Premier Polyfilm Correlations

PREMIERPOL

71.42 3.21 4.30%

The current 90-days correlation between Premier Polyfilm and NMDC Limited is 0.08 (i.e., Significant diversification). The correlation of Premier Polyfilm 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.

Premier Polyfilm Correlation With Market

Good diversification

The correlation between Premier Polyfilm Limited and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Premier Polyfilm Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Premier Stock

0.7	INTERARCH	Interarch Building	Pair Corr
0.63	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.66	360ONE	360 ONE WAM	Pair Corr
0.63	SUMMITSEC	Summit Securities	Pair Corr
0.82	PAGEIND	Page Industries	Pair Corr
0.66	RAINBOW	Rainbow Childrens	Pair Corr
0.68	GRWRHITECH	Garware Hi Tech	Pair Corr
0.68	LLOYDSME	LLOYDS METALS AND	Pair Corr
0.66	IITL	Industrial Investment	Pair Corr

Moving against Premier Stock

0.76	VENUSPIPES	Venus Pipes Tubes	Pair Corr
0.65	JTLIND	JTL Industries Split	Pair Corr
0.56	SAIL	Steel Authority	Pair Corr
0.52	GNFC	Gujarat Narmada Valley	Pair Corr
0.49	EMBASSY-RR	Embassy Office Parks	Pair Corr

Related Correlations Analysis

	NMDC	SAIL	EMBASSY-RR	GNFC	GUJALKALI	IMFA	INDIAGLYCO	MAITHANALL
NMDC		0.41	0.01	0.34	0.15	0.31	0.38	0.12	NMDC
SAIL	0.41		0.36	0.85	0.36	-0.24	0.55	0.44	SAIL
EMBASSY-RR	0.01	0.36		0.45	0.75	-0.82	-0.07	-0.32	EMBASSY-RR
GNFC	0.34	0.85	0.45		0.52	-0.32	0.47	0.27	GNFC
GUJALKALI	0.15	0.36	0.75	0.52		-0.63	0.21	-0.3	GUJALKALI
IMFA	0.31	-0.24	-0.82	-0.32	-0.63		0.32	0.41	IMFA
INDIAGLYCO	0.38	0.55	-0.07	0.47	0.21	0.32		0.37	INDIAGLYCO
MAITHANALL	0.12	0.44	-0.32	0.27	-0.3	0.41	0.37		MAITHANALL
	NMDC	SAIL	EMBASSY-RR	GNFC	GUJALKALI	IMFA	INDIAGLYCO	MAITHANALL

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

GNFC	+ 0.85	SAIL
GUJALKALI	+ 0.75	EMBASSY-RR
INDIAGLYCO	+ 0.55	SAIL
GUJALKALI	+ 0.52	GNFC
INDIAGLYCO	+ 0.47	GNFC
GNFC	+ 0.45	EMBASSY-RR

High negative correlations

IMFA	- 0.82	EMBASSY-RR
IMFA	- 0.63	GUJALKALI
IMFA	- 0.32	GNFC
MAITHANALL	- 0.32	EMBASSY-RR
MAITHANALL	- 0.3	GUJALKALI
IMFA	- 0.24	SAIL

Risk-Adjusted Indicators

There is a big difference between Premier Stock performing well and Premier Polyfilm 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 Premier Polyfilm'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
NMDC	1.67	(0.01)	(0.01)	0.00	2.19	(1.68)	3.76	(3.51)	10.75
SAIL	1.65	(0.18)	0.00	(1.44)	0.00	0.00	3.24	(3.68)	8.70
EMBASSY-RR	0.96	(0.12)	0.00	0.58	0.00	0.00	1.84	(2.01)	4.80
GNFC	1.44	(0.16)	0.00	(1.07)	0.00	0.00	2.51	(3.15)	11.02
GUJALKALI	1.24	(0.14)	0.00	(0.51)	0.00	0.00	2.99	(2.88)	10.86
IMFA	1.99	0.49	0.21	2.12	1.79	(2.19)	4.97	(2.76)	11.39
INDIAGLYCO	2.48	0.17	0.05	0.28	2.71	(2.74)	5.48	(4.42)	23.17
MAITHANALL	1.48	0.07	0.02	0.40	1.79	(1.66)	4.17	(3.32)	11.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in Premier Polyfilm 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 AI Portfolio Architect Now

AI Portfolio Architect

Use AI to generate optimal portfolios and find profitable investment opportunities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC