Indstrias Romi Correlations

ROMI3 Stock

BRL 8.12 0.09 1.10%

The current 90-days correlation between Indstrias Romi SA and Taurus Armas SA is 0.22 (i.e., Modest diversification). The correlation of Indstrias Romi 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.

Indstrias Romi Correlation With Market

Very weak diversification

The correlation between Indstrias Romi SA and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indstrias Romi SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Indstrias Stock

0.81	B1SA34	Banco Santander Chile	Pair Corr
0.84	BBDC3	Banco Bradesco SA	Pair Corr
0.74	EUCA4	Eucatex SA Indstria	Pair Corr
0.76	MUTC34	Micron Technology	Pair Corr
0.75	OPCT3F	OPCT3F	Pair Corr
0.73	BAZA3	Banco da Amaznia	Pair Corr
0.79	BRSR6	Banco do Estado	Pair Corr
0.69	CMIG4	Companhia Energtica	Pair Corr
0.77	ABCB4	Banco ABC Brasil	Pair Corr
0.62	RADL3	Raia Drogasil SA Split	Pair Corr
0.7	BBAS3	Banco do Brasil	Pair Corr
0.73	LUPA3	Lupatech SA	Pair Corr

Moving against Indstrias Stock

0.82	BERK34	Berkshire Hathaway	Pair Corr
0.67	AAPL34	Apple Inc	Pair Corr
0.58	MSFT34	Microsoft	Pair Corr
0.43	GSHP3F	GSHP3F	Pair Corr
0.39	TF623	TF623	Pair Corr

Related Correlations Analysis

	TASA3	TASA4	MTSA4	PTBL3	AMBP3	AERI3	ETER3
TASA3		0.97	0.57	0.32	-0.04	-0.59	-0.12	TASA3
TASA4	0.97		0.66	0.32	-0.05	-0.7	-0.05	TASA4
MTSA4	0.57	0.66		-0.01	-0.44	-0.78	0.1	MTSA4
PTBL3	0.32	0.32	-0.01		0.39	0.07	0.36	PTBL3
AMBP3	-0.04	-0.05	-0.44	0.39		0.21	0.15	AMBP3
AERI3	-0.59	-0.7	-0.78	0.07	0.21		0.03	AERI3
ETER3	-0.12	-0.05	0.1	0.36	0.15	0.03		ETER3
	TASA3	TASA4	MTSA4	PTBL3	AMBP3	AERI3	ETER3

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

TASA4	+ 0.97	TASA3
MTSA4	+ 0.66	TASA4
MTSA4	+ 0.57	TASA3
AMBP3	+ 0.39	PTBL3
ETER3	+ 0.36	PTBL3
PTBL3	+ 0.32	TASA3

High negative correlations

AERI3	- 0.78	MTSA4
AERI3	- 0.7	TASA4
AERI3	- 0.59	TASA3
AMBP3	- 0.44	MTSA4
ETER3	- 0.12	TASA3
ETER3	- 0.05	TASA4

Risk-Adjusted Indicators

There is a big difference between Indstrias Stock performing well and Indstrias Romi 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 Indstrias Romi'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
TASA3	1.53	0.20	0.08	(0.38)	1.61	(1.82)	2.92	(3.11)	10.26
TASA4	2.01	0.35	0.14	(1.32)	1.92	(2.35)	5.28	(3.64)	11.48
MTSA4	1.63	0.67	0.29	(5.29)	1.64	(2.34)	4.62	(2.26)	14.40
PTBL3	1.61	(0.01)	(0.01)	0.01	2.11	(1.79)	2.78	(3.80)	11.16
AMBP3	3.35	(0.11)	0.00	(0.05)	0.00	0.00	10.34	(6.25)	37.89
AERI3	1.25	(0.58)	0.00	(3.94)	0.00	0.00	1.57	(3.61)	9.63
ETER3	1.01	(0.02)	0.00	(0.09)	0.00	0.00	1.95	(2.18)	13.60

Be your own money manager

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