Energisa Correlations

ENGI4 Preferred Stock

BRL 7.22 0.13 1.77%

The current 90-days correlation between Energisa SA and CTEEP Companhia is 0.42 (i.e., Very weak diversification). The correlation of Energisa 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.

Energisa Correlation With Market

Good diversification

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

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

Moving together with Energisa Preferred Stock

0.84	LFTT11	Loft II Fundo	Pair Corr
0.93	BOVA11	iShares Ibovespa Index	Pair Corr
0.94	LJQQ3	Lojas Quero Quero	Pair Corr
0.85	SEQL3	Sequoia Logstica e	Pair Corr
0.88	WEST3	Westwing Comrcio Var	Pair Corr

Moving against Energisa Preferred Stock

0.68

HCST11

Hectare Student Housing

Pair Corr

Related Correlations Analysis

	TRPL4	CPFE3	BTLG11	PLPL3	HBTS5	ATMP3	BEWZ39	B1TI34	SUZB3
TRPL4		0.36	0.6	-0.33	0.5	-0.22	-0.41	0.11	-0.3	TRPL4
CPFE3	0.36		0.69	-0.58	0.68	0.27	-0.65	0.27	-0.59	CPFE3
BTLG11	0.6	0.69		-0.82	0.86	-0.01	-0.78	0.29	-0.56	BTLG11
PLPL3	-0.33	-0.58	-0.82		-0.84	-0.12	0.73	-0.38	0.46	PLPL3
HBTS5	0.5	0.68	0.86	-0.84		0.09	-0.79	0.47	-0.59	HBTS5
ATMP3	-0.22	0.27	-0.01	-0.12	0.09		-0.17	-0.22	-0.54	ATMP3
BEWZ39	-0.41	-0.65	-0.78	0.73	-0.79	-0.17		-0.55	0.68	BEWZ39
B1TI34	0.11	0.27	0.29	-0.38	0.47	-0.22	-0.55		-0.11	B1TI34
SUZB3	-0.3	-0.59	-0.56	0.46	-0.59	-0.54	0.68	-0.11		SUZB3
	TRPL4	CPFE3	BTLG11	PLPL3	HBTS5	ATMP3	BEWZ39	B1TI34	SUZB3

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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

HBTS5	+ 0.86	BTLG11
BEWZ39	+ 0.73	PLPL3
BTLG11	+ 0.69	CPFE3
HBTS5	+ 0.68	CPFE3
SUZB3	+ 0.68	BEWZ39
BTLG11	+ 0.6	TRPL4

High negative correlations

HBTS5	- 0.84	PLPL3
PLPL3	- 0.82	BTLG11
BEWZ39	- 0.79	HBTS5
BEWZ39	- 0.78	BTLG11
BEWZ39	- 0.65	CPFE3
SUZB3	- 0.59	HBTS5

Risk-Adjusted Indicators

There is a big difference between Energisa Preferred Stock performing well and Energisa 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 Energisa'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
TRPL4	0.61	(0.10)	0.00	(0.23)	0.00	0.00	0.82	(1.36)	7.09
CPFE3	0.68	(0.02)	0.00	0.22	0.00	0.00	1.08	(1.15)	7.15
BTLG11	0.51	(0.06)	0.00	0.57	0.00	0.00	1.20	(1.20)	4.73
PLPL3	1.75	0.11	0.02	0.49	1.83	(2.00)	3.98	(3.23)	8.69
HBTS5	1.72	(0.22)	0.00	0.34	0.00	0.00	5.18	(6.25)	20.67
ATMP3	2.38	0.02	0.00	0.06	0.00	0.00	6.38	(5.44)	21.44
BEWZ39	0.94	0.01	(0.05)	0.27	1.28	(0.97)	2.06	(2.07)	8.19
B1TI34	1.01	0.17	0.06	(0.81)	1.08	(1.21)	2.42	(1.94)	6.07
SUZB3	0.94	0.15	0.05	(1.28)	0.90	(1.08)	2.33	(1.65)	6.36

Be your own money manager

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