Punjab Chemicals Correlations
| PUNJABCHEM | 1,071 52.95 4.71% |
The current 90-days correlation between Punjab Chemicals Crop and JTL Industries is 0.16 (i.e., Average diversification). The correlation of Punjab Chemicals 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.
Punjab Chemicals Correlation With Market
Significant diversification
The correlation between Punjab Chemicals Crop and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Punjab Chemicals Crop and DJI in the same portfolio, assuming nothing else is changed.
Punjab |
The ability to find closely correlated positions to Punjab Chemicals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Punjab Chemicals 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 Punjab Chemicals - 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 Punjab Chemicals Crop to buy it.
Moving together with Punjab Stock
| 0.8 | SAIL | Steel Authority | PairCorr |
| 0.8 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.83 | JTLIND | JTL Industries Split | PairCorr |
| 0.84 | VENUSPIPES | Venus Pipes Tubes | PairCorr |
| 0.62 | BAGFILMS | BAG Films | PairCorr |
| 0.66 | HISARMETAL | Hisar Metal Industries | PairCorr |
Moving against Punjab Stock
| 0.76 | RAINBOW | Rainbow Childrens | PairCorr |
| 0.64 | GILLETTE | Gillette India | PairCorr |
| 0.6 | TARAPUR | Tarapur Transformers | PairCorr |
| 0.56 | IMFA | Indian Metals Ferro | PairCorr |
| 0.52 | BGLOBAL | Bharatiya Global Inf | PairCorr |
| 0.52 | PAGEIND | Page Industries | PairCorr |
| 0.4 | PILANIINVS | Pilani Investment | PairCorr |
| 0.36 | NAM-INDIA | Nippon Life India | PairCorr |
| 0.83 | SASKEN | Sasken Technologies | PairCorr |
| 0.82 | IITL | Industrial Investment | PairCorr |
| 0.81 | JSWHL | JSW Holdings Limited | PairCorr |
| 0.73 | GANESHHOUC | Ganesh Housing | PairCorr |
| 0.68 | INTERARCH | Interarch Building | PairCorr |
| 0.66 | GRWRHITECH | Garware Hi Tech | PairCorr |
| 0.65 | SUMMITSEC | Summit Securities | PairCorr |
| 0.63 | FORTIS | Fortis Healthcare | PairCorr |
| 0.62 | MANGCHEFER | Mangalore Chemicals | PairCorr |
| 0.56 | 63MOONS | 63 moons technologies | PairCorr |
Related Correlations Analysis
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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 Punjab Stock performing well and Punjab Chemicals 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 Punjab Chemicals' 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 Punjab Chemicals 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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Punjab Chemicals Corporate Management
Elected by the shareholders, the Punjab Chemicals' board of directors comprises two types of representatives: Punjab Chemicals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Punjab. The board's role is to monitor Punjab Chemicals' management team and ensure that shareholders' interests are well served. Punjab Chemicals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Punjab Chemicals' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jain Prakash | Senior Works | Profile | |
| Srinivas | Compliance Sec | Profile | |
| Vinod Gupta | Chief Officer | Profile | |
| Ashish Nayak | Chief Officer | Profile | |
| Sriram Swaminathan | Chief Officer | Profile | |
| Rishu Chatley | Company Officer | Profile |