Agritech Correlations

AGL Stock

67.62 0.64 0.94%

The current 90-days correlation between Agritech and ITTEFAQ Iron Industries is 0.05 (i.e., Significant diversification). The correlation of Agritech 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Agritech Correlation With Market

Significant diversification

The correlation between Agritech and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Agritech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Agritech Stock

0.78	LOADS	Loads	Pair Corr
0.73	LUCK	Lucky Cement Split	Pair Corr
0.78	BAHL	Bank Al Habib	Pair Corr
0.63	EFUG	EFU General Insurance	Pair Corr
0.75	NBP	National Bank	Pair Corr
0.8	CENI	Century Insurance	Pair Corr
0.78	FHAM	First Habib Modaraba	Pair Corr
0.77	MCBIM	MCB Investment Manag	Pair Corr
0.7	AGIC	Askari General Insurance	Pair Corr
0.77	GCIL	Ghani Chemical Industries	Pair Corr
0.81	LCI	Lucky Core Ind	Pair Corr
0.69	UBL	United Bank	Pair Corr
0.8	SHFA	Shifa International	Pair Corr
0.65	PSYL	Pakistan Synthetics	Pair Corr

Moving against Agritech Stock

0.75	MARI	Mari Petroleum	Pair Corr
0.55	PSO	Pakistan State Oil	Pair Corr
0.45	THCCL	Thatta Cement	Pair Corr
0.38	FFL	Fauji Foods	Pair Corr
0.32	KAPCO	KOT Addu Power	Pair Corr
0.38	OGDC	Oil and Gas	Pair Corr

Related Correlations Analysis

	ITTEFAQ	786	AKGL	ASTL	DAAG	AGHA	AIRLINK	DSL
ITTEFAQ		0.39	0.39	0.43	0.29	0.49	0.41	0.26	ITTEFAQ
786	0.39		0.17	-0.2	-0.19	-0.18	-0.3	0.29	786
AKGL	0.39	0.17		0.21	0.11	0.05	0.18	0.06	AKGL
ASTL	0.43	-0.2	0.21		0.88	0.87	0.88	-0.48	ASTL
DAAG	0.29	-0.19	0.11	0.88		0.75	0.84	-0.58	DAAG
AGHA	0.49	-0.18	0.05	0.87	0.75		0.74	-0.23	AGHA
AIRLINK	0.41	-0.3	0.18	0.88	0.84	0.74		-0.39	AIRLINK
DSL	0.26	0.29	0.06	-0.48	-0.58	-0.23	-0.39		DSL
	ITTEFAQ	786	AKGL	ASTL	DAAG	AGHA	AIRLINK	DSL

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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

DAAG	+ 0.88	ASTL
AIRLINK	+ 0.88	ASTL
AGHA	+ 0.87	ASTL
AIRLINK	+ 0.84	DAAG
AGHA	+ 0.75	DAAG
AIRLINK	+ 0.74	AGHA

High negative correlations

DSL	- 0.58	DAAG
DSL	- 0.48	ASTL
DSL	- 0.39	AIRLINK
AIRLINK	- 0.3	786
DSL	- 0.23	AGHA
ASTL	- 0.2	786

Risk-Adjusted Indicators

There is a big difference between Agritech Stock performing well and Agritech 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 Agritech'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
ITTEFAQ	2.51	0.05	0.06	(0.21)	2.79	(3.28)	5.61	(5.06)	35.65
786	2.93	0.46	0.11	0.43	3.13	(3.48)	6.17	(5.50)	22.49
AKGL	3.08	0.42	0.06	6.95	4.18	(5.79)	10.36	(7.70)	34.56
ASTL	1.73	(0.13)	0.00	(0.80)	0.00	0.00	3.61	(3.41)	13.98
DAAG	3.32	(0.04)	0.03	(0.03)	3.61	(3.94)	10.00	(6.67)	18.85
AGHA	1.38	(0.33)	0.00	(8.88)	0.00	0.00	2.23	(2.94)	14.32
AIRLINK	1.89	0.03	0.04	0.01	2.67	(1.85)	3.72	(3.61)	16.98
DSL	1.70	0.09	0.08	0.21	1.81	(2.31)	3.80	(3.38)	17.61

Be your own money manager

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