Risk & Performance Panel
LM
-3.32%
Return Client
-5.43%
Return IPS
-1.24%
Allocation
3.35%
Selection/Interaction
IPS
Portfolio Model
Weight Return Contribution Effects
Client Asset class Weight
client
Weight
IPS
Under/over Return client Return IPS Contribution
client
Contribution
IPS
Allocation Selection/interaction
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TERA
RISK REPORT -
Return Tunnel —
Expected x Realized Return
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Risk Return —
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Wealth Evolution —
Official x CPI Simulation
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Summary
Official
CPI Simulation
Risk Metrics —
Client vs 30/70 Portfolio
Return
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Sharpe Ratio
Risk-adjusted return (12 months)
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A Sharpe ratio above 1.0 indicates a good return for the risk taken. Below zero, the return was lower than the risk-free asset (Cash).
Beta
Correlation with the S&P 500
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Beta indicates how much the portfolio moves relative to the reference market. There is no literal S&P 500 column in the database — we use "US Large Cap" as a proxy (the same criterion already used in Factor Analysis).
Volatility
Last 12 months
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ClientPortfolio 30/70
Drawdown
Maximum drawdown from peak
ClientPortfolio 30/70
Performance Attribution —
Client vs IPS
Asset Class Adjusted Value (USD) Weight Perf. Contribution (USD) Contribution IPS Alpha
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Total
Perf. Contribution (USD) by Asset Class
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Wealth Evolution
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Summary
Official
CPI Simulation
Expected x Realized Return
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Return
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Sharpe Ratio
Risk-adjusted return (12 months)
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A Sharpe ratio above 1.0 indicates a good return for the risk taken. Below zero, the return was lower than the risk-free asset (Cash).
Beta
Correlation with the S&P 500
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Beta indicates how much the portfolio moves relative to the reference market. There is no literal S&P 500 column in the database — we use "US Large Cap" as a proxy (the same criterion already used in Factor Analysis).
Volatility
Last 12 months
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ClientPortfolio 30/70
Drawdown
Maximum drawdown from peak
ClientPortfolio 30/70
Performance Calliandra — click a row to open the level below
Category Adjusted Value (USD) Return (YTD) Alpha Benchmark Benchmark Name
Monthly Annual
Product Position Weight Monthly
Return
Monthly
Benchmark
Monthly
Alpha
Annual
Return
Annual
Benchmark
Annual
Alpha
Product Monthly
PL
Monthly
Contribution
Annual
PL
Annual
Contribution
Monthly Financial Return (USD)
Top 5 Returns
Security Asset Class Region Monthly Return
Bottom 5 Returns
Security Asset Class Region Monthly Return
Overall
By Fund
Funds
FundPVaR_5
PVaR_5
Product Class
PVaR_5 Evolution
ProductPVaR_5
Total
Overall
By Fund
Funds
FundVaR
VaR
Asset Class
VaR Evolution
Asset ClassVaR
Total
Risk Metrics
VaR (95%)
CVaR (95%)
Adjusted Value
VaR Contribution by Asset Class
Asset Class Breakdown — International
Asset ClassAdjusted ValueVaRVaR %CVaRCVaR %
Overall
By Client
Region
Asset Class
AssetAdjusted Value (USD)Percentage
Total
Region
Asset Class
AssetAdjusted Value (USD)Percentage
Total
CustodianAdjusted Value (USD)Percentage
Total
Issuer / ManagerAdjusted Value (USD)Percentage
Total
Benchmarks ▾
Clients ▾
TERA Funds ▾
Annualized volatility by Asset Class
Total Volatility Evolution
Lâmina Mensal —
Política de Investimento
Rentabilidade
Rentabilidade Mensal
Evolução da Cota
Cota
CDI
Consistência
DrawdownAtual
Cota e Patrimônio Líquido
VolatilidadeAtual
Este material foi elaborado pela Tera Investimentos Ltda. (“TERA Capital”) e tem caráter exclusivamente informativo, destinado a dar transparência à gestão. Não constitui oferta, solicitação ou recomendação de compra ou venda de cotas de fundos de investimento ou quaisquer valores mobiliários. A TERA Capital não comercializa nem distribui cotas de fundos ou outros ativos financeiros.
Fundos de investimento não contam com garantia do administrador, gestor, de qualquer mecanismo de seguro ou do Fundo Garantidor de Créditos – FGC. A rentabilidade divulgada já é líquida das taxas de administração, performance e demais custos do fundo, mas não é líquida de impostos e, se houver, de taxa de saída. Rentabilidade passada não representa garantia de resultados futuros. Para avaliação de performance, recomenda-se análise mínima de 12 (doze) meses.
Fundos podem utilizar derivativos como parte da política de investimento, o que pode acarretar perdas superiores ao capital aplicado e a obrigação de aportes adicionais. Também podem investir no exterior e concentrar investimentos em poucos emissores, assumindo riscos adicionais. Não há garantia de que fundos multimercados terão o tratamento tributário de longo prazo.
A remuneração dos prestadores de serviços dos fundos se dá por meio de taxa global, cujo sumário pode ser consultado através do seguinte link: https://www.teracapital.com.br/documentos.
Recomenda-se a leitura atenta da lâmina de informações essenciais (se houver), do regulamento e do formulário de informações complementares antes de investir. Este material é para uso exclusivo do destinatário, não podendo ser reproduzido ou distribuído sem autorização prévia e por escrito da TERA Capital.
Características
TERA CAPITAL
contato@teracapital.com.br
11 3298-0100
Asset with maturity longer than the fund's redemption term Pending term registration
Funds — % within term (click a fund to filter the table)
Asset Position
FundProductPositionFund LiquidityAsset Liquidity
Total
Percentage of NAV in Cash (dotted line = 2% control)
Relatório Mensal de Exposição a Risco
Data-base: —
Controle de Liquidez — % do fundo dentro do prazo de liquidez
Carregando…
Controle Value at Risk — Stress vs. limite cadastrado
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Factors ▾
to
Multi-Factor Regression — Total Portfolio
Color of Beta: intensity relative to the largest |Beta| in that column/factor (orange = positive, blue = negative). Color of t: intensity relative to |t|=4 (stronger = more reliable).
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Simple Correlation (screening)
-1 (negative)0+1 (positive)
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Methodology
Multifactor regression (OLS) of each client's total portfolio monthly return against the macro factors selected in "Factors ▾" (default: Equity, Rates, Gold, Commodity), plus a simple screening correlation (does not isolate the effect of each factor — see regression for a net reading). Available factors — Supabase source aa_benchmarks_extended_price: there is no literal column for the S&P 500, oil, or interest-rate yield in this base, so some factors are proxies (e.g. Equity = us_large, Rates = us_treasury, Commodity = aggregate_commodity as a proxy for oil/energy). Client returns via tera_clients_data_monthly (monthly TWR, USD, Total region). Samples with fewer than 24 months have low statistical confidence — flagged below. Selecting too many factors relative to the available history (few years, monthly) increases the risk of overfitting — the t-stats help assess this. The "Adj. R²" column is the adjusted R² (penalizes the inclusion of more factors, avoiding the impression of a better fit just from adding variables) — not the plain R². The filter "Period" restricts all calculations on this tab (regression, correlation and the Return History chart) to the selected window of months.
Returns Benchmark Tactical Alpha Total
Asset Class Benchmark
Return
Building Block
Return
Weight Return
Contribution
Tactical
Weight
Tactical
Contribution
Tactical
Alpha
Selection
Alpha
Total
Alpha
Total
Return
Total AUM (USD)
Active Share
Largest Deviation
Asset Classes > 5%
vs IPS
vs Portfolio Model
Region Asset Class Adjusted Value Weight
Portfolio
Weight
IPS
Diff. Status
Total 100.00% 100.00% 0.00%
67,00%
Minimum Receivables
% Receivables
Subordination Index
Concentration by Group
Contribution / Redemption Simulation — local calculation on the selected date; does not alter the data
% Receivables
Subordination Index
Concentration
-1.0
+1.0 Correlation (Pearson) of monthly TWR (USD) returns between IPS asset classes, since Jan/2025. The diagonal and pairs with less than 6 months of overlap are left blank.
ProductStrategy DescriptionBenchmarkRegionRisk BudgetInvestable AssetsReturn ObjectivePerformance AttributionMonitors Styles?Risk FactorsConcentration LimitExp. Vol.Risk MetricPeer GroupTarget AudienceMonitors Correlation?
ProductClassAddepar NameQuotation (days)Pricing TypeSettlement (days)Settlement Type
FundGateNotice (days)Redemption DeadlineLock-up (qtr.)Gate FrequencyComments
Product ClassCategory (Rule)Subcategory (Rule)Note
FundCNPJCategorySubcategoryDescriptionMin. LimitMax. LimitReferenceRegulation DateActive?
Fund (Lote)Client
DateTitleFundAreaStatusProgressClassificationReported by