Kinea Indices Correlations

KNIP11 Fund

BRL 90.82 0.22 0.24%

The current 90-days correlation between Kinea Indices Precos and BTG Pactual Logstica is 0.17 (i.e., Average diversification). The correlation of Kinea Indices 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.

Kinea Indices Correlation With Market

Good diversification

The correlation between Kinea Indices Precos and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinea Indices Precos and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34	ATMP3	BEWZ39	B1TI34	SUZB3
BTLG11		-0.79	0.81	-0.17	-0.81	-0.38	0.09	-0.77	0.25	-0.53	BTLG11
PLPL3	-0.79		-0.83	0.15	0.79	0.17	-0.15	0.75	-0.42	0.44	PLPL3
HBTS5	0.81	-0.83		-0.1	-0.77	-0.39	0.14	-0.79	0.45	-0.6	HBTS5
PGCO34	-0.17	0.15	-0.1		0.37	0.31	-0.46	0.02	0.65	0.27	PGCO34
E1RI34	-0.81	0.79	-0.77	0.37		0.54	-0.45	0.81	-0.13	0.74	E1RI34
C1AB34	-0.38	0.17	-0.39	0.31	0.54		-0.56	0.31	0.27	0.75	C1AB34
ATMP3	0.09	-0.15	0.14	-0.46	-0.45	-0.56		-0.18	-0.31	-0.58	ATMP3
BEWZ39	-0.77	0.75	-0.79	0.02	0.81	0.31	-0.18		-0.53	0.65	BEWZ39
B1TI34	0.25	-0.42	0.45	0.65	-0.13	0.27	-0.31	-0.53		0.0	B1TI34
SUZB3	-0.53	0.44	-0.6	0.27	0.74	0.75	-0.58	0.65	0.0		SUZB3
	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34	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	+ 0.81	BTLG11
BEWZ39	+ 0.81	E1RI34
E1RI34	+ 0.79	PLPL3
BEWZ39	+ 0.75	PLPL3
SUZB3	+ 0.75	C1AB34
SUZB3	+ 0.74	E1RI34

High negative correlations

HBTS5	- 0.83	PLPL3
E1RI34	- 0.81	BTLG11
BEWZ39	- 0.79	HBTS5
PLPL3	- 0.79	BTLG11
E1RI34	- 0.77	HBTS5
BEWZ39	- 0.77	BTLG11

Risk-Adjusted Indicators

There is a big difference between Kinea Fund performing well and Kinea Indices 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 Kinea Indices' 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
BTLG11	0.52	(0.09)	0.00	(1.19)	0.00	0.00	0.98	(1.29)	4.73
PLPL3	1.74	0.09	0.00	0.43	1.86	(1.99)	3.98	(3.23)	8.69
HBTS5	1.72	(0.20)	0.00	0.36	0.00	0.00	5.18	(6.25)	20.67
PGCO34	1.07	0.18	0.03	(0.75)	1.09	(1.20)	2.28	(1.88)	7.52
E1RI34	1.24	0.27	0.10	(4.47)	0.87	(2.11)	3.48	(2.09)	16.05
C1AB34	1.40	0.24	0.09	0.41	1.29	(2.43)	4.35	(2.60)	14.25
ATMP3	2.18	0.07	0.00	0.02	0.00	0.00	6.38	(5.07)	21.44
BEWZ39	0.94	0.01	(0.08)	0.67	1.26	(1.00)	2.06	(2.07)	8.19
B1TI34	1.02	0.18	0.03	(1.09)	1.08	(1.22)	2.42	(1.94)	6.07
SUZB3	0.91	0.12	(0.01)	(1.26)	0.91	(1.05)	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 Kinea Indices 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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