SBS COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S

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

SBS vs EWZ

Both indexed to 100 at 2026-05-11.

SBS EWZ · range 71–114 · 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 +0.78beyond mkt +0.73holdout +0.77stable 100%robust

CIG Companhia Energetica De Minas Gerais-CEMIG

ρ +0.71beyond mkt +0.64holdout +0.77stable 100%robust

BSBR BANCO SANTANDER (BRASIL) SA

ρ +0.66beyond mkt +0.55holdout +0.57stable 100%robust

UGP Ultrapar Participacoes S.A.

ρ +0.56beyond mkt +0.49holdout +0.42stable 100%robust

INTR Inter & Co. Inc. Class A Common Shares

ρ +0.59beyond mkt +0.49holdout +0.57stable 100%robust

XP XP Inc. Class A Common Stock

ρ +0.57beyond mkt +0.47holdout +0.63stable 100%robust

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

SAMG Silvercrest Asset Management Group Inc. Class A Common Stock

Δ -0.52recent -0.34prior +0.18beyond mkt -0.01

CGTL Creative Global Technology Holdings Limited Class A Ordinary Shares

Δ -0.49recent -0.38prior +0.11beyond mkt +0.01

DLHC DLH Holdings Corp.

Δ +0.44recent +0.45prior +0.01beyond mkt +0.01

HURN Huron Consulting Group Inc. Common Stock

Δ -0.44recent -0.42prior +0.01beyond mkt -0.07

SGRX SANGRIX INC. Class A Ordinary Shares

Δ -0.42recent -0.33prior +0.09beyond mkt -0.12

SU Suncor Energy, Inc.

Δ -0.41recent -0.30prior +0.11beyond mkt -0.01

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

Symbol	beyond mkt	raw ρ	shared
CGW Invesco S&P Global Water Index ETF	+0.38	+0.49	8
PAGS PagSeguro Digital Ltd.	+0.39	+0.48	18
STNE StoneCo Ltd. Class A Common Shares	+0.42	+0.51	19
ABEV AMBEV S.A.	+0.42	+0.53	21
INTR Inter & Co. Inc. Class A Common Shares	+0.49	+0.59	23
BSBR BANCO SANTANDER (BRASIL) SA	+0.55	+0.66	24