CXFI Caixa Correlations

CXRI11 Fund

BRL 62.81 1.71 2.80%

The current 90-days correlation between CXFI Caixa and Energisa SA is -0.05 (i.e., Good diversification). The correlation of CXFI Caixa 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.

CXFI Caixa Correlation With Market

Significant diversification

The correlation between CXFI Caixa and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CXFI Caixa and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	ENGI11	H1UM34	BTLG11	PLPL3	A2RE34	HBTS5	BVAR11	PGCO34	S1YM34	E1RI34
ENGI11		-0.73	0.4	0.72	0.56	-0.07	0.49	-0.37	0.29	0.3	ENGI11
H1UM34	-0.73		-0.37	-0.74	-0.78	-0.09	-0.25	0.59	-0.4	0.12	H1UM34
BTLG11	0.4	-0.37		0.21	0.16	-0.03	0.04	-0.1	-0.29	0.28	BTLG11
PLPL3	0.72	-0.74	0.21		0.61	0.17	0.3	-0.37	0.55	0.13	PLPL3
A2RE34	0.56	-0.78	0.16	0.61		-0.06	0.03	-0.67	0.48	-0.28	A2RE34
HBTS5	-0.07	-0.09	-0.03	0.17	-0.06		0.05	0.11	0.19	0.09	HBTS5
BVAR11	0.49	-0.25	0.04	0.3	0.03	0.05		-0.15	0.09	0.15	BVAR11
PGCO34	-0.37	0.59	-0.1	-0.37	-0.67	0.11	-0.15		-0.39	0.46	PGCO34
S1YM34	0.29	-0.4	-0.29	0.55	0.48	0.19	0.09	-0.39		-0.45	S1YM34
E1RI34	0.3	0.12	0.28	0.13	-0.28	0.09	0.15	0.46	-0.45		E1RI34
	ENGI11	H1UM34	BTLG11	PLPL3	A2RE34	HBTS5	BVAR11	PGCO34	S1YM34	E1RI34

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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

PLPL3	+ 0.72	ENGI11
A2RE34	+ 0.61	PLPL3
PGCO34	+ 0.59	H1UM34
A2RE34	+ 0.56	ENGI11
S1YM34	+ 0.55	PLPL3
BVAR11	+ 0.49	ENGI11

High negative correlations

A2RE34	- 0.78	H1UM34
PLPL3	- 0.74	H1UM34
H1UM34	- 0.73	ENGI11
PGCO34	- 0.67	A2RE34
E1RI34	- 0.45	S1YM34
S1YM34	- 0.4	H1UM34

Risk-Adjusted Indicators

There is a big difference between CXFI Fund performing well and CXFI Caixa 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 CXFI Caixa'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
ENGI11	1.17	0.14	(0.02)	(0.47)	1.08	(1.50)	3.28	(1.86)	6.82
H1UM34	1.69	(0.68)	0.00	(0.49)	0.00	0.00	2.96	(5.29)	12.07
BTLG11	0.34	0.04	(0.22)	(2.19)	0.32	(0.43)	0.97	(0.67)	2.85
PLPL3	2.14	0.23	0.04	6.55	2.25	(2.45)	5.09	(4.03)	11.86
A2RE34	1.43	0.24	0.10	0.56	1.46	(1.57)	3.28	(2.79)	8.02
HBTS5	1.32	0.07	(0.01)	(0.08)	2.94	(4.41)	5.96	(3.33)	27.62
BVAR11	0.05	0.00	0.00	0.00	0.00	0.00	0.26	0.00	1.56
PGCO34	1.29	(0.21)	0.00	(0.65)	0.00	0.00	2.38	(2.63)	6.77
S1YM34	0.41	(0.11)	0.00	(0.57)	0.00	0.00	0.00	0.00	13.64
E1RI34	0.91	(0.15)	0.00	(0.22)	0.00	0.00	2.64	(2.11)	18.51

Be your own money manager

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