Manufatura Correlations

Preferred Stocks Brazil . 
Preferred Stock . Manufatura de Brinquedos
ESTR4 Preferred Stock  BRL 3.56  0.07  2.01%   
The current 90-days correlation between Manufatura de Brinquedos and Companhia de Gs is -0.21 (i.e., Very good diversification). The correlation of Manufatura 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Manufatura Correlation With Market

Good diversification

The correlation between Manufatura de Brinquedos and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manufatura de Brinquedos and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Manufatura could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Manufatura 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 Manufatura - 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 Manufatura de Brinquedos to buy it.

Moving against Manufatura Preferred Stock

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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   
POMO4
+ 0.48
CGAS5
SGPS3
+ 0.0
CGAS5
CTNM3
+ 0.0
CGAS5
POMO4
+ 0.0
SGPS3
INEP4
+ 0.0
SGPS3
POMO4
+ 0.0
CTNM3
  
High negative correlations   
CTNM3
- 1.0
SGPS3
INEP4
- 0.69
POMO4
INEP4
- 0.58
CGAS5
INEP4
- 0.0
CTNM3
POMO4
- 0.0
CTNM3
INEP4
- 0.0
SGPS3

Risk-Adjusted Indicators

There is a big difference between Manufatura Preferred Stock performing well and Manufatura 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 Manufatura'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Manufatura 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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