Palred Technologies Correlations
| PALREDTEC | 41.05 2.17 5.02% |
The current 90-days correlation between Palred Technologies and Mask Investments Limited is 0.38 (i.e., Weak diversification). The correlation of Palred Technologies 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.
Palred Technologies Correlation With Market
Average diversification
The correlation between Palred Technologies Limited and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palred Technologies Limited and DJI in the same portfolio, assuming nothing else is changed.
Palred |
The ability to find closely correlated positions to Palred Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Palred Technologies 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 Palred Technologies - 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 Palred Technologies Limited to buy it.
Moving together with Palred Stock
Moving against Palred Stock
| 0.87 | UNIVAFOODS | Univa Foods Limited | PairCorr |
| 0.64 | VADILALIND | Vadilal Industries | PairCorr |
| 0.59 | ITDCEM | ITD Cementation India | PairCorr |
| 0.51 | HDFCLIFE | HDFC Life Insurance | PairCorr |
| 0.43 | SHYAMMETL | Shyam Metalics | PairCorr |
Related Correlations Analysis
| 0.88 | 0.61 | 0.82 | 0.0 | 0.56 | 0.95 | 0.86 | NETWORK18 | ||
| 0.88 | 0.48 | 0.83 | 0.0 | 0.48 | 0.89 | 0.89 | ZUARI | ||
| 0.61 | 0.48 | 0.56 | 0.0 | 0.32 | 0.6 | 0.55 | FLUOROCHEM | ||
| 0.82 | 0.83 | 0.56 | 0.0 | 0.38 | 0.9 | 0.74 | MASKINVEST | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | DHARSUGAR | ||
| 0.56 | 0.48 | 0.32 | 0.38 | 0.0 | 0.42 | 0.53 | BHAGCHEM | ||
| 0.95 | 0.89 | 0.6 | 0.9 | 0.0 | 0.42 | 0.82 | JPOLYINVST | ||
| 0.86 | 0.89 | 0.55 | 0.74 | 0.0 | 0.53 | 0.82 | DHUNINV | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Palred Stock performing well and Palred Technologies 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 Palred Technologies' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NETWORK18 | 2.27 | (0.82) | 0.00 | 6.20 | 0.00 | 3.19 | 12.73 | |||
| ZUARI | 2.28 | (0.24) | 0.00 | (0.60) | 0.00 | 3.70 | 11.85 | |||
| FLUOROCHEM | 1.66 | (0.09) | 0.00 | (0.30) | 0.00 | 3.33 | 9.53 | |||
| MASKINVEST | 2.74 | (0.46) | 0.00 | (13.85) | 0.00 | 5.00 | 10.00 | |||
| DHARSUGAR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BHAGCHEM | 1.39 | (0.16) | 0.00 | 0.89 | 0.00 | 3.40 | 10.50 | |||
| JPOLYINVST | 1.84 | (0.39) | 0.00 | (7.77) | 0.00 | 3.78 | 9.10 | |||
| DHUNINV | 2.74 | (0.51) | 0.00 | 2.82 | 0.00 | 5.14 | 23.85 |
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Palred Technologies Corporate Management
Elected by the shareholders, the Palred Technologies' board of directors comprises two types of representatives: Palred Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Palred. The board's role is to monitor Palred Technologies' management team and ensure that shareholders' interests are well served. Palred Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Palred Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Balakrishna Reddy | Head Mang | Profile | |
| Pinekalapati Naidu | Chief Officer | Profile | |
| M Balakrishna | APAC India | Profile | |
| Krishna Rallabhandi | Region Operations | Profile | |
| Shruti Rege | Company Officer | Profile |