Axita Cotton Correlations

AXITA Stock

11.31 0.20 1.74%

The current 90-days correlation between Axita Cotton Limited and Kingfa Science Technology is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Axita Cotton moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axita Cotton Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Axita Cotton Correlation With Market

Significant diversification

The correlation between Axita Cotton Limited and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axita Cotton Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Axita Stock

0.79	CCCL	Consolidated Construction	Pair Corr
0.87	BIOFILCHEM	Biofil Chemicals Pha	Pair Corr

Moving against Axita Stock

0.89	IITL	Industrial Investment	Pair Corr
0.86	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.7	SBIN	State Bank	Pair Corr
0.7	LLOYDSME	LLOYDS METALS AND	Pair Corr
0.69	GILLETTE	Gillette India	Pair Corr
0.69	360ONE	360 ONE WAM	Pair Corr
0.67	NAM-INDIA	Nippon Life India	Pair Corr
0.65	KEC	KEC International	Pair Corr
0.62	WELCORP	Welspun Corp Limited	Pair Corr
0.61	AGI	AGI Greenpac Limited	Pair Corr
0.6	COSMOFIRST	COSMO FIRST LIMITED	Pair Corr
0.57	STEELCAS	Steelcast Limited	Pair Corr
0.56	BAJAJHCARE	Bajaj Healthcare	Pair Corr
0.5	CAPACITE	Capacite Infraprojects	Pair Corr
0.36	AGARIND	Agarwal Industrial	Pair Corr
0.93	GRWRHITECH	Garware Hi Tech	Pair Corr
0.87	FORTIS	Fortis Healthcare	Pair Corr
0.83	RAINBOW	Rainbow Childrens	Pair Corr
0.82	INDHOTEL	Indian Hotels	Pair Corr
0.78	JSWHL	JSW Holdings Limited	Pair Corr
0.77	SUMMITSEC	Summit Securities	Pair Corr
0.75	PAGEIND	Page Industries	Pair Corr
0.67	HDFCBANK	HDFC Bank Limited	Pair Corr
0.59	DELTAMAGNT	Delta Manufacturing	Pair Corr
0.55	STYRENIX	Styrenix Performance	Pair Corr
0.53	ASALCBR	Associated Alcohols	Pair Corr
0.41	THOMASCOTT	Thomas Scott Limited	Pair Corr
0.36	LANDMARK	Landmark Cars Limited	Pair Corr
0.36	LT	Larsen Toubro Limited	Pair Corr
0.34	HYBRIDFIN	Hybrid Financial Services	Pair Corr

Related Correlations Analysis

	RELIANCE	HDFCBANK	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND
RELIANCE		-0.33	0.46	0.94	0.7	-0.4	-0.23	0.57	-0.34	0.18	RELIANCE
HDFCBANK	-0.33		0.1	-0.39	-0.1	0.66	0.77	-0.14	-0.11	-0.5	HDFCBANK
KINGFA	0.46	0.1		0.6	0.74	0.39	0.4	0.59	0.0	0.23	KINGFA
RICOAUTO	0.94	-0.39	0.6		0.8	-0.32	-0.17	0.66	-0.14	0.32	RICOAUTO
GATECHDVR	0.7	-0.1	0.74	0.8		0.03	0.11	0.57	-0.26	0.17	GATECHDVR
COSMOFIRST	-0.4	0.66	0.39	-0.32	0.03		0.74	0.02	0.05	-0.16	COSMOFIRST
DELTAMAGNT	-0.23	0.77	0.4	-0.17	0.11	0.74		0.02	0.2	-0.14	DELTAMAGNT
TBZ	0.57	-0.14	0.59	0.66	0.57	0.02	0.02		0.12	0.17	TBZ
PARAGMILK	-0.34	-0.11	0.0	-0.14	-0.26	0.05	0.2	0.12		0.35	PARAGMILK
HEUBACHIND	0.18	-0.5	0.23	0.32	0.17	-0.16	-0.14	0.17	0.35		HEUBACHIND
	RELIANCE	HDFCBANK	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND

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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

RICOAUTO	+ 0.94	RELIANCE
GATECHDVR	+ 0.8	RICOAUTO
DELTAMAGNT	+ 0.77	HDFCBANK
GATECHDVR	+ 0.74	KINGFA
DELTAMAGNT	+ 0.74	COSMOFIRST
GATECHDVR	+ 0.7	RELIANCE

High negative correlations

HEUBACHIND	- 0.5	HDFCBANK
COSMOFIRST	- 0.4	RELIANCE
RICOAUTO	- 0.39	HDFCBANK
PARAGMILK	- 0.34	RELIANCE
HDFCBANK	- 0.33	RELIANCE
COSMOFIRST	- 0.32	RICOAUTO

Risk-Adjusted Indicators

There is a big difference between Axita Stock performing well and Axita Cotton 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 Axita Cotton'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
RELIANCE	1.08	(0.29)	0.00	(0.72)	0.00	0.00	1.68	(2.07)	5.51
HDFCBANK	1.01	0.07	0.04	0.30	1.16	(1.10)	2.25	(2.14)	5.51
KINGFA	1.79	0.09	0.03	0.72	1.80	(2.29)	3.98	(3.65)	8.70
RICOAUTO	1.72	(0.44)	0.00	(0.56)	0.00	0.00	3.21	(4.52)	9.85
GATECHDVR	2.41	(0.26)	0.00	4.66	0.00	0.00	4.08	(5.45)	12.29
COSMOFIRST	2.05	0.29	0.09	(1.21)	2.34	(2.15)	5.20	(3.92)	17.40
DELTAMAGNT	2.46	0.15	0.06	0.16	2.47	(2.98)	7.69	(4.49)	19.73
TBZ	2.73	(0.13)	0.00	(0.21)	0.00	0.00	6.65	(5.61)	17.64
PARAGMILK	2.21	0.12	0.04	0.20	2.59	(2.43)	5.30	(4.75)	12.83
HEUBACHIND	1.15	0.08	0.02	1.04	2.90	(1.35)	4.20	(1.74)	28.13

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Our tools can tell you how much better you can do entering a position in Axita Cotton 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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Axita Cotton Corporate Management

Elected by the shareholders, the Axita Cotton's board of directors comprises two types of representatives: Axita Cotton inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Axita. The board's role is to monitor Axita Cotton's management team and ensure that shareholders' interests are well served. Axita Cotton's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Axita Cotton's outside directors are responsible for providing unbiased perspectives on the board's policies.

Harsh Shah	Chief Officer	Profile
Kushalkumar Patel	Sustainability MD	Profile
Shyamsunder Panchal	Company Officer	Profile
Nitinkumarbhai Patel	Chairman MD	Profile
Deepakkumar Chaubisa	Company Officer	Profile

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