Myinvestor Indexado Correlations

0P0001LIG7

16.15 0.03 0.19%

The current 90-days correlation between Myinvestor Indexado and Metrovacesa SA is -0.21 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Myinvestor Indexado moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Myinvestor Indexado Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Myinvestor Indexado Correlation With Market

Significant diversification

The correlation between Myinvestor Indexado Global and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Myinvestor Indexado Global and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	MVC	END	MAP	AMP	ALC	CCEP	ATRY	CLNX	ITX	CASH
MVC		-0.64	0.64	0.35	0.06	-0.09	-0.4	-0.31	0.57	0.1	MVC
END	-0.64		-0.57	-0.2	0.16	-0.09	0.64	0.37	-0.35	0.13	END
MAP	0.64	-0.57		0.75	0.08	0.02	-0.3	-0.63	0.71	-0.02	MAP
AMP	0.35	-0.2	0.75		0.29	-0.14	0.1	-0.41	0.64	0.17	AMP
ALC	0.06	0.16	0.08	0.29		-0.46	0.47	0.16	0.31	0.53	ALC
CCEP	-0.09	-0.09	0.02	-0.14	-0.46		-0.28	-0.25	-0.16	-0.35	CCEP
ATRY	-0.4	0.64	-0.3	0.1	0.47	-0.28		0.33	-0.03	0.37	ATRY
CLNX	-0.31	0.37	-0.63	-0.41	0.16	-0.25	0.33		-0.03	0.64	CLNX
ITX	0.57	-0.35	0.71	0.64	0.31	-0.16	-0.03	-0.03		0.59	ITX
CASH	0.1	0.13	-0.02	0.17	0.53	-0.35	0.37	0.64	0.59		CASH
	MVC	END	MAP	AMP	ALC	CCEP	ATRY	CLNX	ITX	CASH

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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

AMP	+ 0.75	MAP
ITX	+ 0.71	MAP
MAP	+ 0.64	MVC
ATRY	+ 0.64	END
ITX	+ 0.64	AMP
CASH	+ 0.64	CLNX

High negative correlations

END	- 0.64	MVC
CLNX	- 0.63	MAP
MAP	- 0.57	END
CCEP	- 0.46	ALC
CLNX	- 0.41	AMP
ATRY	- 0.4	MVC

Risk-Adjusted Indicators

There is a big difference between Myinvestor Fund performing well and Myinvestor Indexado 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 Myinvestor Indexado'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
MVC	0.75	0.03	(0.08)	0.47	0.69	(1.09)	1.76	(1.39)	3.85
END	1.27	(0.14)	0.00	(0.22)	0.00	0.00	3.39	(3.36)	11.59
MAP	0.89	0.16	0.05	1.51	0.82	(1.17)	1.67	(1.91)	6.78
AMP	1.84	0.18	0.02	1.17	2.50	(4.88)	10.00	(8.33)	19.09
ALC	1.34	(0.04)	0.00	(0.09)	0.00	0.00	2.51	(4.33)	14.38
CCEP	0.83	0.12	0.01	1.80	0.78	(1.86)	2.72	(2.19)	6.94
ATRY	1.36	(0.23)	0.00	(0.62)	0.00	0.00	3.74	(2.54)	8.76
CLNX	1.09	(0.10)	0.00	(0.65)	0.00	0.00	2.27	(2.44)	6.49
ITX	0.94	0.07	(0.01)	0.32	0.92	(1.09)	2.20	(1.69)	6.46
CASH	0.99	0.06	(0.04)	(0.13)	1.15	(2.23)	1.96	(1.89)	7.22

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

Metrovacesa SA Endurance Motive SA Mapfre Amper SA Altia Consultores SA Coca Cola European Partners Atrys Health SL Cellnex Telecom SA Industria de Diseno Prosegur Cash SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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