Indus Gas Correlations

59Q Stock

EUR 0.05 0.01 18.58%

The current 90-days correlation between Indus Gas and SOLSTAD OFFSHORE NK is -0.04 (i.e., Good diversification). The correlation of Indus Gas 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.

Indus Gas Correlation With Market

Good diversification

The correlation between Indus Gas and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indus Gas and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Indus Stock

0.42	ICK	Industrial and Commercial Earnings Call This Week	Pair Corr
0.4	C6T	China Construction Bank Earnings Call This Week	Pair Corr
0.38	2RR	Alibaba Group Holding	Pair Corr
0.34	LBL	KAROON GAS AUST	Pair Corr
0.55	AG1	AUTO1 Group SE	Pair Corr
0.5	NST	STEULER FLIESENGRUPPE	Pair Corr
0.49	LL6	MTN GROUP	Pair Corr
0.44	IFX	Infineon Technologies	Pair Corr
0.42	MARA	MARUBENI CORP	Pair Corr
0.4	HFF	HARTFORD FIN SERV	Pair Corr
0.37	07M	CN MODERN DAIRY	Pair Corr
0.37	MLT	MICRONIC MYDATA	Pair Corr
0.37	KPN	Koninklijke KPN NV	Pair Corr
0.34	ALVE	ALLIANZ SE UNSPADR	Pair Corr
0.33	AV6	Avista	Pair Corr
0.33	OTP	OTP Bank Nyrt	Pair Corr
0.33	54M	Motorcar Parts	Pair Corr
0.32	APM	AD PEPPER MEDIA	Pair Corr
0.61	DEZ	Deutz AG Earnings Call Tomorrow	Pair Corr
0.58	KONN	Komercn banka as	Pair Corr
0.57	DHL	Deutsche Post AG	Pair Corr
0.54	7AA	APERAM REG	Pair Corr

Related Correlations Analysis

	AIL	CHK	SZL	NWC	NY7	AILA	E1V	FRI
AIL		0.18	-0.71	0.46	0.22	0.97	-0.73	-0.81	AIL
CHK	0.18		-0.47	0.58	0.65	0.22	-0.33	0.22	CHK
SZL	-0.71	-0.47		-0.51	-0.58	-0.71	0.88	0.41	SZL
NWC	0.46	0.58	-0.51		0.59	0.47	-0.33	-0.09	NWC
NY7	0.22	0.65	-0.58	0.59		0.24	-0.46	0.11	NY7
AILA	0.97	0.22	-0.71	0.47	0.24		-0.72	-0.8	AILA
E1V	-0.73	-0.33	0.88	-0.33	-0.46	-0.72		0.48	E1V
FRI	-0.81	0.22	0.41	-0.09	0.11	-0.8	0.48		FRI
	AIL	CHK	SZL	NWC	NY7	AILA	E1V	FRI

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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

AILA	+ 0.97	AIL
E1V	+ 0.88	SZL
NY7	+ 0.65	CHK
NY7	+ 0.59	NWC
NWC	+ 0.58	CHK
FRI	+ 0.48	E1V

High negative correlations

FRI	- 0.81	AIL
FRI	- 0.8	AILA
E1V	- 0.73	AIL
E1V	- 0.72	AILA
AILA	- 0.71	SZL
SZL	- 0.71	AIL

Risk-Adjusted Indicators

There is a big difference between Indus Stock performing well and Indus Gas 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 Indus Gas' 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
AIL	0.87	0.14	0.23	(0.80)	0.94	(0.97)	2.10	(2.02)	7.81
CHK	2.35	(0.02)	0.00	(0.15)	0.00	0.00	4.23	(4.52)	11.69
SZL	1.76	(0.15)	0.00	9.46	0.00	0.00	4.19	(3.03)	11.97
NWC	2.21	0.02	0.03	(0.02)	2.58	(2.43)	4.17	(4.00)	11.62
NY7	1.32	(0.11)	0.00	(0.60)	0.00	0.00	3.07	(3.43)	15.28
AILA	1.03	0.19	0.16	0.59	1.17	(1.30)	2.35	(2.41)	9.83
E1V	1.75	(0.09)	0.00	(0.46)	0.00	0.00	3.19	(3.57)	12.30
FRI	2.06	(0.30)	0.00	(1.98)	0.00	0.00	3.28	(3.82)	15.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in Indus Gas 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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