Renda De Correlations

NEWU11 Fund

BRL 74.50 1.25 1.71%

The current 90-days correlation between Renda de Escritorios and BTG Pactual Logstica is 0.13 (i.e., Average diversification). The correlation of Renda De 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.

Renda De Correlation With Market

Good diversification

The correlation between Renda de Escritorios and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Renda de Escritorios and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Renda Fund

0.76	BTAG11	BTG PACTUAL CRDITO	Pair Corr
0.69	HPDP11	Hedge Real Estate	Pair Corr
0.68	HCHG11	Hectare Recebiveis High	Pair Corr
0.63	VVCR11	V2 Recebveis Imobilirios	Pair Corr
0.6	RNDP11	BB Renda de	Pair Corr
0.58	VCJR11	Vectis Juros Real	Pair Corr
0.58	HSML11	Hsi Malls Fundo	Pair Corr
0.57	BIME11	Brio Multiestrategi Fundo	Pair Corr
0.56	HOFC11	HEDGE OFFICE INCOME	Pair Corr
0.43	MALL11	Malls Brasil Fundo	Pair Corr
0.38	IRDM11	Fundo Investimento	Pair Corr
0.35	HGRU11	CSHG Renda Urbana	Pair Corr
0.82	OULG11	Pedra Dourada Fundo	Pair Corr
0.74	TSER11	Tishman Speyer Renda	Pair Corr
0.63	HDEL11	HEDGE DESENVOLVIMENTO	Pair Corr
0.63	VISC11	Vinci Shopping Centers	Pair Corr
0.62	HSAF11	Hsi Ativos Financeiros	Pair Corr
0.59	HSRE11	Hsi Renda Imobiliario	Pair Corr
0.55	ZAVI11	ZAVIT REAL ESTATE	Pair Corr
0.53	HUCG11	FDO INV IMOB	Pair Corr
0.48	PNRC11	PANORAMA REAL ESTATE	Pair Corr
0.37	JPPA11	JPP Allocation Mogno	Pair Corr
0.36	HGCR11	CSHG Recebiveis Imob	Pair Corr
0.34	SNEL11	Fundo De Investimento	Pair Corr

Related Correlations Analysis

	NEWU11	BVAR11	SPMO11	NCHB11	NCRI11	LIFE11	HGPO11	KORE11	BTLG11
NEWU11		-0.23	0.0	0.12	0.3	-0.21	-0.08	0.24	-0.24	NEWU11
BVAR11	-0.23		0.0	0.44	0.16	0.13	0.79	0.25	0.43	BVAR11
SPMO11	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SPMO11
NCHB11	0.12	0.44	0.0		0.59	0.23	0.54	0.91	0.6	NCHB11
NCRI11	0.3	0.16	0.0	0.59		-0.08	0.41	0.57	0.3	NCRI11
LIFE11	-0.21	0.13	0.0	0.23	-0.08		0.11	0.06	0.43	LIFE11
HGPO11	-0.08	0.79	0.0	0.54	0.41	0.11		0.41	0.56	HGPO11
KORE11	0.24	0.25	0.0	0.91	0.57	0.06	0.41		0.46	KORE11
BTLG11	-0.24	0.43	0.0	0.6	0.3	0.43	0.56	0.46		BTLG11
	NEWU11	BVAR11	SPMO11	NCHB11	NCRI11	LIFE11	HGPO11	KORE11	BTLG11

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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

KORE11	+ 0.91	NCHB11
HGPO11	+ 0.79	BVAR11
BTLG11	+ 0.6	NCHB11
NCRI11	+ 0.59	NCHB11
KORE11	+ 0.57	NCRI11
BTLG11	+ 0.56	HGPO11

High negative correlations

BTLG11	- 0.24	NEWU11
BVAR11	- 0.23	NEWU11
LIFE11	- 0.21	NEWU11
LIFE11	- 0.08	NCRI11
HGPO11	- 0.08	NEWU11
BTLG11	- 0.0	SPMO11

Risk-Adjusted Indicators

There is a big difference between Renda Fund performing well and Renda De 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 Renda De'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
NEWU11	2.00	(0.27)	0.00	0.59	0.00	0.00	6.25	(4.28)	26.53
BVAR11	0.07	0.02	0.00	(1.27)	0.00	0.00	0.45	0.00	0.60
SPMO11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NCHB11	1.02	0.19	0.28	(1.12)	0.93	(1.28)	2.48	(2.08)	6.12
NCRI11	2.35	0.07	0.07	(0.24)	2.72	(2.48)	5.87	(4.64)	12.07
LIFE11	2.02	0.21	0.12	(1.83)	2.33	(2.41)	4.06	(4.90)	17.99
HGPO11	0.74	0.14	0.23	0.56	0.73	(0.81)	1.84	(1.35)	4.83
KORE11	1.16	0.20	0.26	(0.79)	1.05	(1.38)	2.74	(2.72)	8.96
BTLG11	0.65	0.15	0.26	2.68	0.56	(0.67)	1.52	(0.98)	8.02

Be your own money manager

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