Engro Fertilizers Correlations

EFERT Stock

201.46 0.31 0.15%

The current 90-days correlation between Engro Fertilizers and National Bank of is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Engro Fertilizers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Engro Fertilizers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

Moving together with Engro Stock

0.73	FFL	Fauji Foods	Pair Corr
0.66	KSBP	KSB Pumps	Pair Corr
0.66	LOADS	Loads	Pair Corr
0.73	THCCL	Thatta Cement	Pair Corr
0.68	KAPCO	KOT Addu Power	Pair Corr
0.63	REWM	Reliance Weaving Mills	Pair Corr
0.74	AGP	AGP	Pair Corr
0.68	HBL	Habib Bank	Pair Corr
0.69	MTL	Millat Tractors	Pair Corr
0.73	OGDC	Oil and Gas	Pair Corr
0.63	NBP	National Bank	Pair Corr
0.7	AICL	Adamjee Insurance	Pair Corr
0.69	CLOV	Clover Pakistan	Pair Corr
0.63	WTL	WorldCall Telecom	Pair Corr
0.68	ACIETF	Alfalah Consumer	Pair Corr
0.63	PSO	Pakistan State Oil	Pair Corr
0.71	AKBL	Askari Bank	Pair Corr

Moving against Engro Stock

0.4

MSOT

Masood Textile Mills

Pair Corr

Related Correlations Analysis

	NBP	UBL	BAFL	ABL	MEBL	AKBL	HMB	MCB	BAHL	FABL
NBP		0.54	0.7	0.68	0.47	0.76	0.65	0.7	0.72	0.44	NBP
UBL	0.54		0.91	0.86	0.3	0.87	0.93	0.89	0.89	0.34	UBL
BAFL	0.7	0.91		0.95	0.26	0.96	0.96	0.96	0.98	0.29	BAFL
ABL	0.68	0.86	0.95		0.24	0.93	0.95	0.91	0.96	0.14	ABL
MEBL	0.47	0.3	0.26	0.24		0.18	0.22	0.33	0.29	0.62	MEBL
AKBL	0.76	0.87	0.96	0.93	0.18		0.94	0.9	0.95	0.24	AKBL
HMB	0.65	0.93	0.96	0.95	0.22	0.94		0.93	0.97	0.19	HMB
MCB	0.7	0.89	0.96	0.91	0.33	0.9	0.93		0.96	0.32	MCB
BAHL	0.72	0.89	0.98	0.96	0.29	0.95	0.97	0.96		0.26	BAHL
FABL	0.44	0.34	0.29	0.14	0.62	0.24	0.19	0.32	0.26		FABL
	NBP	UBL	BAFL	ABL	MEBL	AKBL	HMB	MCB	BAHL	FABL

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Risk-Adjusted Indicators

There is a big difference between Engro Stock performing well and Engro Fertilizers 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 Engro Fertilizers' 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
NBP	2.35	0.10	0.03	0.14	3.61	(2.30)	3.96	(6.75)	19.71
UBL	1.47	0.38	0.18	1.58	1.42	(1.58)	4.18	(2.65)	10.16
BAFL	2.00	0.50	0.21	1.16	2.02	(2.62)	5.94	(4.29)	15.57
ABL	1.51	0.33	0.15	0.90	1.68	(1.70)	4.53	(3.25)	10.81
MEBL	1.46	(0.03)	0.00	(0.03)	0.00	0.00	4.24	(2.97)	19.53
AKBL	2.20	0.57	0.19	0.71	2.45	(2.52)	8.08	(4.23)	18.66
HMB	1.41	0.37	0.20	0.57	1.37	(1.69)	3.95	(2.17)	14.15
MCB	1.62	0.25	0.10	1.94	1.99	(1.79)	4.52	(4.05)	11.22
BAHL	1.70	0.46	0.22	0.80	1.46	(1.83)	6.59	(3.43)	14.57
FABL	1.75	0.09	0.02	0.36	2.58	(1.76)	3.65	(3.53)	17.28

Be your own money manager

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