Patria Investments Correlations

P2AX34 Stock

37.92 0.40 1.07%

The current 90-days correlation between Patria Investments and Microchip Technology Incorporated is -0.06 (i.e., Good diversification). The correlation of Patria Investments 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.

Patria Investments Correlation With Market

Significant diversification

The correlation between Patria Investments Limited and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patria Investments Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Patria Stock

0.91	TSMC34	Taiwan Semiconductor	Pair Corr
0.77	MSFT34	Microsoft	Pair Corr
0.67	GOGL35	Alphabet	Pair Corr
0.71	GOGL34	Alphabet	Pair Corr
0.84	AMZO34	Amazon Inc	Pair Corr
0.69	H1SB34	HSBC Holdings plc	Pair Corr
0.85	GEOO34	General Electric	Pair Corr
0.64	TIMS3	TIM SA	Pair Corr
0.79	SAPR11	Companhia de Saneamento	Pair Corr
0.9	PRIO3	Petro Rio SA	Pair Corr
0.85	PSSA3	Porto Seguro SA	Pair Corr
0.83	F1NI34	Fidelity National	Pair Corr
0.79	I1RM34	Iron Mountain	Pair Corr
0.7	CGRA3	Grazziotin SA	Pair Corr
0.9	ALPK3	Allpark Empreendimentos	Pair Corr
0.65	ITUB4	Ita Unibanco Holding	Pair Corr
0.73	ASAI3	Sendas Distribuidora	Pair Corr
0.88	D1DG34	Datadog,	Pair Corr
0.61	LBRD34	Liberty Broadband	Pair Corr
0.62	MRFG3	Marfrig Global Foods	Pair Corr
0.85	I1RP34	Trane Technologies plc	Pair Corr
0.86	S1YF34	Synchrony Financial	Pair Corr
0.7	KEPL3	Kepler Weber SA	Pair Corr
0.79	S1SL34	Skyworks Solutions	Pair Corr
0.65	AMBP3	Ambipar Participaes	Pair Corr
0.8	K1BF34	KB Financial Group	Pair Corr
0.89	A1MD34	Advanced Micro Devices	Pair Corr
0.74	BPAC11	Banco BTG Pactual	Pair Corr

Moving against Patria Stock

0.83	BERK34	Berkshire Hathaway	Pair Corr
0.58	PCAR3	Companhia Brasileira	Pair Corr
0.54	RCSL4	Recrusul SA	Pair Corr

Related Correlations Analysis

	M1CH34	RYTT34	Z1BR34	J1EF34	P1SA34	R1JF34
M1CH34		0.72	0.61	0.52	0.53	-0.07	M1CH34
RYTT34	0.72		0.58	0.47	0.31	0.1	RYTT34
Z1BR34	0.61	0.58		0.6	0.49	0.6	Z1BR34
J1EF34	0.52	0.47	0.6		0.33	0.55	J1EF34
P1SA34	0.53	0.31	0.49	0.33		0.11	P1SA34
R1JF34	-0.07	0.1	0.6	0.55	0.11		R1JF34
	M1CH34	RYTT34	Z1BR34	J1EF34	P1SA34	R1JF34

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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

RYTT34	+ 0.72	M1CH34
Z1BR34	+ 0.61	M1CH34
J1EF34	+ 0.6	Z1BR34
R1JF34	+ 0.6	Z1BR34
Z1BR34	+ 0.58	RYTT34
R1JF34	+ 0.55	J1EF34

High negative correlations

R1JF34

- 0.07

M1CH34

Risk-Adjusted Indicators

There is a big difference between Patria Stock performing well and Patria Investments 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 Patria Investments' 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
M1CH34	2.68	0.40	0.06	0.82	3.55	(4.38)	9.74	(5.37)	27.60
RYTT34	1.41	0.15	0.04	(5.13)	2.88	(1.38)	3.94	(2.33)	17.28
Z1BR34	1.06	0.07	0.00	(0.04)	0.00	0.00	2.57	(0.91)	23.09
J1EF34	2.20	(0.09)	0.00	(0.53)	0.00	0.00	5.57	(7.50)	19.28
P1SA34	0.65	(0.04)	0.00	0.18	0.00	0.00	1.91	(2.20)	8.06
R1JF34	0.70	(0.15)	0.00	0.17	0.00	0.00	0.00	0.00	23.63

Patria Investments 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 Patria Investments stock to make a market-neutral strategy. Peer analysis of Patria Investments could also be used in its relative valuation, which is a method of valuing Patria Investments by comparing valuation metrics with similar companies.

Microchip Technology Incorporated Raytheon Technologies Zebra Technologies Jefferies Financial Group Public Storage Raymond James Financial, American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot

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