RENT3F Correlations

RENT3F Stock

BRL 45.91 0.94 2.09%

The current 90-days correlation between RENT3F and Liberty Broadband is -0.12 (i.e., Good diversification). The correlation of RENT3F 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.

RENT3F Correlation With Market

Modest diversification

The correlation between RENT3F and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RENT3F and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to RENT3F could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RENT3F 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 RENT3F - 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 RENT3F to buy it.

Moving together with RENT3F Stock

0.64	GOGL35	Alphabet Earnings Call This Week	Pair Corr
0.66	GOGL34	Alphabet Earnings Call This Week	Pair Corr
0.76	P2CO34	Procore Technologies	Pair Corr
0.73	LEVE3	MAHLE Metal Leve	Pair Corr
0.68	RADL3	Raia Drogasil SA Split	Pair Corr

Moving against RENT3F Stock

0.74	OSXB3	OSX Brasil SA	Pair Corr
0.63	BABA34	Alibaba Group Holding	Pair Corr
0.57	MAPT4	Cemepe Investimentos	Pair Corr
0.52	ESTR4	Manufatura de Brinquedos	Pair Corr
0.47	MSFT34	Microsoft Earnings Call Today	Pair Corr
0.47	B1NT34	BIONTECH SE DRN	Pair Corr

Related Correlations Analysis

	B1RF34	W1MC34	CLOV34	VERZ34	LEVE3	Z1OM34	LBRD34
B1RF34		0.16	0.46	0.29	-0.28	0.42	0.63	B1RF34
W1MC34	0.16		-0.3	0.35	0.54	0.35	-0.16	W1MC34
CLOV34	0.46	-0.3		-0.4	-0.75	0.12	0.8	CLOV34
VERZ34	0.29	0.35	-0.4		0.46	0.48	-0.13	VERZ34
LEVE3	-0.28	0.54	-0.75	0.46		0.23	-0.79	LEVE3
Z1OM34	0.42	0.35	0.12	0.48	0.23		0.16	Z1OM34
LBRD34	0.63	-0.16	0.8	-0.13	-0.79	0.16		LBRD34
	B1RF34	W1MC34	CLOV34	VERZ34	LEVE3	Z1OM34	LBRD34

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

LBRD34	+ 0.8	CLOV34
LBRD34	+ 0.63	B1RF34
LEVE3	+ 0.54	W1MC34
Z1OM34	+ 0.48	VERZ34
CLOV34	+ 0.46	B1RF34
LEVE3	+ 0.46	VERZ34

High negative correlations

LBRD34	- 0.79	LEVE3
LEVE3	- 0.75	CLOV34
VERZ34	- 0.4	CLOV34
CLOV34	- 0.3	W1MC34
LEVE3	- 0.28	B1RF34
LBRD34	- 0.16	W1MC34

Risk-Adjusted Indicators

There is a big difference between RENT3F Stock performing well and RENT3F 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 RENT3F'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
B1RF34	0.80	(0.17)	0.00	0.45	0.00	0.00	1.70	(3.71)	12.95
W1MC34	0.98	0.09	0.00	(0.17)	1.80	(0.90)	1.86	(2.74)	8.25
CLOV34	3.33	(0.10)	0.00	(0.09)	0.00	0.00	8.01	(7.04)	37.01
VERZ34	0.98	(0.01)	0.00	0.10	0.00	0.00	2.21	(2.29)	6.52
LEVE3	1.35	0.41	0.18	(1.13)	1.39	(1.51)	3.53	(2.42)	11.76
Z1OM34	1.86	0.17	0.07	0.33	1.95	(2.27)	4.27	(3.73)	15.87
LBRD34	1.61	(0.41)	0.00	(3.05)	0.00	0.00	3.09	(4.27)	9.92

Be your own money manager

Our tools can tell you how much better you can do entering a position in RENT3F 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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