GGB Gerdau S.A.

Last close: 4.38
504-day return: +51.71%
Median $/day: $47.1M
Relationships shown: 14

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

GGB vs EWZ

Both indexed to 100 at 2026-05-11.

GGB EWZ · range 83–114 · 2026-05-11 → 2026-11-06

Moves with GGB

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

EWZ iShares MSCI Brazil ETF

ρ +0.66beyond mkt +0.49holdout +0.61stable 100%robust

SID Companhia Siderurgica Nacional S.A. (CSN)

ρ +0.62beyond mkt +0.47holdout +0.59stable 100%robust

VALE VALE S.A.

ρ +0.62beyond mkt +0.42holdout +0.58stable 100%robust

SLX VanEck Steel ETF

ρ +0.66beyond mkt +0.40holdout +0.64stable 100%robust

CIG Companhia Energetica De Minas Gerais-CEMIG

ρ +0.50beyond mkt +0.39holdout +0.47stable 100%robust

UGP Ultrapar Participacoes S.A.

ρ +0.49beyond mkt +0.37holdout +0.40stable 100%robust

Moves against GGB

BTAL AGF U.S. Market Neutral Anti-Beta Fund

ρ -0.35beyond mkt +0.04holdout -0.30stable 88%robust

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.36beyond mkt +0.04holdout -0.37stable 88%robust

Weekly, not daily

No day-to-day relationship, but 5- or 10-day returns move together.

MARM FT Vest U.S. Equity Max Buffer ETF - March

horizon 10dρ +0.40holdout +0.47stable 75%robust

APAM ARTISAN PARTNERS ASSET MANAGEMENT INC.

horizon 10dρ +0.38holdout +0.13stable 75%moderate

HYSA BondBloxx High Yield Income ETF

horizon 5dρ +0.33holdout +0.17stable 75%robust

IART Integra LifeSciences Holdings Corporation Common Stock

horizon 5dρ +0.32holdout +0.11stable 75%moderate

JFR Nuveen Floating Rate Income Fund

horizon 5dρ +0.32holdout +0.28stable 38%moderate

PACK Ranpak Holdings Corp.

horizon 5dρ +0.31holdout +0.09stable 88%moderate

Changed this quarter

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

APAM ARTISAN PARTNERS ASSET MANAGEMENT INC.

Δ -0.60recent -0.24prior +0.36beyond mkt +0.01

PACK Ranpak Holdings Corp.

Δ -0.59recent -0.23prior +0.37beyond mkt +0.00

LOW Lowe's Companies Inc.

Δ -0.57recent -0.33prior +0.25beyond mkt -0.11

LCII LCI Industries

Δ -0.57recent -0.23prior +0.34beyond mkt -0.01

CIGI Colliers International Group Inc. Subordinate Voting Shares

Δ -0.57recent -0.31prior +0.26beyond mkt -0.02

THO Thor Industries, Inc.

Δ -0.54recent -0.20prior +0.34beyond mkt -0.05

Hidden links

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
SLX VanEck Steel ETF	+0.40	+0.66	7
VALE VALE S.A.	+0.42	+0.62	16
EWZ iShares MSCI Brazil ETF	+0.49	+0.66	21
SID Companhia Siderurgica Nacional S.A. (CSN)	+0.47	+0.62	22
UGP Ultrapar Participacoes S.A.	+0.37	+0.49	20
CIG Companhia Energetica De Minas Gerais-CEMIG	+0.39	+0.50	21