Usinas Siderrgicas Correlations
| USIM5 Preferred Stock | BRL 5.51 0.13 2.30% |
The current 90-days correlation between Usinas Siderrgicas and Companhia Siderrgica Nacional is 0.68 (i.e., Poor diversification). The correlation of Usinas Siderrgicas 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.
Usinas Siderrgicas Correlation With Market
Average diversification
The correlation between Usinas Siderrgicas de and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Usinas Siderrgicas de and DJI in the same portfolio, assuming nothing else is changed.
Usinas |
The ability to find closely correlated positions to Usinas Siderrgicas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Usinas Siderrgicas 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 Usinas Siderrgicas - 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 Usinas Siderrgicas de to buy it.
Moving together with Usinas Preferred Stock
| 0.92 | MBRF11 | Fundo De Investimento | PairCorr |
| 0.69 | RBED11 | Aesapar Fundo de | PairCorr |
| 0.75 | FIGS11 | Fundo de Investimento | PairCorr |
| 0.62 | HGBS11 | HEDGE Brasil Shopping | PairCorr |
Moving against Usinas Preferred Stock
| 0.86 | AALL34 | American Airlines | PairCorr |
| 0.81 | M1CB34 | Molson Coors Beverage | PairCorr |
| 0.79 | L2PL34 | LPL Financial Holdings | PairCorr |
| 0.76 | CSCO34 | Cisco Systems | PairCorr |
| 0.68 | SNEC34 | Sony Group | PairCorr |
| 0.59 | MRFG3 | Marfrig Global Foods | PairCorr |
| 0.51 | BOTZ39 | Global X Funds | PairCorr |
| 0.51 | D1FS34 | Discover Financial | PairCorr |
| 0.39 | A1MP34 | Ameriprise Financial | PairCorr |
| 0.33 | P1NR34 | Pentair plc | PairCorr |
Related Correlations Analysis
| 0.74 | 0.74 | 0.81 | 0.72 | CSNA3 | ||
| 0.74 | 0.99 | 0.77 | 0.16 | GGBR4 | ||
| 0.74 | 0.99 | 0.77 | 0.14 | GOAU4 | ||
| 0.81 | 0.77 | 0.77 | 0.48 | CMIG4 | ||
| 0.72 | 0.16 | 0.14 | 0.48 | BBDC4 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Usinas Preferred Stock performing well and Usinas Siderrgicas 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 Usinas Siderrgicas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CSNA3 | 2.61 | (0.29) | 0.00 | (0.61) | 0.00 | 5.11 | 19.31 | |||
| GGBR4 | 1.47 | (0.04) | 0.00 | (0.15) | 0.00 | 3.32 | 13.36 | |||
| GOAU4 | 1.52 | (0.06) | 0.00 | (0.17) | 0.00 | 2.94 | 14.19 | |||
| CMIG4 | 1.44 | (0.01) | (0.04) | (0.02) | 1.88 | 2.40 | 9.36 | |||
| BBDC4 | 1.37 | (0.30) | 0.00 | (3.03) | 0.00 | 2.48 | 6.25 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Usinas Siderrgicas 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.Did you try this?
Run Performance Analysis Now
Performance AnalysisCheck effects of mean-variance optimization against your current asset allocation |
| All Next | Launch Module |