IRIDIUM FUNDO Correlations

IRIM11 Fund   65.98  0.94  1.40%   
The current 90-days correlation between IRIDIUM FUNDO DE and Energisa SA is -0.02 (i.e., Good diversification). The correlation of IRIDIUM FUNDO 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.

IRIDIUM FUNDO Correlation With Market

Good diversification

The correlation between IRIDIUM FUNDO DE and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IRIDIUM FUNDO DE and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IRIDIUM FUNDO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IRIDIUM FUNDO 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 IRIDIUM FUNDO - 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 IRIDIUM FUNDO DE to buy it.

Related Correlations Analysis

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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   
BTLG11ENGI11
HBTS5ENGI11
B1TI34PGCO34
SUZB3C1AB34
SUZB3E1RI34
HBTS5BTLG11
  
High negative correlations   
SUZB3ENGI11
E1RI34BTLG11
E1RI34HBTS5
E1RI34ENGI11
BEWZ39HBTS5
SUZB3BTLG11

Risk-Adjusted Indicators

There is a big difference between IRIDIUM Fund performing well and IRIDIUM FUNDO Fund 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 IRIDIUM FUNDO'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ENGI11  1.06 (0.28) 0.00 (11.14) 0.00 
 2.44 
 6.68 
BTLG11  0.59 (0.19) 0.00  2.98  0.00 
 0.98 
 5.13 
PLPL3  1.84 (0.01) 0.00  0.83  0.00 
 3.33 
 13.45 
HBTS5  1.78 (0.28) 0.00  0.48  0.00 
 5.18 
 20.67 
PGCO34  1.14  0.20  0.05 (4.15) 1.08 
 2.60 
 9.04 
E1RI34  1.33  0.35  0.12 (1.31) 0.85 
 3.62 
 16.05 
C1AB34  1.34  0.42  0.09 (1.00) 1.68 
 4.00 
 13.73 
BEWZ39  0.99  0.05 (0.06)(2.47) 1.42 
 2.06 
 8.74 
B1TI34  0.99  0.13  0.00  1.50  1.09 
 2.50 
 6.07 
SUZB3  1.02  0.31  0.11 (0.58) 0.80 
 2.63 
 6.36 

IRIDIUM FUNDO Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IRIDIUM FUNDO fund to make a market-neutral strategy. Peer analysis of IRIDIUM FUNDO could also be used in its relative valuation, which is a method of valuing IRIDIUM FUNDO by comparing valuation metrics with similar companies.
 Risk & Return  Correlation