 6.35% | 6.33% | 5.19% |
CICHF China Construction Bank Corporation | 9.65% | 6.51% | 9.13% | 8.41% | 7.09% | 6.25% | 5.16% | 47.17% | 4.46% | 5.60% | 7.00% | 5.96% |
MAP.MC Mapfre | 4.41% | 5.16% | 6.08% | 6.54% | 6.12% | 6.93% | 5.02% | 5.10% | 4.40% | 3.65% | 4.86% | 3.93% |
PSA | 4.17% | 4.01% | 3.93% | 7.55% | 2.14% | 3.46% | 3.76% | 3.95% | 3.83% | 3.27% | 2.62% | 3.03% |
BHP BHP Group | 5.29% | 5.98% | 4.98% | 9.95% | 9.98% | 3.67% | 8.59% | 4.89% | 3.61% | 1.68% | 9.32% | 5.11% |
DBSDY DBS Group Holdings Ltd ADR | 5.29% | 4.91% | 6.76% | 5.25% | 3.12% | 2.63% | 5.69% | 7.56% | 2.45% | 3.70% | 3.70% | 2.98% |
REP.DE | 9.44% | 7.86% | 5.19% | 4.23% | 2.87% | 9.40% | 6.59% | 11.66% | 5.48% | 4.61% | 9.17% | 11.91% |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Estefa - Dividendos
Benchmark (^GSPC)
Portfolio components
Worst Drawdowns
The table below displays the maximum drawdowns of the Estefa - Dividendos. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Estefa - Dividendos was 35.91%, occurring on Mar 23, 2020. Recovery took 205 trading sessions.
The current Estefa - Dividendos drawdown is 4.21%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -35.91% | Jan 21, 2020 | 45 | Mar 23, 2020 | 205 | Jan 7, 2021 | 250 |
| -16.28% | Jan 29, 2018 | 235 | Dec 24, 2018 | 252 | Dec 16, 2019 | 487 |
| -15.28% | Apr 21, 2022 | 117 | Sep 30, 2022 | 43 | Nov 30, 2022 | 160 |
| -11.01% | Mar 20, 2025 | 14 | Apr 8, 2025 | — | — | — |
| -8.25% | Aug 1, 2023 | 64 | Oct 27, 2023 | 33 | Dec 13, 2023 | 97 |
Volatility
Volatility Chart
The current Estefa - Dividendos volatility is 7.99%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Estefa - Dividendos
Benchmark (^GSPC)
Portfolio components
Diversification
Asset Correlations Table
The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.
| CICHF | DBSDY | INSW | RHHBY | PSA | REP.DE | AVGO | ABBV | BATS.L | JNJ | ENEL.MI | VZ | PEP | O | UVV | HTGC | KBC.BR | IMBBY | NWG.L | TXN | MAP.MC | VICI | MO | T | KO | PM | XOM | CVX | RIO | BHP | HSBC | JPM | BNS | TDGB.L | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CICHF | 1.00 | 0.13 | 0.05 | 0.05 | 0.03 | 0.04 | 0.08 | 0.06 | 0.05 | 0.03 | 0.07 | 0.02 | 0.05 | 0.02 | 0.03 | 0.07 | 0.10 | 0.03 | 0.09 | 0.09 | 0.11 | 0.06 | 0.03 | 0.06 | 0.06 | 0.05 | 0.08 | 0.07 | 0.08 | 0.10 | 0.16 | 0.12 | 0.13 | 0.12 |
| DBSDY | 0.13 | 1.00 | 0.10 | 0.04 | 0.01 | 0.18 | 0.11 | 0.07 | 0.15 | 0.03 | 0.21 | 0.03 | 0.03 | 0.05 | 0.07 | 0.17 | 0.26 | 0.11 | 0.25 | 0.12 | 0.25 | 0.09 | 0.08 | 0.09 | 0.08 | 0.11 | 0.13 | 0.15 | 0.19 | 0.21 | 0.25 | 0.14 | 0.25 | 0.34 |
| INSW | 0.05 | 0.10 | 1.00 | 0.08 | 0.02 | 0.17 | 0.16 | 0.12 | 0.10 | 0.06 | 0.07 | 0.09 | 0.06 | 0.06 | 0.21 | 0.23 | 0.15 | 0.13 | 0.15 | 0.18 | 0.15 | 0.14 | 0.15 | 0.15 | 0.08 | 0.13 | 0.38 | 0.35 | 0.27 | 0.29 | 0.24 | 0.27 | 0.22 | 0.22 |
| RHHBY | 0.05 | 0.04 | 0.08 | 1.00 | 0.21 | 0.06 | 0.20 | 0.27 | 0.21 | 0.29 | 0.27 | 0.17 | 0.30 | 0.23 | 0.13 | 0.18 | 0.12 | 0.23 | 0.10 | 0.25 | 0.14 | 0.21 | 0.17 | 0.17 | 0.26 | 0.22 | 0.12 | 0.14 | 0.23 | 0.24 | 0.20 | 0.17 | 0.26 | 0.26 |
| PSA | 0.03 | 0.01 | 0.02 | 0.21 | 1.00 | 0.01 | 0.17 | 0.20 | 0.13 | 0.30 | 0.18 | 0.28 | 0.40 | 0.60 | 0.21 | 0.21 | 0.06 | 0.20 | 0.08 | 0.24 | 0.08 | 0.46 | 0.27 | 0.23 | 0.39 | 0.29 | 0.12 | 0.12 | 0.16 | 0.17 | 0.14 | 0.17 | 0.24 | 0.15 |
| REP.DE | 0.04 | 0.18 | 0.17 | 0.06 | 0.01 | 1.00 | 0.12 | 0.13 | 0.22 | 0.09 | 0.26 | 0.12 | 0.03 | 0.08 | 0.14 | 0.23 | 0.38 | 0.22 | 0.34 | 0.15 | 0.38 | 0.16 | 0.19 | 0.18 | 0.13 | 0.16 | 0.42 | 0.40 | 0.32 | 0.35 | 0.31 | 0.28 | 0.33 | 0.45 |
| AVGO | 0.08 | 0.11 | 0.16 | 0.20 | 0.17 | 0.12 | 1.00 | 0.20 | 0.10 | 0.13 | 0.19 | 0.09 | 0.20 | 0.19 | 0.16 | 0.30 | 0.20 | 0.19 | 0.23 | 0.66 | 0.17 | 0.27 | 0.13 | 0.14 | 0.18 | 0.16 | 0.23 | 0.27 | 0.33 | 0.36 | 0.31 | 0.37 | 0.37 | 0.30 |
| ABBV | 0.06 | 0.07 | 0.12 | 0.27 | 0.20 | 0.13 | 0.20 | 1.00 | 0.21 | 0.45 | 0.14 | 0.30 | 0.36 | 0.27 | 0.23 | 0.23 | 0.14 | 0.25 | 0.10 | 0.27 | 0.14 | 0.25 | 0.31 | 0.31 | 0.36 | 0.33 | 0.28 | 0.27 | 0.21 | 0.22 | 0.22 | 0.30 | 0.25 | 0.29 |
| BATS.L | 0.05 | 0.15 | 0.10 | 0.21 | 0.13 | 0.22 | 0.10 | 0.21 | 1.00 | 0.22 | 0.33 | 0.21 | 0.23 | 0.18 | 0.27 | 0.17 | 0.23 | 0.62 | 0.27 | 0.12 | 0.32 | 0.21 | 0.36 | 0.24 | 0.24 | 0.35 | 0.19 | 0.19 | 0.23 | 0.24 | 0.28 | 0.18 | 0.31 | 0.49 |
| JNJ | 0.03 | 0.03 | 0.06 | 0.29 | 0.30 | 0.09 | 0.13 | 0.45 | 0.22 | 1.00 | 0.20 | 0.41 | 0.49 | 0.32 | 0.24 | 0.18 | 0.13 | 0.24 | 0.10 | 0.26 | 0.18 | 0.24 | 0.36 | 0.36 | 0.47 | 0.39 | 0.23 | 0.24 | 0.20 | 0.21 | 0.22 | 0.28 | 0.26 | 0.29 |
| ENEL.MI | 0.07 | 0.21 | 0.07 | 0.27 | 0.18 | 0.26 | 0.19 | 0.14 | 0.33 | 0.20 | 1.00 | 0.22 | 0.23 | 0.23 | 0.18 | 0.24 | 0.36 | 0.28 | 0.33 | 0.23 | 0.42 | 0.26 | 0.20 | 0.25 | 0.26 | 0.24 | 0.16 | 0.19 | 0.26 | 0.27 | 0.29 | 0.25 | 0.37 | 0.51 |
| VZ | 0.02 | 0.03 | 0.09 | 0.17 | 0.28 | 0.12 | 0.09 | 0.30 | 0.21 | 0.41 | 0.22 | 1.00 | 0.40 | 0.35 | 0.28 | 0.20 | 0.16 | 0.24 | 0.15 | 0.19 | 0.21 | 0.26 | 0.39 | 0.65 | 0.43 | 0.37 | 0.25 | 0.27 | 0.19 | 0.21 | 0.20 | 0.30 | 0.27 | 0.30 |
| PEP | 0.05 | 0.03 | 0.06 | 0.30 | 0.40 | 0.03 | 0.20 | 0.36 | 0.23 | 0.49 | 0.23 | 0.40 | 1.00 | 0.43 | 0.30 | 0.19 | 0.07 | 0.26 | 0.07 | 0.28 | 0.12 | 0.31 | 0.42 | 0.34 | 0.71 | 0.45 | 0.19 | 0.17 | 0.18 | 0.19 | 0.17 | 0.21 | 0.24 | 0.23 |
| O | 0.02 | 0.05 | 0.06 | 0.23 | 0.60 | 0.08 | 0.19 | 0.27 | 0.18 | 0.32 | 0.23 | 0.35 | 0.43 | 1.00 | 0.29 | 0.30 | 0.12 | 0.26 | 0.16 | 0.27 | 0.14 | 0.58 | 0.34 | 0.34 | 0.48 | 0.36 | 0.20 | 0.21 | 0.19 | 0.21 | 0.21 | 0.25 | 0.32 | 0.23 |
| UVV | 0.03 | 0.07 | 0.21 | 0.13 | 0.21 | 0.14 | 0.16 | 0.23 | 0.27 | 0.24 | 0.18 | 0.28 | 0.30 | 0.29 | 1.00 | 0.24 | 0.20 | 0.30 | 0.20 | 0.25 | 0.21 | 0.29 | 0.46 | 0.33 | 0.33 | 0.47 | 0.31 | 0.30 | 0.27 | 0.28 | 0.30 | 0.35 | 0.35 | 0.30 |
| HTGC | 0.07 | 0.17 | 0.23 | 0.18 | 0.21 | 0.23 | 0.30 | 0.23 | 0.17 | 0.18 | 0.24 | 0.20 | 0.19 | 0.30 | 0.24 | 1.00 | 0.28 | 0.21 | 0.29 | 0.31 | 0.26 | 0.38 | 0.24 | 0.27 | 0.26 | 0.23 | 0.32 | 0.35 | 0.29 | 0.31 | 0.35 | 0.42 | 0.44 | 0.38 |
| KBC.BR | 0.10 | 0.26 | 0.15 | 0.12 | 0.06 | 0.38 | 0.20 | 0.14 | 0.23 | 0.13 | 0.36 | 0.16 | 0.07 | 0.12 | 0.20 | 0.28 | 1.00 | 0.25 | 0.58 | 0.23 | 0.56 | 0.23 | 0.17 | 0.27 | 0.15 | 0.19 | 0.28 | 0.28 | 0.34 | 0.35 | 0.48 | 0.41 | 0.45 | 0.60 |
| IMBBY | 0.03 | 0.11 | 0.13 | 0.23 | 0.20 | 0.22 | 0.19 | 0.25 | 0.62 | 0.24 | 0.28 | 0.24 | 0.26 | 0.26 | 0.30 | 0.21 | 0.25 | 1.00 | 0.28 | 0.21 | 0.28 | 0.26 | 0.38 | 0.25 | 0.29 | 0.37 | 0.22 | 0.23 | 0.32 | 0.32 | 0.32 | 0.25 | 0.36 | 0.42 |
| NWG.L | 0.09 | 0.25 | 0.15 | 0.10 | 0.08 | 0.34 | 0.23 | 0.10 | 0.27 | 0.10 | 0.33 | 0.15 | 0.07 | 0.16 | 0.20 | 0.29 | 0.58 | 0.28 | 1.00 | 0.26 | 0.55 | 0.25 | 0.17 | 0.25 | 0.17 | 0.20 | 0.30 | 0.29 | 0.36 | 0.36 | 0.56 | 0.43 | 0.45 | 0.61 |
| TXN | 0.09 | 0.12 | 0.18 | 0.25 | 0.24 | 0.15 | 0.66 | 0.27 | 0.12 | 0.26 | 0.23 | 0.19 | 0.28 | 0.27 | 0.25 | 0.31 | 0.23 | 0.21 | 0.26 | 1.00 | 0.20 | 0.33 | 0.20 | 0.24 | 0.26 | 0.25 | 0.30 | 0.32 | 0.40 | 0.42 | 0.36 | 0.43 | 0.42 | 0.36 |
| MAP.MC | 0.11 | 0.25 | 0.15 | 0.14 | 0.08 | 0.38 | 0.17 | 0.14 | 0.32 | 0.18 | 0.42 | 0.21 | 0.12 | 0.14 | 0.21 | 0.26 | 0.56 | 0.28 | 0.55 | 0.20 | 1.00 | 0.22 | 0.21 | 0.26 | 0.21 | 0.23 | 0.30 | 0.29 | 0.32 | 0.32 | 0.48 | 0.39 | 0.43 | 0.61 |
| VICI | 0.06 | 0.09 | 0.14 | 0.21 | 0.46 | 0.16 | 0.27 | 0.25 | 0.21 | 0.24 | 0.26 | 0.26 | 0.31 | 0.58 | 0.29 | 0.38 | 0.23 | 0.26 | 0.25 | 0.33 | 0.22 | 1.00 | 0.32 | 0.31 | 0.36 | 0.32 | 0.29 | 0.30 | 0.27 | 0.28 | 0.29 | 0.36 | 0.39 | 0.32 |
| MO | 0.03 | 0.08 | 0.15 | 0.17 | 0.27 | 0.19 | 0.13 | 0.31 | 0.36 | 0.36 | 0.20 | 0.39 | 0.42 | 0.34 | 0.46 | 0.24 | 0.17 | 0.38 | 0.17 | 0.20 | 0.21 | 0.32 | 1.00 | 0.40 | 0.46 | 0.62 | 0.33 | 0.32 | 0.24 | 0.26 | 0.25 | 0.33 | 0.31 | 0.34 |
| T | 0.06 | 0.09 | 0.15 | 0.17 | 0.23 | 0.18 | 0.14 | 0.31 | 0.24 | 0.36 | 0.25 | 0.65 | 0.34 | 0.34 | 0.33 | 0.27 | 0.27 | 0.25 | 0.25 | 0.24 | 0.26 | 0.31 | 0.40 | 1.00 | 0.41 | 0.40 | 0.34 | 0.33 | 0.26 | 0.28 | 0.31 | 0.41 | 0.38 | 0.39 |
| KO | 0.06 | 0.08 | 0.08 | 0.26 | 0.39 | 0.13 | 0.18 | 0.36 | 0.24 | 0.47 | 0.26 | 0.43 | 0.71 | 0.48 | 0.33 | 0.26 | 0.15 | 0.29 | 0.17 | 0.26 | 0.21 | 0.36 | 0.46 | 0.41 | 1.00 | 0.51 | 0.25 | 0.25 | 0.23 | 0.25 | 0.26 | 0.32 | 0.33 | 0.31 |
| PM | 0.05 | 0.11 | 0.13 | 0.22 | 0.29 | 0.16 | 0.16 | 0.33 | 0.35 | 0.39 | 0.24 | 0.37 | 0.45 | 0.36 | 0.47 | 0.23 | 0.19 | 0.37 | 0.20 | 0.25 | 0.23 | 0.32 | 0.62 | 0.40 | 0.51 | 1.00 | 0.29 | 0.28 | 0.26 | 0.27 | 0.29 | 0.33 | 0.36 | 0.34 |
| XOM | 0.08 | 0.13 | 0.38 | 0.12 | 0.12 | 0.42 | 0.23 | 0.28 | 0.19 | 0.23 | 0.16 | 0.25 | 0.19 | 0.20 | 0.31 | 0.32 | 0.28 | 0.22 | 0.30 | 0.30 | 0.30 | 0.29 | 0.33 | 0.34 | 0.25 | 0.29 | 1.00 | 0.84 | 0.45 | 0.50 | 0.38 | 0.47 | 0.44 | 0.45 |
| CVX | 0.07 | 0.15 | 0.35 | 0.14 | 0.12 | 0.40 | 0.27 | 0.27 | 0.19 | 0.24 | 0.19 | 0.27 | 0.17 | 0.21 | 0.30 | 0.35 | 0.28 | 0.23 | 0.29 | 0.32 | 0.29 | 0.30 | 0.32 | 0.33 | 0.25 | 0.28 | 0.84 | 1.00 | 0.45 | 0.51 | 0.40 | 0.48 | 0.45 | 0.44 |
| RIO | 0.08 | 0.19 | 0.27 | 0.23 | 0.16 | 0.32 | 0.33 | 0.21 | 0.23 | 0.20 | 0.26 | 0.19 | 0.18 | 0.19 | 0.27 | 0.29 | 0.34 | 0.32 | 0.36 | 0.40 | 0.32 | 0.27 | 0.24 | 0.26 | 0.23 | 0.26 | 0.45 | 0.45 | 1.00 | 0.88 | 0.48 | 0.40 | 0.48 | 0.50 |
| BHP | 0.10 | 0.21 | 0.29 | 0.24 | 0.17 | 0.35 | 0.36 | 0.22 | 0.24 | 0.21 | 0.27 | 0.21 | 0.19 | 0.21 | 0.28 | 0.31 | 0.35 | 0.32 | 0.36 | 0.42 | 0.32 | 0.28 | 0.26 | 0.28 | 0.25 | 0.27 | 0.50 | 0.51 | 0.88 | 1.00 | 0.48 | 0.42 | 0.51 | 0.53 |
| HSBC | 0.16 | 0.25 | 0.24 | 0.20 | 0.14 | 0.31 | 0.31 | 0.22 | 0.28 | 0.22 | 0.29 | 0.20 | 0.17 | 0.21 | 0.30 | 0.35 | 0.48 | 0.32 | 0.56 | 0.36 | 0.48 | 0.29 | 0.25 | 0.31 | 0.26 | 0.29 | 0.38 | 0.40 | 0.48 | 0.48 | 1.00 | 0.56 | 0.56 | 0.55 |
| JPM | 0.12 | 0.14 | 0.27 | 0.17 | 0.17 | 0.28 | 0.37 | 0.30 | 0.18 | 0.28 | 0.25 | 0.30 | 0.21 | 0.25 | 0.35 | 0.42 | 0.41 | 0.25 | 0.43 | 0.43 | 0.39 | 0.36 | 0.33 | 0.41 | 0.32 | 0.33 | 0.47 | 0.48 | 0.40 | 0.42 | 0.56 | 1.00 | 0.58 | 0.48 |
| BNS | 0.13 | 0.25 | 0.22 | 0.26 | 0.24 | 0.33 | 0.37 | 0.25 | 0.31 | 0.26 | 0.37 | 0.27 | 0.24 | 0.32 | 0.35 | 0.44 | 0.45 | 0.36 | 0.45 | 0.42 | 0.43 | 0.39 | 0.31 | 0.38 | 0.33 | 0.36 | 0.44 | 0.45 | 0.48 | 0.51 | 0.56 | 0.58 | 1.00 | 0.58 |
| TDGB.L | 0.12 | 0.34 | 0.22 | 0.26 | 0.15 | 0.45 | 0.30 | 0.29 | 0.49 | 0.29 | 0.51 | 0.30 | 0.23 | 0.23 | 0.30 | 0.38 | 0.60 | 0.42 | 0.61 | 0.36 | 0.61 | 0.32 | 0.34 | 0.39 | 0.31 | 0.34 | 0.45 | 0.44 | 0.50 | 0.53 | 0.55 | 0.48 | 0.58 | 1.00 |
The correlation results are calculated based on daily price changes starting from Oct 19, 2017