Localiza Rent Correlations

RENT3 Stock

BRL 50.45 0.34 0.67%

The current 90-days correlation between Localiza Rent a and Randon SA Implementos is 0.48 (i.e., Very weak diversification). The correlation of Localiza Rent 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.

Localiza Rent Correlation With Market

Very weak diversification

The correlation between Localiza Rent a and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Localiza Rent a and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Localiza Stock

0.79	BBDC3	Banco Bradesco SA	Pair Corr
0.75	JNJB34	Johnson Johnson	Pair Corr
0.69	EUCA4	Eucatex SA Indstria	Pair Corr
0.78	CATP34	Caterpillar	Pair Corr
0.73	ALPA3	Alpargatas SA	Pair Corr
0.61	OPCT3F	OPCT3F	Pair Corr
0.82	BAZA3	Banco da Amaznia	Pair Corr
0.66	BRSR6	Banco do Estado	Pair Corr
0.79	CMIG4	Companhia Energtica	Pair Corr
0.66	MWET4	Wetzel SA	Pair Corr
0.78	HAGA4	HAGA SA Indstria	Pair Corr
0.82	ABCB4	Banco ABC Brasil	Pair Corr
0.68	JOPA3	JOSAPAR Joaquim Oliveira	Pair Corr
0.72	RADL3	Raia Drogasil SA Earnings Call This Week	Pair Corr
0.88	BBAS3	Banco do Brasil	Pair Corr

Moving against Localiza Stock

0.8	MSFT34	Microsoft	Pair Corr
0.74	AMZO34	Amazon Inc	Pair Corr
0.54	BERK34	Berkshire Hathaway	Pair Corr
0.45	GOGL35	Alphabet	Pair Corr
0.35	BABA34	Alibaba Group Holding	Pair Corr
0.41	GSHP3F	GSHP3F	Pair Corr
0.36	TF623	TF623	Pair Corr

Related Correlations Analysis

	RAPT4	RAPT3	EUCA3	EUCA4	OPCT3	ARML3	MTSA4
RAPT4		0.98	0.33	0.5	0.52	0.56	0.33	RAPT4
RAPT3	0.98		0.33	0.51	0.52	0.55	0.34	RAPT3
EUCA3	0.33	0.33		0.83	0.75	0.8	0.85	EUCA3
EUCA4	0.5	0.51	0.83		0.95	0.81	0.85	EUCA4
OPCT3	0.52	0.52	0.75	0.95		0.71	0.76	OPCT3
ARML3	0.56	0.55	0.8	0.81	0.71		0.89	ARML3
MTSA4	0.33	0.34	0.85	0.85	0.76	0.89		MTSA4
	RAPT4	RAPT3	EUCA3	EUCA4	OPCT3	ARML3	MTSA4

Risk-Adjusted Indicators

There is a big difference between Localiza Stock performing well and Localiza Rent 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 Localiza Rent'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
RAPT4	1.90	0.19	0.03	1.04	2.69	(1.92)	3.60	(4.02)	13.30
RAPT3	1.81	0.20	0.03	(0.93)	2.21	(1.89)	3.16	(2.78)	12.35
EUCA3	2.10	0.30	0.04	(1.02)	2.40	(3.03)	5.41	(5.56)	13.03
EUCA4	1.88	0.43	0.14	5.80	1.92	(2.20)	4.58	(3.65)	13.34
OPCT3	1.19	0.32	0.13	(1.70)	1.12	(1.32)	2.58	(2.01)	8.00
ARML3	2.14	0.65	0.21	1.62	2.17	(2.52)	6.19	(4.10)	15.17
MTSA4	1.69	0.65	0.23	(3.43)	1.77	(2.43)	4.62	(2.48)	14.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Localiza Rent 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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Localiza Rent Corporate Management

Elected by the shareholders, the Localiza Rent's board of directors comprises two types of representatives: Localiza Rent inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Localiza. The board's role is to monitor Localiza Rent's management team and ensure that shareholders' interests are well served. Localiza Rent's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Localiza Rent's outside directors are responsible for providing unbiased perspectives on the board's policies.

Suzana Oliveira	Executive Officer	Profile
Pedro Bueno	Independent Director	Profile
Rodrigo Sousa	Investor CFO	Profile
Andre Petenussi	Executive Officer	Profile
Elvio Neto	Executive Officer	Profile

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