LLOYDS METALS Correlations

LLOYDSME

1,040 70.80 7.31%

The current 90-days correlation between LLOYDS METALS AND and Ratnamani Metals Tubes is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LLOYDS METALS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LLOYDS METALS AND moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

LLOYDS METALS Correlation With Market

Modest diversification

The correlation between LLOYDS METALS AND 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 LLOYDS METALS AND and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with LLOYDS Stock

0.61	JSWSTEEL	JSW Steel Limited	Pair Corr
0.74	APLAPOLLO	APL Apollo Tubes	Pair Corr

Moving against LLOYDS Stock

0.79	IRFC	Indian Railway Finance	Pair Corr
0.77	LICI	Life Insurance	Pair Corr
0.76	PFC	Power Finance	Pair Corr
0.72	RECLTD	REC Limited	Pair Corr
0.71	RELIANCE	Reliance Industries Split	Pair Corr
0.67	KIOCL	KIOCL Limited	Pair Corr
0.66	RATNAMANI	Ratnamani Metals Tubes	Pair Corr
0.64	SBILIFE	SBI Life Insurance	Pair Corr
0.31	JINDALSTEL	Jindal Steel Power	Pair Corr

Related Correlations Analysis

	JSWSTEEL	TATASTEEL	JINDALSTEL	JSL	APLAPOLLO	RATNAMANI	KIOCL	SHYAMMETL	WELCORP
JSWSTEEL		0.65	0.4	0.45	0.84	-0.2	-0.17	0.67	0.39	JSWSTEEL
TATASTEEL	0.65		0.85	0.78	0.55	0.33	0.28	0.71	0.09	TATASTEEL
JINDALSTEL	0.4	0.85		0.84	0.19	0.57	0.49	0.71	-0.16	JINDALSTEL
JSL	0.45	0.78	0.84		0.26	0.45	0.64	0.65	-0.15	JSL
APLAPOLLO	0.84	0.55	0.19	0.26		-0.29	-0.27	0.51	0.48	APLAPOLLO
RATNAMANI	-0.2	0.33	0.57	0.45	-0.29		0.54	0.14	-0.23	RATNAMANI
KIOCL	-0.17	0.28	0.49	0.64	-0.27	0.54		0.06	-0.2	KIOCL
SHYAMMETL	0.67	0.71	0.71	0.65	0.51	0.14	0.06		0.05	SHYAMMETL
WELCORP	0.39	0.09	-0.16	-0.15	0.48	-0.23	-0.2	0.05		WELCORP
	JSWSTEEL	TATASTEEL	JINDALSTEL	JSL	APLAPOLLO	RATNAMANI	KIOCL	SHYAMMETL	WELCORP

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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

JINDALSTEL	+ 0.85	TATASTEEL
APLAPOLLO	+ 0.84	JSWSTEEL
JSL	+ 0.84	JINDALSTEL
JSL	+ 0.78	TATASTEEL
SHYAMMETL	+ 0.71	TATASTEEL
SHYAMMETL	+ 0.71	JINDALSTEL

High negative correlations

RATNAMANI	- 0.29	APLAPOLLO
KIOCL	- 0.27	APLAPOLLO
WELCORP	- 0.23	RATNAMANI
WELCORP	- 0.2	KIOCL
RATNAMANI	- 0.2	JSWSTEEL
KIOCL	- 0.17	JSWSTEEL

Risk-Adjusted Indicators

There is a big difference between LLOYDS Stock performing well and LLOYDS METALS 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 LLOYDS METALS'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
JSWSTEEL	1.14	(0.02)	(0.07)	0.08	1.20	(1.26)	2.92	(2.02)	7.13
TATASTEEL	1.14	(0.13)	0.00	(0.30)	0.00	0.00	2.40	(2.24)	7.89
JINDALSTEL	1.39	(0.15)	0.00	(0.21)	0.00	0.00	2.33	(2.73)	7.97
JSL	1.63	(0.09)	0.00	(2.43)	0.00	0.00	2.84	(4.37)	14.39
APLAPOLLO	1.35	0.00	(0.05)	0.13	1.38	(1.60)	3.30	(2.58)	6.35
RATNAMANI	1.06	(0.09)	0.00	(0.65)	0.00	0.00	2.07	(2.13)	11.63
KIOCL	2.36	(0.18)	0.00	(0.23)	0.00	0.00	4.91	(5.43)	19.45
SHYAMMETL	1.63	0.08	(0.01)	0.66	2.14	(1.79)	3.80	(3.92)	12.33
WELCORP	1.69	0.06	0.01	0.23	2.25	(1.70)	4.17	(4.06)	11.04

Be your own money manager

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