Shriram Finance Correlations

SHRIRAMFIN

656.00 22.50 3.32%

The current 90-days correlation between Shriram Finance and MRF Limited is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shriram Finance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shriram Finance Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shriram Finance Correlation With Market

Modest diversification

The correlation between Shriram Finance Limited and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shriram Finance Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Shriram Stock

0.67

ITDCEM

ITD Cementation India

Pair Corr

Moving against Shriram Stock

0.73	GANGOTRI	Gangotri Textiles	Pair Corr
0.42	BLAL	BEML LAND ASSETS	Pair Corr

Related Correlations Analysis

	MRF	NSIL	JSWHL	MAHSCOOTER	KICL	PILANIINVS	VHL	SUMMITSEC	NBIFIN
MRF		0.81	-0.09	0.24	0.79	0.78	0.88	0.87	0.81	MRF
NSIL	0.81		0.19	0.42	0.96	0.93	0.8	0.89	0.77	NSIL
JSWHL	-0.09	0.19		0.49	0.01	-0.07	-0.16	-0.05	-0.12	JSWHL
MAHSCOOTER	0.24	0.42	0.49		0.31	0.3	0.04	0.2	0.2	MAHSCOOTER
KICL	0.79	0.96	0.01	0.31		0.98	0.82	0.88	0.74	KICL
PILANIINVS	0.78	0.93	-0.07	0.3	0.98		0.82	0.83	0.69	PILANIINVS
VHL	0.88	0.8	-0.16	0.04	0.82	0.82		0.89	0.74	VHL
SUMMITSEC	0.87	0.89	-0.05	0.2	0.88	0.83	0.89		0.91	SUMMITSEC
NBIFIN	0.81	0.77	-0.12	0.2	0.74	0.69	0.74	0.91		NBIFIN
	MRF	NSIL	JSWHL	MAHSCOOTER	KICL	PILANIINVS	VHL	SUMMITSEC	NBIFIN

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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

PILANIINVS	+ 0.98	KICL
KICL	+ 0.96	NSIL
PILANIINVS	+ 0.93	NSIL
NBIFIN	+ 0.91	SUMMITSEC
SUMMITSEC	+ 0.89	NSIL
SUMMITSEC	+ 0.89	VHL

High negative correlations

VHL	- 0.16	JSWHL
NBIFIN	- 0.12	JSWHL
JSWHL	- 0.09	MRF
PILANIINVS	- 0.07	JSWHL
SUMMITSEC	- 0.05	JSWHL

Risk-Adjusted Indicators

There is a big difference between Shriram Stock performing well and Shriram Finance 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 Shriram Finance'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
MRF	0.91	(0.25)	0.00	2.00	0.00	0.00	1.88	(2.20)	5.14
NSIL	2.53	(0.28)	0.00	(0.83)	0.00	0.00	4.46	(4.87)	20.20
JSWHL	3.07	0.76	0.26	(2.31)	2.74	(3.58)	5.00	(5.00)	15.25
MAHSCOOTER	1.39	0.27	0.19	1.13	1.33	(1.64)	3.00	(2.20)	6.84
KICL	2.38	(0.50)	0.00	(2.95)	0.00	0.00	4.18	(4.72)	14.72
PILANIINVS	2.16	(0.48)	0.00	(1.02)	0.00	0.00	5.74	(4.09)	12.10
VHL	2.08	(0.39)	0.00	(1.50)	0.00	0.00	3.32	(4.52)	13.99
SUMMITSEC	3.16	(0.60)	0.00	(1.94)	0.00	0.00	6.12	(6.54)	18.53
NBIFIN	2.30	(0.55)	0.00	1.69	0.00	0.00	5.00	(5.00)	10.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shriram Finance 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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