PTC INDUSTRIES Correlations

PTCIL Stock

17,214 639.30 3.86%

The current 90-days correlation between PTC INDUSTRIES LTD and Tata Consultancy Services is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PTC INDUSTRIES moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PTC INDUSTRIES LTD moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PTC INDUSTRIES Correlation With Market

Significant diversification

The correlation between PTC INDUSTRIES LTD and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PTC INDUSTRIES LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PTC Stock

0.69	CANTABIL	Cantabil Retail India	Pair Corr
0.73	V2RETAIL	V2 Retail Limited	Pair Corr
0.74	ASIANHOTNR	Asian Hotels Limited	Pair Corr
0.61	ITI	ITI Limited	Pair Corr

Moving against PTC Stock

0.66	UNIONBANK	Union Bank Earnings Call Today	Pair Corr
0.52	IITL	Industrial Investment	Pair Corr
0.37	WAAREEENER	Waaree Energies	Pair Corr
0.35	ABMINTLLTD	ABM International	Pair Corr
0.31	MASKINVEST	Mask Investments	Pair Corr

Related Correlations Analysis

	TCS	QUESS	RELIANCE	INFY	SIS	WIPRO	SBIN
TCS		0.04	-0.14	0.64	-0.16	0.12	0.47	TCS
QUESS	0.04		0.45	-0.36	0.59	-0.1	0.64	QUESS
RELIANCE	-0.14	0.45		-0.37	0.65	-0.35	0.27	RELIANCE
INFY	0.64	-0.36	-0.37		-0.41	0.11	-0.05	INFY
SIS	-0.16	0.59	0.65	-0.41		-0.14	0.63	SIS
WIPRO	0.12	-0.1	-0.35	0.11	-0.14		0.03	WIPRO
SBIN	0.47	0.64	0.27	-0.05	0.63	0.03		SBIN
	TCS	QUESS	RELIANCE	INFY	SIS	WIPRO	SBIN

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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

SIS	+ 0.65	RELIANCE
INFY	+ 0.64	TCS
SBIN	+ 0.64	QUESS
SBIN	+ 0.63	SIS
SIS	+ 0.59	QUESS
SBIN	+ 0.47	TCS

High negative correlations

SIS	- 0.41	INFY
INFY	- 0.37	RELIANCE
INFY	- 0.36	QUESS
WIPRO	- 0.35	RELIANCE
SIS	- 0.16	TCS
WIPRO	- 0.14	SIS

Risk-Adjusted Indicators

There is a big difference between PTC Stock performing well and PTC INDUSTRIES 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 PTC INDUSTRIES'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
TCS	1.04	0.03	0.01	0.09	1.27	(1.15)	2.52	(2.02)	7.29
QUESS	1.88	(0.13)	0.00	1.29	0.00	0.00	3.78	(4.05)	13.23
RELIANCE	1.04	(0.06)	0.00	(0.17)	0.00	0.00	1.99	(1.89)	6.12
INFY	1.12	(0.09)	0.00	0.93	0.00	0.00	2.50	(2.65)	7.42
SIS	1.04	(0.28)	0.00	2.86	0.00	0.00	2.33	(2.28)	8.40
WIPRO	3.53	0.87	0.09	(1.20)	7.39	(4.19)	2.82	(2.41)	150.80
SBIN	1.22	(0.08)	0.00	(0.20)	0.00	0.00	2.56	(2.47)	7.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in PTC INDUSTRIES 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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