Gujarat Narmada Correlations
| GNFC Stock | 496.05 4.05 0.82% |
The current 90-days correlation between Gujarat Narmada Valley and Heritage Foods Limited is 0.11 (i.e., Average diversification). The correlation of Gujarat Narmada 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Gujarat Narmada Correlation With Market
Good diversification
The correlation between Gujarat Narmada Valley and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gujarat Narmada Valley and DJI in the same portfolio, assuming nothing else is changed.
Gujarat |
The ability to find closely correlated positions to Gujarat Narmada could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gujarat Narmada 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 Gujarat Narmada - 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 Gujarat Narmada Valley to buy it.
Moving together with Gujarat Stock
| 0.76 | GUJALKALI | Gujarat Alkalies | PairCorr |
| 0.82 | INDIAGLYCO | India Glycols Limited | PairCorr |
| 0.8 | JTLIND | JTL Industries | PairCorr |
Moving against Gujarat Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Gujarat Stock performing well and Gujarat Narmada 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 Gujarat Narmada'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NIBL | 2.09 | (0.05) | 0.00 | (0.14) | 0.00 | 4.98 | 19.44 | |||
| IITL | 2.83 | (0.65) | 0.00 | (0.92) | 0.00 | 4.99 | 14.96 | |||
| HISARMETAL | 2.04 | (0.10) | 0.00 | 0.32 | 0.00 | 5.43 | 12.35 | |||
| SMLT | 2.34 | (0.54) | 0.00 | 2.95 | 0.00 | 4.94 | 18.95 | |||
| GLOBAL | 2.44 | (0.70) | 0.00 | 1.03 | 0.00 | 3.47 | 18.57 | |||
| GTECJAINX | 2.15 | (0.17) | 0.00 | (0.59) | 0.00 | 4.75 | 9.86 | |||
| AGARIND | 2.29 | (0.36) | 0.00 | 12.69 | 0.00 | 4.74 | 15.79 | |||
| HERITGFOOD | 2.06 | (0.26) | 0.00 | (7.78) | 0.00 | 3.55 | 10.90 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Gujarat Narmada 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.Did you try this?
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Gujarat Narmada Corporate Management
Elected by the shareholders, the Gujarat Narmada's board of directors comprises two types of representatives: Gujarat Narmada inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gujarat. The board's role is to monitor Gujarat Narmada's management team and ensure that shareholders' interests are well served. Gujarat Narmada'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, Gujarat Narmada's outside directors are responsible for providing unbiased perspectives on the board's policies.
| K Prajapati | Senior HR | Profile | |
| G Varliani | Head Operations | Profile | |
| Manish Upadhyay | Additional Marketing | Profile | |
| A CS | Company Officer | Profile | |
| R Patel | Chief Manager | Profile |