Rajnandini Metal Correlations
| RAJMET Stock | 4.14 0.16 3.72% |
The current 90-days correlation between Rajnandini Metal and Silgo Retail Limited is 0.28 (i.e., Modest diversification). The correlation of Rajnandini Metal 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.
Rajnandini Metal Correlation With Market
Modest diversification
The correlation between Rajnandini Metal Limited and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rajnandini Metal Limited and DJI in the same portfolio, assuming nothing else is changed.
Rajnandini |
The ability to find closely correlated positions to Rajnandini Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rajnandini Metal 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 Rajnandini Metal - 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 Rajnandini Metal Limited to buy it.
Moving together with Rajnandini Stock
| 0.68 | JAIBALAJI | Jai Balaji Industries Split | PairCorr |
| 0.87 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.93 | GUJALKALI | Gujarat Alkalies | PairCorr |
| 0.89 | INDIAGLYCO | India Glycols Limited | PairCorr |
| 0.81 | IMFA | Indian Metals Ferro | PairCorr |
| 0.88 | JTLIND | JTL Industries | PairCorr |
| 0.84 | LICI | Life InsuranceOf | PairCorr |
Moving against Rajnandini Stock
| 0.91 | UNIVAFOODS | Univa Foods Limited | PairCorr |
| 0.62 | ITDCEM | ITD Cementation India | PairCorr |
| 0.51 | HDFCLIFE | HDFC Life Insurance | PairCorr |
| 0.43 | SHYAMMETL | Shyam Metalics | PairCorr |
Related Correlations Analysis
| -0.23 | 0.85 | 0.88 | -0.83 | HEXATRADEX | ||
| -0.23 | -0.32 | -0.34 | 0.48 | SILGO | ||
| 0.85 | -0.32 | 0.94 | -0.84 | JUNIPER | ||
| 0.88 | -0.34 | 0.94 | -0.93 | SINCLAIR | ||
| -0.83 | 0.48 | -0.84 | -0.93 | BLUECOAST | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Rajnandini Stock performing well and Rajnandini Metal 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 Rajnandini Metal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HEXATRADEX | 2.74 | (0.56) | 0.00 | (1.22) | 0.00 | 5.13 | 15.00 | |||
| SILGO | 3.25 | 0.38 | 0.12 | 11.63 | 3.25 | 9.99 | 25.43 | |||
| JUNIPER | 2.38 | (0.46) | 0.00 | 33.64 | 0.00 | 5.29 | 14.51 | |||
| SINCLAIR | 2.87 | (0.52) | 0.00 | 1.00 | 0.00 | 6.74 | 16.54 | |||
| BLUECOAST | 1.83 | 1.78 | 0.88 | (4.78) | 0.73 | 5.00 | 17.70 |
Be your own money manager
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Rajnandini Metal Corporate Management
Elected by the shareholders, the Rajnandini Metal's board of directors comprises two types of representatives: Rajnandini Metal inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Rajnandini. The board's role is to monitor Rajnandini Metal's management team and ensure that shareholders' interests are well served. Rajnandini Metal's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Rajnandini Metal's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Manoj Jangir | Chief Officer | Profile | |
| Het Sharma | Chairman MD | Profile | |
| Kavita Rani | Ex Director | Profile | |
| Jitendra Sharma | Company Officer | Profile | |
| Yogender Sharma | Company Officer | Profile |