CASAN Companhia Correlations

Stocks . Brazil . 
Stock . CASAN Companhia
CASN3 Stock  BRL 8.81  0.00  0.00%   
The current 90-days correlation between CASAN Companhia and Unity Software is -0.07 (i.e., Good diversification). The correlation of CASAN Companhia 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CASAN Companhia Correlation With Market

Good diversification

The correlation between CASAN Companhia and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CASAN Companhia and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CASAN Companhia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CASAN Companhia 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 CASAN Companhia - 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 CASAN Companhia to buy it.

Moving together with CASAN Stock

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  0.89GOGL34 AlphabetPairCorr
  0.75AMZO34 Amazon IncPairCorr
  0.76H1SB34 HSBC Holdings plcPairCorr
  0.7D1OC34 DocuSignPairCorr
  0.69A2SO34 Academy SportsPairCorr
  0.94AVGO34 BroadcomPairCorr
  0.64D1XC34 DXC TechnologyPairCorr
  0.85B2UR34 Burlington Stores,PairCorr
  0.93R1OP34 Roper Technologies,PairCorr

Moving against CASAN Stock

  0.78CSMG3 Companhia de SaneamentoPairCorr
  0.62SBSP3 Companhia de SaneamentoPairCorr
  0.41BABA34 Alibaba Group HoldingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CASAN Stock performing well and CASAN Companhia 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 CASAN Companhia'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.

Be your own money manager

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