Avaliação da correlação da rentabilidade de empresas da bolsa de valores: Braskem, CVC, Eletrobrás, JBS e Banco Santander durante a pandemia de COVID-19

Abstract

The capital market presents us with several types of investments such as the issuance and subscription of shares. Investing in the stock market, buying and selling stocks, poses a risk. In this context, there is a certain difficulty in predicting information about stock values, so some criteria are very important to be observed to build a safe and efficient investment port folio. Some of them are: the analysis of the investor's profile, the profitability of the shares, time series and correlation. For moderate investors, it is interesting to assemble a diversified portfolio, where investments have a weak correlation so that the fall of one stock is prevent ed from influencing the other. One factor that strongly impacted the Brazilian stock ex change was the COVID-19 pandemic. Because of this event, investors start dealing with money in a different way. This work aims to analyze the performance of some companies listed on the Brazilian stock exchange, including Eletrobras, Braskem, CVC, Banco Santan der and JBS. These companies were observed during the pandé-mico period in the time in terval between December 1, 2019 and July 30, 2021. For this analysis, a Notebook was de veloped in Google Colaboratory, which provided us with the necessary information regard ing organizations and finally calculated the correlation coefficient of profitability between them. The highest correlations were verified between Santander and Eletrobras (ρ = 0.59). The weakest correlations were between cvc and jbs (ρ = 0.33) and Eletrobras and JBS (ρ = 0.38). Thus, it is recommended that conservative investors should diversify their investment portfolio with companies that belong to different sectors. This is because the fall or rise in the value of the profitability of each company is independent, minimizing risk. It is notewor thy that this work is not an investment recommendation, having only scientific character.