Hedge Aaa Correlations

HAAA11 Fund  BRL 25.13  0.00  0.00%   
The current 90-days correlation between Hedge Aaa Fundo and Energisa SA is 0.14 (i.e., Average diversification). The correlation of Hedge Aaa 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.

Hedge Aaa Correlation With Market

Average diversification

The correlation between Hedge Aaa Fundo and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hedge Aaa Fundo and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hedge Aaa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hedge Aaa 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 Hedge Aaa - 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 Hedge Aaa Fundo 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   
PLPL3ENGI11
C1AB34S1YM34
C1AB34E1RI34
C1AB34PGCO34
S1YM34PGCO34
PGCO34HBTS5
  
High negative correlations   
S1YM34BVAR11
C1AB34BVAR11
A2RE34ENGI11
E1RI34PLPL3
A2RE34PLPL3
E1RI34BVAR11

Risk-Adjusted Indicators

There is a big difference between Hedge Fund performing well and Hedge Aaa 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 Hedge Aaa'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  1.66 (0.02) 0.03  0.05  1.82 
 3.23 
 7.45 
BTLG11  0.89 (0.02) 0.00 (0.25) 0.00 
 1.52 
 8.02 
PLPL3  2.71 (0.25) 0.00 (0.54) 0.00 
 4.83 
 18.01 
A2RE34  1.30 (0.04) 0.00 (0.26) 0.00 
 2.20 
 7.11 
HBTS5  0.97  0.02  0.00 (0.04) 0.00 
 3.57 
 15.54 
BVAR11  0.04  0.01  0.00  0.24  0.00 
 0.00 
 0.60 
PGCO34  1.38  0.00  0.03 (0.02) 1.97 
 2.36 
 9.19 
S1YM34  0.15 (0.09) 0.00  0.30  0.00 
 0.00 
 5.51 
E1RI34  1.10  0.08  0.04  1.16  2.13 
 2.83 
 17.93 
C1AB34  1.69 (0.62) 0.00 (2.22) 0.00 
 2.15 
 22.49 

Be your own money manager

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