N1RG34 Correlations

N1RG34 Stock

BRL 564.00 2.81 0.50%

The current 90-days correlation between N1RG34 and A1VY34 is -0.01 (i.e., Good diversification). The correlation of N1RG34 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.

N1RG34 Correlation With Market

Good diversification

The correlation between N1RG34 and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding N1RG34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to N1RG34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace N1RG34 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 N1RG34 - 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 N1RG34 to buy it.

Moving together with N1RG34 Stock

0.68	LOWC34	Lowes Companies	Pair Corr
0.9	HOME34	Home Depot	Pair Corr
0.82	W1MG34	Warner Music Group	Pair Corr
0.91	T1AM34	Atlassian Plc	Pair Corr
0.66	A1VY34	A1VY34	Pair Corr
0.9	COWC34	Costco Wholesale	Pair Corr
0.76	MSFT34	Microsoft	Pair Corr
0.83	TSLA34	Tesla Inc	Pair Corr
0.84	AMZO34	Amazon Inc	Pair Corr
0.87	VISA34	Visa Inc	Pair Corr
0.71	ACNB34	Accenture plc	Pair Corr
0.73	PSSA3	Porto Seguro SA	Pair Corr

Related Correlations Analysis

	VISA34	TSLA34	AMZO34	ACNB34	MSFT34	A1VY34	COWC34	CAON34	PSSA3
VISA34		0.91	0.94	0.79	0.86	0.68	0.95	0.96	0.68	VISA34
TSLA34	0.91		0.95	0.68	0.91	0.82	0.94	0.88	0.6	TSLA34
AMZO34	0.94	0.95		0.75	0.95	0.84	0.96	0.91	0.64	AMZO34
ACNB34	0.79	0.68	0.75		0.75	0.62	0.77	0.78	0.65	ACNB34
MSFT34	0.86	0.91	0.95	0.75		0.89	0.93	0.82	0.56	MSFT34
A1VY34	0.68	0.82	0.84	0.62	0.89		0.8	0.65	0.45	A1VY34
COWC34	0.95	0.94	0.96	0.77	0.93	0.8		0.94	0.64	COWC34
CAON34	0.96	0.88	0.91	0.78	0.82	0.65	0.94		0.72	CAON34
PSSA3	0.68	0.6	0.64	0.65	0.56	0.45	0.64	0.72		PSSA3
	VISA34	TSLA34	AMZO34	ACNB34	MSFT34	A1VY34	COWC34	CAON34	PSSA3

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Risk-Adjusted Indicators

There is a big difference between N1RG34 Stock performing well and N1RG34 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 N1RG34'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
VISA34	1.31	0.42	0.21	(1.50)	1.35	(1.50)	2.64	(1.87)	9.26
TSLA34	3.29	1.17	0.32	(1.76)	2.72	(3.94)	9.04	(6.17)	21.38
AMZO34	1.42	0.48	0.25	(2.13)	1.31	(1.63)	3.42	(2.32)	9.12
ACNB34	1.23	0.30	0.13	(3.98)	1.20	(1.69)	3.48	(2.34)	9.86
MSFT34	1.09	0.20	0.10	(0.75)	1.39	(1.19)	2.55	(1.99)	8.17
A1VY34	0.01	(0.01)	0.00	(1.15)	0.00	0.00	0.00	0.00	0.30
COWC34	1.35	0.28	0.15	(4.89)	1.45	(1.51)	2.87	(2.64)	8.27
CAON34	1.34	0.60	0.23	(8.71)	0.00	(4.26)	5.00	(1.39)	18.60
PSSA3	0.90	0.08	0.04	(6.23)	0.93	(1.07)	2.20	(1.57)	6.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in N1RG34 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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