Muthoot Finance Correlations

MUTHOOTFIN

2,070 7.10 0.34%

The current 90-days correlation between Muthoot Finance and Arvind Limited is 0.11 (i.e., Average diversification). The correlation of Muthoot Finance 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.

Muthoot Finance Correlation With Market

Good diversification

The correlation between Muthoot Finance Limited and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Muthoot Finance Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Muthoot Stock

0.61	KEC	KEC International	Pair Corr
0.76	ASALCBR	Associated Alcohols	Pair Corr
0.86	CANTABIL	Cantabil Retail India	Pair Corr
0.77	TNTELE	Tamilnadu Telecommunicatio	Pair Corr
0.77	DYNAMATECH	Dynamatic Technologies	Pair Corr
0.7	THOMASCOTT	Thomas Scott Limited	Pair Corr
0.72	CAPACITE	Capacite Infraprojects	Pair Corr
0.63	DELTAMAGNT	Delta Manufacturing	Pair Corr
0.68	AGI	AGI Greenpac Limited	Pair Corr
0.76	AGARIND	Agarwal Industrial	Pair Corr
0.68	STEELCAS	Steelcast Limited	Pair Corr
0.66	NEWGEN	Newgen Software Tech	Pair Corr

Related Correlations Analysis

	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON	ARVIND
KINGFA		0.46	0.68	0.48	0.44	0.51	0.0	0.24	0.42	0.49	KINGFA
RICOAUTO	0.46		0.77	-0.35	-0.19	0.69	0.05	0.4	0.98	-0.14	RICOAUTO
GATECHDVR	0.68	0.77		0.06	0.13	0.6	-0.08	0.26	0.77	0.3	GATECHDVR
COSMOFIRST	0.48	-0.35	0.06		0.74	-0.02	-0.08	-0.18	-0.38	0.82	COSMOFIRST
DELTAMAGNT	0.44	-0.19	0.13	0.74		0.01	0.15	-0.15	-0.23	0.74	DELTAMAGNT
TBZ	0.51	0.69	0.6	-0.02	0.01		0.2	0.19	0.7	0.15	TBZ
PARAGMILK	0.0	0.05	-0.08	-0.08	0.15	0.2		0.33	-0.01	-0.16	PARAGMILK
HEUBACHIND	0.24	0.4	0.26	-0.18	-0.15	0.19	0.33		0.31	-0.24	HEUBACHIND
CHEMCON	0.42	0.98	0.77	-0.38	-0.23	0.7	-0.01	0.31		-0.13	CHEMCON
ARVIND	0.49	-0.14	0.3	0.82	0.74	0.15	-0.16	-0.24	-0.13		ARVIND
	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON	ARVIND

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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

CHEMCON	+ 0.98	RICOAUTO
ARVIND	+ 0.82	COSMOFIRST
GATECHDVR	+ 0.77	RICOAUTO
CHEMCON	+ 0.77	GATECHDVR
DELTAMAGNT	+ 0.74	COSMOFIRST
ARVIND	+ 0.74	DELTAMAGNT

High negative correlations

CHEMCON	- 0.38	COSMOFIRST
COSMOFIRST	- 0.35	RICOAUTO
ARVIND	- 0.24	HEUBACHIND
CHEMCON	- 0.23	DELTAMAGNT
DELTAMAGNT	- 0.19	RICOAUTO
HEUBACHIND	- 0.18	COSMOFIRST

Risk-Adjusted Indicators

There is a big difference between Muthoot Stock performing well and Muthoot Finance 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 Muthoot Finance'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
KINGFA	1.75	0.06	0.02	0.16	1.74	(2.23)	3.98	(3.09)	8.70
RICOAUTO	1.69	(0.46)	0.00	(1.48)	0.00	0.00	3.21	(4.52)	9.85
GATECHDVR	2.36	(0.24)	0.00	2.34	0.00	0.00	4.08	(5.45)	12.29
COSMOFIRST	2.11	0.30	0.09	(0.66)	2.32	(2.26)	5.20	(3.92)	21.02
DELTAMAGNT	2.58	0.17	0.05	1.52	2.57	(3.12)	8.07	(4.49)	19.73
TBZ	2.68	(0.20)	0.00	3.90	0.00	0.00	6.65	(5.61)	17.64
PARAGMILK	2.22	0.07	0.02	0.20	2.54	(2.53)	5.30	(4.75)	12.83
HEUBACHIND	1.15	0.06	0.01	0.23	2.93	(1.31)	4.20	(1.74)	28.13
CHEMCON	1.15	(0.33)	0.00	(8.76)	0.00	0.00	2.23	(3.49)	7.46
ARVIND	2.25	0.06	0.01	0.35	2.26	(2.83)	4.02	(3.52)	24.08

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Our tools can tell you how much better you can do entering a position in Muthoot Finance 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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