Paradeep Phosphates Correlations
| PARADEEP | 108.07 4.23 3.77% |
The current 90-days correlation between Paradeep Phosphates and Embassy Office Parks is 0.34 (i.e., Weak diversification). The correlation of Paradeep Phosphates 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.
Paradeep Phosphates Correlation With Market
Significant diversification
The correlation between Paradeep Phosphates Limited and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paradeep Phosphates Limited and DJI in the same portfolio, assuming nothing else is changed.
Paradeep |
The ability to find closely correlated positions to Paradeep Phosphates could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Paradeep Phosphates 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 Paradeep Phosphates - 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 Paradeep Phosphates Limited to buy it.
Moving together with Paradeep Stock
| 0.75 | IMFA | Indian Metals Ferro | PairCorr |
| 0.74 | PAGEIND | Page Industries | PairCorr |
| 0.68 | INDHOTEL | Indian Hotels | PairCorr |
| 0.62 | HDFCBANK | HDFC Bank Limited | PairCorr |
| 0.7 | NAM-INDIA | Nippon Life India | PairCorr |
| 0.8 | JSWHL | JSW Holdings Limited | PairCorr |
| 0.64 | LLOYDSME | LLOYDS METALS AND | PairCorr |
| 0.82 | SBIN | State Bank | PairCorr |
| 0.92 | IITL | Industrial Investment | PairCorr |
| 0.8 | FORTIS | Fortis Healthcare | PairCorr |
| 0.92 | RAINBOW | Rainbow Childrens | PairCorr |
| 0.65 | WELCORP | Welspun Corp Limited | PairCorr |
| 0.87 | GILLETTE | Gillette India | PairCorr |
| 0.69 | INTERARCH | Interarch Building | PairCorr |
| 0.83 | GRWRHITECH | Garware Hi Tech | PairCorr |
Moving against Paradeep Stock
| 0.82 | JTLIND | JTL Industries Split | PairCorr |
| 0.81 | VENUSPIPES | Venus Pipes Tubes | PairCorr |
| 0.64 | SAIL | Steel Authority | PairCorr |
| 0.6 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.57 | EMBASSY-RR | Embassy Office Parks | PairCorr |
| 0.42 | GUJALKALI | Gujarat Alkalies | PairCorr |
| 0.4 | SBCL | Shivalik Bimetal Controls | PairCorr |
| 0.35 | BLUECOAST | Blue Coast Hotels | PairCorr |
| 0.35 | HISARMETAL | Hisar Metal Industries | PairCorr |
Related Correlations Analysis
| 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
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Risk-Adjusted Indicators
There is a big difference between Paradeep Stock performing well and Paradeep Phosphates 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 Paradeep Phosphates' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NMDC | 1.67 | (0.01) | (0.01) | 0.00 | 2.19 | 3.76 | 10.75 | |||
| SAIL | 1.65 | (0.18) | 0.00 | (1.44) | 0.00 | 3.24 | 8.70 | |||
| EMBASSY-RR | 0.96 | (0.12) | 0.00 | 0.58 | 0.00 | 1.84 | 4.80 | |||
| GNFC | 1.44 | (0.16) | 0.00 | (1.07) | 0.00 | 2.51 | 11.02 | |||
| GUJALKALI | 1.24 | (0.14) | 0.00 | (0.51) | 0.00 | 2.99 | 10.86 | |||
| IMFA | 1.99 | 0.49 | 0.21 | 2.12 | 1.79 | 4.97 | 11.39 | |||
| JTLIND | 2.78 | (0.99) | 0.00 | (14.89) | 0.00 | 3.60 | 60.24 | |||
| INDIAGLYCO | 2.48 | 0.17 | 0.05 | 0.28 | 2.71 | 5.48 | 23.17 | |||
| MAITHANALL | 1.48 | 0.07 | 0.02 | 0.40 | 1.79 | 4.17 | 11.35 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Paradeep Phosphates 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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Paradeep Phosphates Corporate Management
Elected by the shareholders, the Paradeep Phosphates' board of directors comprises two types of representatives: Paradeep Phosphates inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Paradeep. The board's role is to monitor Paradeep Phosphates' management team and ensure that shareholders' interests are well served. Paradeep Phosphates' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Paradeep Phosphates' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Pranab Bhattacharyya | Chief Plant | Profile | |
| Rajneesh Bhardwaj | Chief Officer | Profile | |
| Raj Gupta | Chief Officer | Profile | |
| Milind Akerkar | Chief Distbn | Profile | |
| Alok Saxena | Head GM | Profile | |
| Anil Tiwari | General Commercial | Profile |