IRSA Inversiones Correlations

The current 90-days correlation between IRSA Inversiones y and Compania de Transporte is 0.56 (i.e., Very weak diversification). The correlation of IRSA Inversiones 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.

IRSA Inversiones Correlation With Market

Average diversification

The correlation between IRSA Inversiones y and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IRSA Inversiones y and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IRSA Inversiones could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IRSA Inversiones 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 IRSA Inversiones - 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 IRSA Inversiones y to buy it.

Moving together with IRSA Stock

0.9	YPFD	YPF SA D	Pair Corr
0.89	TGSU2	Transportadora de Gas	Pair Corr
0.77	CVH	Cablevision Holding	Pair Corr
0.76	BYMA	Bolsas y Mercados	Pair Corr
0.86	BMA	Banco Macro SA	Pair Corr
0.9	PAMP	Pampa Energia SA	Pair Corr

Related Correlations Analysis

	VZ	TRAN	TECO2	HMY	X	TGSU2
VZ		-0.83	-0.57	0.72	0.72	-0.44	VZ
TRAN	-0.83		0.77	-0.74	-0.82	0.67	TRAN
TECO2	-0.57	0.77		-0.74	-0.66	0.88	TECO2
HMY	0.72	-0.74	-0.74		0.89	-0.53	HMY
X	0.72	-0.82	-0.66	0.89		-0.45	X
TGSU2	-0.44	0.67	0.88	-0.53	-0.45		TGSU2
	VZ	TRAN	TECO2	HMY	X	TGSU2

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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

X	+ 0.89	HMY
TGSU2	+ 0.88	TECO2
TECO2	+ 0.77	TRAN
HMY	+ 0.72	VZ
X	+ 0.72	VZ
TGSU2	+ 0.67	TRAN

High negative correlations

TRAN	- 0.83	VZ
X	- 0.82	TRAN
HMY	- 0.74	TECO2
HMY	- 0.74	TRAN
X	- 0.66	TECO2
TECO2	- 0.57	VZ

Risk-Adjusted Indicators

There is a big difference between IRSA Stock performing well and IRSA Inversiones 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 IRSA Inversiones' 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
VZ	1.12	0.33	0.19	2.03	1.48	(1.31)	2.48	(1.69)	9.27
TRAN	2.88	(0.37)	0.00	(0.30)	0.00	0.00	3.97	(6.53)	24.32
TECO2	2.65	0.06	0.03	2.55	3.05	(3.01)	5.83	(4.83)	15.10
HMY	2.39	0.92	0.31	2.32	2.29	(2.81)	6.43	(3.58)	15.52
X	2.18	0.58	0.25	(7.46)	1.97	(2.59)	5.20	(2.92)	13.20
TGSU2	3.13	0.18	0.06	0.22	3.09	(4.07)	8.12	(4.44)	17.52

IRSA Inversiones 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 IRSA Inversiones stock to make a market-neutral strategy. Peer analysis of IRSA Inversiones could also be used in its relative valuation, which is a method of valuing IRSA Inversiones by comparing valuation metrics with similar companies.

Verizon Communications Compania de Transporte Telecom Argentina Harmony Gold Mining United States Steel Transportadora de Gas American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot

Risk & Return

Correlation

IRSA Inversiones Corporate Management

Elected by the shareholders, the IRSA Inversiones' board of directors comprises two types of representatives: IRSA Inversiones inside directors who are chosen from within the company, and outside directors, selected externally and held independent of IRSA. The board's role is to monitor IRSA Inversiones' management team and ensure that shareholders' interests are well served. IRSA Inversiones' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, IRSA Inversiones' outside directors are responsible for providing unbiased perspectives on the board's policies.

Arnaldo Jawerbaum	Chief Investment Officer	Profile
Santiago Donato	Investor Officer	Profile
Jorge Cruces	Chief Mang	Profile
Eran Saar	Chief Israel	Profile
Matias Gaivironsky	Chief Administrative and Financial Officer	Profile

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