PBR PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE)

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

Same exposure: PBR.A move almost identically to PBR (|ρ| ≥ 0.93). Same-day relationships for the group are listed here.

PBR vs EWZ

Both indexed to 100 at 2026-05-11.

PBR EWZ · range 78–131 · 2026-05-11 → 2026-11-06

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

EWZ iShares MSCI Brazil ETF

ρ +0.50beyond mkt +0.56holdout +0.32stable 100%robust

UGP Ultrapar Participacoes S.A.

ρ +0.48beyond mkt +0.41holdout +0.47stable 100%robust

EC Ecopetrol S.A

ρ +0.58beyond mkt +0.28holdout +0.57stable 100%robust

PAM PAMPA ENERGIA S.A.

ρ +0.43beyond mkt +0.25holdout +0.53stable 100%robust

TGS Transportadora de Gas del Sur S.A. ADS

ρ +0.43beyond mkt +0.24holdout +0.51stable 100%robust

VIST Vista Energy S.A.B. de C.V.

ρ +0.55beyond mkt +0.23holdout +0.64stable 100%robust

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

CRT Cross Timbers Royalty Trust

horizon 10dρ +0.49holdout +0.41stable 25%moderate

BSBR BANCO SANTANDER (BRASIL) SA

horizon 10dρ +0.40holdout +0.32stable 62%moderate

UAL United Airlines Holdings, Inc. Common Stock

horizon 10dρ -0.36holdout -0.70stable 50%moderate

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

AER Aercap Holdings N.V.

Δ -0.63recent -0.57prior +0.05beyond mkt +0.06

RHP Ryman Hospitality Properties, Inc

Δ -0.57recent -0.41prior +0.16beyond mkt +0.08

EVGO EVgo Inc. Class A Common Stock

Δ -0.57recent -0.45prior +0.12beyond mkt +0.01

RJET Republic Airways Holdings Inc. Common Stock

Δ -0.55recent -0.59prior -0.03beyond mkt -0.02

FIP FTAI Infrastructure Inc. Common Stock

Δ -0.55recent -0.33prior +0.22beyond mkt +0.11

BDN Brandywine Realty Trust

Δ -0.53recent -0.43prior +0.11beyond mkt -0.02

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

Symbol	beyond mkt	raw ρ	shared	isolation
EWZ iShares MSCI Brazil ETF	+0.56	+0.50	23
UGP Ultrapar Participacoes S.A.	+0.41	+0.48	22