Roadzen Correlations
| RDZN Stock | 4.95 0.11 2.27% |
The correlation of Roadzen 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Roadzen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Roadzen moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Roadzen and NYA is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roadzen and NYA in the same portfolio, assuming nothing else is changed.
Roadzen |
The ability to find closely correlated positions to Roadzen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Roadzen 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 Roadzen - 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 Roadzen to buy it.
Moving together with Roadzen Stock
| 0.63 | AI | C3 Ai Inc Financial Report 29th of May 2024 | PairCorr |
| 0.61 | VS | Versus Systems Financial Report 20th of May 2024 | PairCorr |
Moving against Roadzen Stock
| 0.59 | DTRK | DATATRAK International | PairCorr |
| 0.42 | DOCU | DocuSign Financial Report 13th of June 2024 | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Roadzen Stock performing well and Roadzen 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 Roadzen'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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Roadzen 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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Roadzen Corporate Management
Elected by the shareholders, the Roadzen's board of directors comprises two types of representatives: Roadzen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Roadzen. The board's role is to monitor Roadzen's management team and ensure that shareholders' interests are well served. Roadzen'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, Roadzen's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ankur Kamboj | Chief Officer | Profile | |
| Bruce Goldberg | General Counsel | Profile | |
| Xavier Blanchard | Global Insurance | Profile | |
| JeanNoel Gallardo | Chief Officer | Profile | |
| Sanya Soni | Chief Staff | Profile |
Already Invested in Roadzen?
The danger of trading Roadzen is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Roadzen is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Roadzen. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Roadzen is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Roadzen is a strong investment it is important to analyze Roadzen's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Roadzen's future performance. For an informed investment choice regarding Roadzen Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Roadzen. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. To learn how to invest in Roadzen Stock, please use our How to Invest in Roadzen guide.Note that the Roadzen information on this page should be used as a complementary analysis to other Roadzen's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Complementary Tools for Roadzen Stock analysis
When running Roadzen's price analysis, check to measure Roadzen's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Roadzen is operating at the current time. Most of Roadzen's value examination focuses on studying past and present price action to predict the probability of Roadzen's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Roadzen's price. Additionally, you may evaluate how the addition of Roadzen to your portfolios can decrease your overall portfolio volatility.
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Is Roadzen's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Roadzen. If investors know Roadzen will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Roadzen listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Roadzen is measured differently than its book value, which is the value of Roadzen that is recorded on the company's balance sheet. Investors also form their own opinion of Roadzen's value that differs from its market value or its book value, called intrinsic value, which is Roadzen's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Roadzen's market value can be influenced by many factors that don't directly affect Roadzen's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Roadzen's value and its price as these two are different measures arrived at by different means. Investors typically determine if Roadzen is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Roadzen's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.