DEVANT PROPERTIES Correlations

DPRO11 Fund

6.00 0.05 0.84%

The current 90-days correlation between DEVANT PROPERTIES FUNDO and Energisa SA is -0.12 (i.e., Good diversification). The correlation of DEVANT PROPERTIES 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.

DEVANT PROPERTIES Correlation With Market

Good diversification

The correlation between DEVANT PROPERTIES FUNDO and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DEVANT PROPERTIES FUNDO and DJI in the same portfolio, assuming nothing else is changed.

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

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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 DEVANT Fund performing well and DEVANT PROPERTIES 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 DEVANT PROPERTIES'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

DEVANT PROPERTIES Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with DEVANT PROPERTIES fund to make a market-neutral strategy. Peer analysis of DEVANT PROPERTIES could also be used in its relative valuation, which is a method of valuing DEVANT PROPERTIES by comparing valuation metrics with similar companies.

Energisa SA Humana Inc BTG Pactual Logstica Plano Plano Desenvolvimento Ares Management Companhia Habitasul de FDO INV IMOB The Procter Gamble Gen Digital Telefonaktiebolaget LM Ericsson American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC