Ganesh Housing Correlations

GANESHHOUC   1,188  64.45  5.15%   
The current 90-days correlation between Ganesh Housing and MIRC Electronics Limited is 0.38 (i.e., Weak diversification). The correlation of Ganesh Housing 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.

Ganesh Housing Correlation With Market

Modest diversification

The correlation between Ganesh Housing 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 Ganesh Housing and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ganesh Housing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ganesh Housing 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 Ganesh Housing - 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 Ganesh Housing to buy it.

Moving together with Ganesh Stock

  0.85SBIN State BankPairCorr
  0.73JSWHL JSW Holdings LimitedPairCorr
  0.76NAM-INDIA Nippon Life IndiaPairCorr
  0.87RAINBOW Rainbow ChildrensPairCorr
  0.63KEC KEC InternationalPairCorr
  0.91GRWRHITECH Garware Hi TechPairCorr
  0.77PAGEIND Page IndustriesPairCorr
  0.8GILLETTE Gillette IndiaPairCorr
  0.61COSMOFIRST COSMO FIRST LIMITEDPairCorr
  0.71LLOYDSME LLOYDS METALS ANDPairCorr
  0.66DELTAMAGNT Delta ManufacturingPairCorr
  0.91MANGCHEFER Mangalore ChemicalsPairCorr
  0.75SUMMITSEC Summit SecuritiesPairCorr
  0.89IITL Industrial InvestmentPairCorr
  0.62STEELCAS Steelcast LimitedPairCorr
  0.79INDHOTEL Indian HotelsPairCorr
  0.73WELCORP Welspun Corp LimitedPairCorr
  0.77HDFCBANK HDFC Bank LimitedPairCorr

Moving against Ganesh Stock

  0.43SBCL Shivalik Bimetal ControlsPairCorr
  0.36BLUECOAST Blue Coast HotelsPairCorr
  0.33HISARMETAL Hisar Metal IndustriesPairCorr

Related Correlations Analysis

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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   
ELINMIRCELECTR
ELINGTECJAINX
ELINLOTUSEYE
LOTUSEYEMIRCELECTR
GTECJAINXMIRCELECTR
VIPCLOTHNGLOTUSEYE
  
High negative correlations   
HAVISHALOTUSEYE
HAVISHAGTECJAINX
HAVISHAELIN
HAVISHAMIRCELECTR
PGHLGTECJAINX
VIPCLOTHNGHAVISHA

Risk-Adjusted Indicators

There is a big difference between Ganesh Stock performing well and Ganesh Housing 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 Ganesh Housing'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.

Be your own money manager

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