Gatron Industries Correlations

GATI Stock

130.85 2.96 2.31%

The current 90-days correlation between Gatron Industries and TPL Insurance is 0.11 (i.e., Average diversification). The correlation of Gatron Industries 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.

Gatron Industries Correlation With Market

Good diversification

The correlation between Gatron Industries and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gatron Industries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gatron Stock

0.7	MARI	Mari Petroleum	Pair Corr
0.63	PSO	Pakistan State Oil	Pair Corr

Moving against Gatron Stock

0.89	FHAM	First Habib Modaraba	Pair Corr
0.88	CENI	Century Insurance	Pair Corr
0.78	PSYL	Pakistan Synthetics	Pair Corr
0.6	AGP	AGP	Pair Corr
0.6	EFUG	EFU General Insurance	Pair Corr
0.56	LOADS	Loads	Pair Corr
0.4	MEBL	Meezan Bank	Pair Corr
0.35	MSOT	Masood Textile Mills	Pair Corr
0.9	LCI	Lucky Core Ind	Pair Corr
0.86	GCIL	Ghani Chemical Industries	Pair Corr
0.85	AGL	Agritech	Pair Corr
0.8	AGIC	Askari General Insurance	Pair Corr
0.8	SHFA	Shifa International	Pair Corr
0.79	MCBIM	MCB Investment Manag	Pair Corr
0.74	LUCK	Lucky Cement Split	Pair Corr
0.72	EWIC	East West Insurance	Pair Corr
0.66	NBP	National Bank	Pair Corr
0.66	BAHL	Bank Al Habib	Pair Corr
0.64	SITC	Sitara Chemical Indu	Pair Corr
0.63	JGICL	Jubilee General Insurance	Pair Corr
0.6	AKBL	Askari Bank	Pair Corr
0.57	UBL	United Bank	Pair Corr
0.53	786	786 Investment	Pair Corr
0.42	HMB	Habib Metropolitan Bank	Pair Corr

Related Correlations Analysis

	TPLI	UNIC	AICL	PABC	ICIBL	IGIL	PAKRI
TPLI		-0.75	0.35	0.64	0.61	0.01	0.44	TPLI
UNIC	-0.75		-0.23	-0.52	-0.57	0.14	-0.25	UNIC
AICL	0.35	-0.23		0.13	0.58	-0.41	0.45	AICL
PABC	0.64	-0.52	0.13		0.44	0.27	0.55	PABC
ICIBL	0.61	-0.57	0.58	0.44		-0.39	0.55	ICIBL
IGIL	0.01	0.14	-0.41	0.27	-0.39		0.06	IGIL
PAKRI	0.44	-0.25	0.45	0.55	0.55	0.06		PAKRI
	TPLI	UNIC	AICL	PABC	ICIBL	IGIL	PAKRI

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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

PABC	+ 0.64	TPLI
ICIBL	+ 0.61	TPLI
ICIBL	+ 0.58	AICL
PAKRI	+ 0.55	PABC
PAKRI	+ 0.55	ICIBL
PAKRI	+ 0.45	AICL

High negative correlations

UNIC	- 0.75	TPLI
ICIBL	- 0.57	UNIC
PABC	- 0.52	UNIC
IGIL	- 0.41	AICL
IGIL	- 0.39	ICIBL
PAKRI	- 0.25	UNIC

Risk-Adjusted Indicators

There is a big difference between Gatron Stock performing well and Gatron Industries 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 Gatron Industries' 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
TPLI	2.13	(0.15)	0.00	(0.52)	0.00	0.00	4.26	(4.55)	15.89
UNIC	1.39	0.09	0.13	(0.39)	1.55	(1.62)	3.10	(2.67)	8.75
AICL	1.69	(0.07)	0.00	(0.49)	0.00	0.00	4.02	(3.63)	14.07
PABC	2.26	0.25	0.11	0.52	2.64	(2.41)	5.19	(3.49)	16.91
ICIBL	2.81	(0.21)	0.00	(0.43)	0.00	0.00	6.08	(7.01)	17.00
IGIL	2.99	0.34	0.08	1.61	3.77	(3.73)	8.07	(8.21)	19.70
PAKRI	1.34	(0.07)	0.00	(0.28)	0.00	0.00	3.10	(2.97)	9.51

Be your own money manager

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