Khaitan Chemicals Correlations
| KHAICHEM | 70.51 0.27 0.38% |
The current 90-days correlation between Khaitan Chemicals and Fertilizers and Chemicals is 0.52 (i.e., Very weak diversification). The correlation of Khaitan Chemicals 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.
Khaitan Chemicals Correlation With Market
Good diversification
The correlation between Khaitan Chemicals Fertilizers and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Khaitan Chemicals Fertilizers and DJI in the same portfolio, assuming nothing else is changed.
Khaitan |
The ability to find closely correlated positions to Khaitan Chemicals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Khaitan Chemicals 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 Khaitan Chemicals - 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 Khaitan Chemicals Fertilizers to buy it.
Moving together with Khaitan Stock
| 0.78 | UPL | UPL Limited | PairCorr |
| 0.77 | RCF | Rashtriya Chemicals and | PairCorr |
| 0.75 | RELIANCE | Reliance Industries Split | PairCorr |
| 0.79 | ONGC | Oil Natural Gas | PairCorr |
| 0.64 | COALINDIA | Coal India Limited | PairCorr |
Moving against Khaitan Stock
| 0.59 | IITL | Industrial Investment | PairCorr |
| 0.56 | PARADEEP | Paradeep Phosphates | PairCorr |
| 0.31 | COROMANDEL | Coromandel International | PairCorr |
Related Correlations Analysis
| -0.33 | 0.26 | 0.91 | 0.9 | FACT | ||
| -0.33 | 0.49 | -0.26 | -0.01 | PIIND | ||
| 0.26 | 0.49 | 0.2 | 0.44 | SUMICHEM | ||
| 0.91 | -0.26 | 0.2 | 0.84 | CHAMBLFERT | ||
| 0.9 | -0.01 | 0.44 | 0.84 | RCF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Khaitan Stock performing well and Khaitan Chemicals 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 Khaitan Chemicals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FACT | 2.03 | 0.00 | 0.00 | 0.00 | 2.74 | 4.29 | 17.58 | |||
| PIIND | 1.04 | (0.32) | 0.00 | (2.37) | 0.00 | 1.68 | 6.26 | |||
| SUMICHEM | 1.91 | (0.03) | 0.00 | (0.30) | 0.00 | 4.02 | 11.00 | |||
| CHAMBLFERT | 1.72 | (0.01) | 0.00 | (0.01) | 2.37 | 3.31 | 10.28 | |||
| RCF | 2.05 | (0.13) | 0.00 | (6.75) | 0.00 | 4.26 | 13.31 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Khaitan Chemicals 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?
Run Balance Of Power Now
Balance Of PowerCheck stock momentum by analyzing Balance Of Power indicator and other technical ratios |
| All Next | Launch Module |