Fiberweb Correlations

FIBERWEB

60.00 0.32 0.53%

The current 90-days correlation between Fiberweb Limited and GACM Technologies Limited is 0.43 (i.e., Very weak diversification). The correlation of Fiberweb 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.

Fiberweb Correlation With Market

Modest diversification

The correlation between Fiberweb Limited and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fiberweb Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fiberweb Stock

0.93	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.71	BAJAJHCARE	Bajaj Healthcare	Pair Corr
0.8	AGI	AGI Greenpac Limited	Pair Corr
0.85	KEC	KEC International	Pair Corr
0.66	GILLETTE	Gillette India	Pair Corr
0.79	IITL	Industrial Investment	Pair Corr
0.81	360ONE	360 ONE WAM	Pair Corr
0.71	NAM-INDIA	Nippon Life India	Pair Corr
0.81	COSMOFIRST	COSMO FIRST LIMITED	Pair Corr
0.74	SBIN	State Bank	Pair Corr
0.74	AGARIND	Agarwal Industrial	Pair Corr
0.79	WELCORP	Welspun Corp Limited	Pair Corr
0.75	STEELCAS	Steelcast Limited	Pair Corr
0.75	LLOYDSME	LLOYDS METALS AND	Pair Corr
0.82	CAPACITE	Capacite Infraprojects	Pair Corr
0.9	INDHOTEL	Indian Hotels	Pair Corr
0.88	GRWRHITECH	Garware Hi Tech	Pair Corr
0.7	LT	Larsen Toubro Limited	Pair Corr
0.82	DELTAMAGNT	Delta Manufacturing	Pair Corr
0.77	HDFCBANK	HDFC Bank Limited	Pair Corr
0.61	THOMASCOTT	Thomas Scott Limited	Pair Corr
0.86	FORTIS	Fortis Healthcare	Pair Corr
0.63	JSWHL	JSW Holdings Limited	Pair Corr
0.68	SUMMITSEC	Summit Securities	Pair Corr

Moving against Fiberweb Stock

0.5	BIOFILCHEM	Biofil Chemicals Pha	Pair Corr
0.49	CCCL	Consolidated Construction	Pair Corr
0.58	SBCL	Shivalik Bimetal Controls	Pair Corr

Related Correlations Analysis

	RELIANCE	HDFCBANK	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND
RELIANCE		-0.32	0.38	0.93	0.67	-0.42	-0.24	0.57	-0.25	0.21	RELIANCE
HDFCBANK	-0.32		0.13	-0.39	-0.08	0.65	0.78	-0.14	-0.15	-0.51	HDFCBANK
KINGFA	0.38	0.13		0.53	0.71	0.44	0.43	0.55	-0.01	0.23	KINGFA
RICOAUTO	0.93	-0.39	0.53		0.79	-0.34	-0.18	0.67	-0.05	0.36	RICOAUTO
GATECHDVR	0.67	-0.08	0.71	0.79		0.04	0.12	0.57	-0.18	0.21	GATECHDVR
COSMOFIRST	-0.42	0.65	0.44	-0.34	0.04		0.74	0.0	-0.02	-0.17	COSMOFIRST
DELTAMAGNT	-0.24	0.78	0.43	-0.18	0.12	0.74		0.02	0.17	-0.15	DELTAMAGNT
TBZ	0.57	-0.14	0.55	0.67	0.57	0.0	0.02		0.16	0.19	TBZ
PARAGMILK	-0.25	-0.15	-0.01	-0.05	-0.18	-0.02	0.17	0.16		0.34	PARAGMILK
HEUBACHIND	0.21	-0.51	0.23	0.36	0.21	-0.17	-0.15	0.19	0.34		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	+ 0.93	RELIANCE
GATECHDVR	+ 0.79	RICOAUTO
DELTAMAGNT	+ 0.78	HDFCBANK
DELTAMAGNT	+ 0.74	COSMOFIRST
GATECHDVR	+ 0.71	KINGFA
GATECHDVR	+ 0.67	RELIANCE

High negative correlations

HEUBACHIND	- 0.51	HDFCBANK
COSMOFIRST	- 0.42	RELIANCE
RICOAUTO	- 0.39	HDFCBANK
COSMOFIRST	- 0.34	RICOAUTO
HDFCBANK	- 0.32	RELIANCE
PARAGMILK	- 0.25	RELIANCE

Risk-Adjusted Indicators

There is a big difference between Fiberweb Stock performing well and Fiberweb 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 Fiberweb'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	1.06	(0.31)	0.00	(0.76)	0.00	0.00	1.68	(2.07)	5.51
HDFCBANK	0.99	0.04	0.01	0.19	1.18	(1.07)	2.25	(2.14)	5.51
KINGFA	1.76	0.06	0.02	0.53	1.81	(2.23)	3.98	(3.65)	8.70
RICOAUTO	1.70	(0.50)	0.00	(0.64)	0.00	0.00	3.21	(4.52)	9.85
GATECHDVR	2.43	(0.30)	0.00	3.20	0.00	0.00	4.08	(5.45)	12.29
COSMOFIRST	2.11	0.34	0.11	(2.20)	2.33	(2.25)	5.20	(3.92)	21.02
DELTAMAGNT	2.53	0.19	0.08	0.19	2.42	(3.12)	8.07	(4.49)	19.73
TBZ	2.70	(0.09)	0.00	(0.13)	0.00	0.00	6.65	(5.61)	17.64
PARAGMILK	2.22	0.07	0.02	0.15	2.57	(2.47)	5.30	(4.75)	12.83
HEUBACHIND	1.15	0.07	0.01	1.00	2.90	(1.34)	4.20	(1.74)	28.13

Be your own money manager

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