Southern Petrochemicals Correlations

SPIC Stock

74.08 2.23 2.92%

The current 90-days correlation between Southern Petrochemicals and Embassy Office Parks is 0.28 (i.e., Modest diversification). The correlation of Southern Petrochemicals 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.

Southern Petrochemicals Correlation With Market

Modest diversification

The correlation between Southern Petrochemicals Indust and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Petrochemicals Indust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Southern Stock

0.82	SAIL	Steel Authority	Pair Corr
0.84	GNFC	Gujarat Narmada Valley	Pair Corr
0.77	JTLIND	JTL Industries Split	Pair Corr
0.84	VENUSPIPES	Venus Pipes Tubes	Pair Corr

Moving against Southern Stock

0.76	JSWHL	JSW Holdings Limited	Pair Corr
0.56	PILANIINVS	Pilani Investment	Pair Corr
0.47	IMFA	Indian Metals Ferro	Pair Corr
0.44	INDHOTEL	Indian Hotels	Pair Corr
0.42	PAGEIND	Page Industries	Pair Corr
0.33	HDFCBANK	HDFC Bank Limited	Pair Corr
0.71	IITL	Industrial Investment	Pair Corr
0.71	INTERARCH	Interarch Building	Pair Corr
0.63	RAINBOW	Rainbow Childrens	Pair Corr
0.63	SUMMITSEC	Summit Securities	Pair Corr
0.56	GRWRHITECH	Garware Hi Tech	Pair Corr
0.53	FORTIS	Fortis Healthcare	Pair Corr
0.41	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.38	GILLETTE	Gillette India	Pair Corr

Related Correlations Analysis

	NMDC	SAIL	EMBASSY-RR	GNFC	GUJALKALI	IMFA	JTLIND	INDIAGLYCO	VENUSPIPES
NMDC		0.41	0.01	0.34	0.15	0.31	-0.08	0.38	-0.07	NMDC
SAIL	0.41		0.36	0.85	0.36	-0.24	0.62	0.55	0.66	SAIL
EMBASSY-RR	0.01	0.36		0.45	0.75	-0.82	0.8	-0.07	0.74	EMBASSY-RR
GNFC	0.34	0.85	0.45		0.52	-0.32	0.67	0.47	0.68	GNFC
GUJALKALI	0.15	0.36	0.75	0.52		-0.63	0.76	0.21	0.58	GUJALKALI
IMFA	0.31	-0.24	-0.82	-0.32	-0.63		-0.83	0.32	-0.77	IMFA
JTLIND	-0.08	0.62	0.8	0.67	0.76	-0.83		0.13	0.87	JTLIND
INDIAGLYCO	0.38	0.55	-0.07	0.47	0.21	0.32	0.13		0.0	INDIAGLYCO
VENUSPIPES	-0.07	0.66	0.74	0.68	0.58	-0.77	0.87	0.0		VENUSPIPES
	NMDC	SAIL	EMBASSY-RR	GNFC	GUJALKALI	IMFA	JTLIND	INDIAGLYCO	VENUSPIPES

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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

VENUSPIPES	+ 0.87	JTLIND
GNFC	+ 0.85	SAIL
JTLIND	+ 0.8	EMBASSY-RR
JTLIND	+ 0.76	GUJALKALI
GUJALKALI	+ 0.75	EMBASSY-RR
VENUSPIPES	+ 0.74	EMBASSY-RR

High negative correlations

JTLIND	- 0.83	IMFA
IMFA	- 0.82	EMBASSY-RR
VENUSPIPES	- 0.77	IMFA
IMFA	- 0.63	GUJALKALI
IMFA	- 0.32	GNFC
IMFA	- 0.24	SAIL

Risk-Adjusted Indicators

There is a big difference between Southern Stock performing well and Southern Petrochemicals 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 Southern Petrochemicals' 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
JTLIND	2.78	(0.99)	0.00	(14.89)	0.00	0.00	3.60	(4.83)	60.24
INDIAGLYCO	2.48	0.17	0.05	0.28	2.71	(2.74)	5.48	(4.42)	23.17
VENUSPIPES	1.49	(0.50)	0.00	(0.92)	0.00	0.00	2.92	(3.84)	16.09

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Our tools can tell you how much better you can do entering a position in Southern Petrochemicals 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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Southern Petrochemicals Corporate Management

Elected by the shareholders, the Southern Petrochemicals' board of directors comprises two types of representatives: Southern Petrochemicals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Southern. The board's role is to monitor Southern Petrochemicals' management team and ensure that shareholders' interests are well served. Southern Petrochemicals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Southern Petrochemicals' outside directors are responsible for providing unbiased perspectives on the board's policies.

Gopalakrishnan	Vice Affairs	Profile
P Shanmugam	Deputy Maintenance	Profile
Madras Ganesh	Compliance Secretary	Profile
P Nayagam	General Works	Profile
D Prembabu	Assistant Manager	Profile
Venkata Krishnan	General Legal	Profile

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