H1II34 Correlations

H1II34 Stock

BRL 15.50 0.90 5.49%

The current 90-days correlation between H1II34 and Raytheon Technologies is 0.08 (i.e., Significant diversification). The correlation of H1II34 is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

H1II34 Correlation With Market

Very good diversification

The correlation between H1II34 and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding H1II34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to H1II34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace H1II34 when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back H1II34 - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling H1II34 to buy it.

Moving together with H1II34 Stock

0.66	TASA4	Taurus Armas SA	Pair Corr
0.7	TASA3	Taurus Armas SA	Pair Corr

Moving against H1II34 Stock

0.77	H1SB34	HSBC Holdings plc	Pair Corr
0.75	AMZO34	Amazon Inc	Pair Corr
0.7	GOGL35	Alphabet	Pair Corr
0.69	BERK34	Berkshire Hathaway	Pair Corr
0.67	GOGL34	Alphabet	Pair Corr
0.53	TSMC34	Taiwan Semiconductor	Pair Corr
0.53	AAPL34	Apple Inc	Pair Corr
0.53	MSFT34	Microsoft	Pair Corr
0.33	RYTT34	Raytheon Technologies	Pair Corr
0.86	GGBR3	Gerdau SA	Pair Corr
0.8	CAON34	Capital One Financial	Pair Corr
0.79	VISA34	Visa Inc	Pair Corr
0.77	MSBR34	Morgan Stanley	Pair Corr
0.72	HONB34	Honeywell International	Pair Corr
0.71	COWC34	Costco Wholesale	Pair Corr
0.71	WALM34	Walmart	Pair Corr
0.71	TSLA34	Tesla Inc	Pair Corr
0.69	CTKA3	Karsten SA	Pair Corr
0.68	PSSA3	Porto Seguro SA	Pair Corr
0.68	A1VB34	AvalonBay Communities	Pair Corr
0.5	RCSL4	Recrusul SA	Pair Corr
0.44	ACNB34	Accenture plc	Pair Corr
0.43	A1VY34	A1VY34	Pair Corr
0.34	FHER3	Fertilizantes Heringer	Pair Corr

Related Correlations Analysis

	RYTT34	BOEI34	LMTB34	NOCG34	GDBR34	H1II34	TASA4	TASA3
RYTT34		0.23	0.03	0.26	0.33	-0.33	-0.72	-0.72	RYTT34
BOEI34	0.23		-0.61	-0.34	-0.41	-0.24	-0.52	-0.53	BOEI34
LMTB34	0.03	-0.61		0.52	0.44	0.57	0.48	0.5	LMTB34
NOCG34	0.26	-0.34	0.52		0.7	0.12	0.17	0.15	NOCG34
GDBR34	0.33	-0.41	0.44	0.7		0.14	0.2	0.15	GDBR34
H1II34	-0.33	-0.24	0.57	0.12	0.14		0.66	0.7	H1II34
TASA4	-0.72	-0.52	0.48	0.17	0.2	0.66		0.98	TASA4
TASA3	-0.72	-0.53	0.5	0.15	0.15	0.7	0.98		TASA3
	RYTT34	BOEI34	LMTB34	NOCG34	GDBR34	H1II34	TASA4	TASA3

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TASA3	+ 0.98	TASA4
GDBR34	+ 0.7	NOCG34
TASA3	+ 0.7	H1II34
TASA4	+ 0.66	H1II34
H1II34	+ 0.57	LMTB34
NOCG34	+ 0.52	LMTB34

High negative correlations

TASA3	- 0.72	RYTT34
TASA4	- 0.72	RYTT34
LMTB34	- 0.61	BOEI34
TASA3	- 0.53	BOEI34
TASA4	- 0.52	BOEI34
GDBR34	- 0.41	BOEI34

Risk-Adjusted Indicators

There is a big difference between H1II34 Stock performing well and H1II34 Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze H1II34's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYTT34	1.07	0.14	0.09	0.99	1.22	(1.23)	2.18	(2.04)	9.72
BOEI34	1.84	0.39	0.14	(2.26)	2.23	(1.94)	3.42	(3.62)	10.08
LMTB34	1.10	(0.06)	0.00	(0.29)	0.00	0.00	2.64	(2.22)	10.13
NOCG34	0.88	0.02	0.00	(0.14)	1.39	(1.35)	2.27	(2.56)	10.15
GDBR34	1.03	(0.03)	0.00	(1.84)	0.00	0.00	2.42	(2.76)	9.91
H1II34	1.91	(0.27)	0.00	0.27	0.00	0.00	4.84	(5.49)	31.30
TASA4	1.52	(0.43)	0.00	(0.43)	0.00	0.00	2.27	(3.33)	11.84
TASA3	1.37	(0.36)	0.00	(0.48)	0.00	0.00	3.45	(3.11)	10.92

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Our tools can tell you how much better you can do entering a position in H1II34 without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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