N1WG34 Correlations

N1WG34 Stock

BRL 62.52 1.32 2.16%

The current 90-days correlation between N1WG34 and Barclays PLC is 0.55 (i.e., Very weak diversification). The correlation of N1WG34 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.

N1WG34 Correlation With Market

Average diversification

The correlation between N1WG34 and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding N1WG34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to N1WG34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace N1WG34 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 N1WG34 - 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 N1WG34 to buy it.

Moving together with N1WG34 Stock

0.95	H1SB34	HSBC Holdings plc	Pair Corr
0.93	WFCO34	Wells Fargo	Pair Corr
0.98	B1CS34	Barclays PLC	Pair Corr
0.76	TMCO34	Toyota Motor	Pair Corr
0.83	SNEC34	Sony Group Split	Pair Corr
0.96	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.95	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.84	TSMC34	Taiwan Semiconductor	Pair Corr
0.93	NMRH34	Nomura Holdings	Pair Corr
0.92	H1DB34	HDFC Bank Limited	Pair Corr
0.86	AAPL34	Apple Inc	Pair Corr
0.95	WALM34	Walmart	Pair Corr
0.93	MSBR34	Morgan Stanley	Pair Corr
0.96	A1TM34	A1TM34	Pair Corr
0.92	HONB34	Honeywell International	Pair Corr
0.84	E1RI34	Telefonaktiebolaget	Pair Corr
0.61	FHER3	Fertilizantes Heringer	Pair Corr
0.64	B1NT34	BIONTECH SE DRN	Pair Corr
0.89	AIRB34	Airbnb Inc	Pair Corr
0.88	TSLA34	Tesla Inc	Pair Corr
0.94	JBSS3	JBS SA	Pair Corr
0.93	AXPB34	American Express	Pair Corr
0.93	MRFG3	Marfrig Global Foods	Pair Corr
0.85	A1LK34	A1LK34	Pair Corr
0.87	MSFT34	Microsoft	Pair Corr
0.66	F1NI34	Fidelity National	Pair Corr
0.79	ACNB34	Accenture plc	Pair Corr
0.88	A1VB34	AvalonBay Communities	Pair Corr
0.9	ABTT34	Abbott Laboratories	Pair Corr
0.91	F1IS34	Fiserv Inc	Pair Corr
0.94	CAON34	Capital One Financial	Pair Corr
0.76	PSSA3	Porto Seguro SA	Pair Corr

Moving against N1WG34 Stock

0.79

HOND34

Honda Motor

Pair Corr

Related Correlations Analysis

	H1SB34	B1CS34	N1WG34	P2LT34	WEGE3	PSSA3	CGRA4	MSFT34	B1NT34
H1SB34		0.93	0.95	0.94	0.27	0.67	0.44	0.92	0.69	H1SB34
B1CS34	0.93		0.98	0.94	0.23	0.74	0.39	0.88	0.6	B1CS34
N1WG34	0.95	0.98		0.94	0.24	0.76	0.37	0.87	0.64	N1WG34
P2LT34	0.94	0.94	0.94		0.16	0.68	0.51	0.88	0.68	P2LT34
WEGE3	0.27	0.23	0.24	0.16		0.23	0.18	0.38	0.17	WEGE3
PSSA3	0.67	0.74	0.76	0.68	0.23		0.16	0.56	0.38	PSSA3
CGRA4	0.44	0.39	0.37	0.51	0.18	0.16		0.57	0.53	CGRA4
MSFT34	0.92	0.88	0.87	0.88	0.38	0.56	0.57		0.71	MSFT34
B1NT34	0.69	0.6	0.64	0.68	0.17	0.38	0.53	0.71		B1NT34
	H1SB34	B1CS34	N1WG34	P2LT34	WEGE3	PSSA3	CGRA4	MSFT34	B1NT34

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Risk-Adjusted Indicators

There is a big difference between N1WG34 Stock performing well and N1WG34 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 N1WG34'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
H1SB34	0.93	0.33	0.23	(1.48)	0.92	(1.10)	2.06	(1.44)	7.71
B1CS34	1.57	0.31	0.15	1.05	1.54	(1.83)	3.30	(2.64)	10.43
N1WG34	1.23	0.34	0.22	0.95	1.00	(1.43)	2.74	(2.23)	9.15
P2LT34	2.84	1.46	0.61	10.57	1.54	(3.60)	7.31	(3.44)	26.68
WEGE3	1.24	0.04	0.00	(0.32)	1.62	(1.29)	2.73	(2.34)	8.61
PSSA3	0.90	0.08	0.04	(6.23)	0.93	(1.07)	2.20	(1.57)	6.00
CGRA4	1.12	0.14	0.06	(0.36)	1.37	(1.25)	3.02	(2.68)	10.24
MSFT34	1.09	0.20	0.10	(0.75)	1.39	(1.19)	2.55	(1.99)	8.17
B1NT34	2.00	0.26	0.08	(0.88)	2.43	(2.32)	5.30	(4.55)	13.89

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Our tools can tell you how much better you can do entering a position in N1WG34 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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