ITSA3F Correlations

ITSA3F Stock

BRL 12.10 0.10 0.82%

The current 90-days correlation between ITSA3F and Electronic Arts is -0.26 (i.e., Very good diversification). The correlation of ITSA3F 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.

ITSA3F Correlation With Market

Average diversification

The correlation between ITSA3F and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ITSA3F and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ITSA3F could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ITSA3F 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 ITSA3F - 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 ITSA3F to buy it.

Moving together with ITSA3F Stock

0.68	B1SA34	Banco Santander Chile	Pair Corr
0.78	GOGL35	Alphabet	Pair Corr
0.81	GOGL34	Alphabet	Pair Corr
0.63	UPSS34	United Parcel Service	Pair Corr
0.67	N2LY34	Annaly Capital Management	Pair Corr
0.76	BPAC5	Banco BTG Pactual	Pair Corr
0.71	JSLG3	JSL SA	Pair Corr
0.63	A1MT34	Applied Materials	Pair Corr
0.78	C1BO34	Cboe Global Markets	Pair Corr
0.64	B1TI34	British American Tobacco	Pair Corr
0.77	C1MI34	Cummins	Pair Corr
0.73	ANIM3F	ANIM3F	Pair Corr

Moving against ITSA3F Stock

0.74	MSFT34	Microsoft	Pair Corr
0.71	JDCO34	JD Inc	Pair Corr
0.67	HOME34	Home Depot	Pair Corr
0.51	BABA34	Alibaba Group Holding	Pair Corr
0.45	W1SO34	Watsco	Pair Corr
0.44	BURA39	BURA39 Split	Pair Corr

Related Correlations Analysis

	EAIN34	C2ZR34	C1HK34	FRIO3	GOAU4	T1TW34	MTSA4	LEVE3
EAIN34		-0.25	-0.16	-0.62	0.58	0.5	0.78	0.41	EAIN34
C2ZR34	-0.25		0.15	-0.07	-0.38	0.15	-0.41	-0.5	C2ZR34
C1HK34	-0.16	0.15		-0.14	-0.67	0.03	-0.39	-0.32	C1HK34
FRIO3	-0.62	-0.07	-0.14		-0.34	-0.25	-0.42	-0.31	FRIO3
GOAU4	0.58	-0.38	-0.67	-0.34		-0.11	0.8	0.8	GOAU4
T1TW34	0.5	0.15	0.03	-0.25	-0.11		0.21	-0.41	T1TW34
MTSA4	0.78	-0.41	-0.39	-0.42	0.8	0.21		0.62	MTSA4
LEVE3	0.41	-0.5	-0.32	-0.31	0.8	-0.41	0.62		LEVE3
	EAIN34	C2ZR34	C1HK34	FRIO3	GOAU4	T1TW34	MTSA4	LEVE3

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

MTSA4	+ 0.8	GOAU4
LEVE3	+ 0.8	GOAU4
MTSA4	+ 0.78	EAIN34
LEVE3	+ 0.62	MTSA4
GOAU4	+ 0.58	EAIN34
T1TW34	+ 0.5	EAIN34

High negative correlations

GOAU4	- 0.67	C1HK34
FRIO3	- 0.62	EAIN34
LEVE3	- 0.5	C2ZR34
MTSA4	- 0.42	FRIO3
LEVE3	- 0.41	T1TW34
MTSA4	- 0.41	C2ZR34

Risk-Adjusted Indicators

There is a big difference between ITSA3F Stock performing well and ITSA3F 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 ITSA3F'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
EAIN34	0.37	0.00	(0.08)	(2.35)	0.66	(0.55)	1.22	(1.00)	5.93
C2ZR34	0.63	(0.02)	0.00	0.14	0.00	0.00	1.75	(0.38)	15.23
C1HK34	0.11	(0.05)	0.00	0.62	0.00	0.00	0.00	0.00	3.56
FRIO3	0.75	0.13	0.00	(0.08)	0.00	0.00	0.00	0.00	24.25
GOAU4	1.06	0.39	0.28	1.95	0.71	(1.32)	2.63	(1.79)	7.02
T1TW34	1.25	(0.05)	0.00	0.19	0.00	0.00	2.65	(2.28)	10.51
MTSA4	1.79	0.17	0.03	(26.68)	2.28	(2.36)	4.32	(4.28)	14.40
LEVE3	1.31	0.43	0.18	(1.69)	1.36	(1.48)	3.53	(2.42)	11.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in ITSA3F 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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