Paradeep Phosphates Correlations

PARADEEP

179.09 1.94 1.10%

The current 90-days correlation between Paradeep Phosphates and Indian Metals Ferro is -0.08 (i.e., Good diversification). The correlation of Paradeep Phosphates 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.

Paradeep Phosphates Correlation With Market

Good diversification

The correlation between Paradeep Phosphates Limited and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paradeep Phosphates Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Paradeep Stock

0.89	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.83	DATAMATICS	Datamatics Global	Pair Corr

Moving against Paradeep Stock

0.84	MAITHANALL	Maithan Alloys	Pair Corr
0.81	SAIL	Steel Authority	Pair Corr
0.66	GRANULES	Granules India	Pair Corr
0.58	GUJALKALI	Gujarat Alkalies	Pair Corr
0.57	HITECH	Hi Tech Pipes	Pair Corr
0.52	JSWENERGY	JSW Energy Limited	Pair Corr
0.52	SILINV	SIL Investments	Pair Corr
0.5	RELIANCE	Reliance Industries	Pair Corr
0.49	INDIAGLYCO	India Glycols Limited Split	Pair Corr
0.48	SBIN	State Bank	Pair Corr
0.45	EMBASSY-RR	Embassy Office Parks	Pair Corr
0.44	SUBROS	Subros Limited	Pair Corr
0.39	CMICABLES	CMI Limited	Pair Corr
0.38	IMFA	Indian Metals Ferro	Pair Corr
0.33	DIGISPICE	DiGiSPICE Technologies	Pair Corr
0.32	BAJAJ-AUTO	Bajaj Auto Limited	Pair Corr
0.31	LICI	Life InsuranceOf	Pair Corr
0.7	IOC	Indian OilLimited	Pair Corr
0.67	THEMISMED	Themis Medicare	Pair Corr
0.62	AMDIND	AMD Industries	Pair Corr
0.62	TBOTEK	TBO Tek	Pair Corr
0.59	AXISCADES	AXISCADES Technologies	Pair Corr
0.56	NAM-INDIA	Nippon Life India Earnings Call This Week	Pair Corr
0.56	SCI	ShippingOf India	Pair Corr
0.53	CCCL	Consolidated Construction	Pair Corr

Related Correlations Analysis

	SANGINITA	IMFA	HILTON	TOTAL	ESILVER	DHARSUGAR	MANAKCOAT	ANKITMETAL
SANGINITA		-0.02	0.19	0.43	0.16	0.0	-0.07	0.44	SANGINITA
IMFA	-0.02		-0.83	-0.7	0.91	0.0	-0.38	0.08	IMFA
HILTON	0.19	-0.83		0.8	-0.85	0.0	0.17	0.17	HILTON
TOTAL	0.43	-0.7	0.8		-0.58	0.0	0.16	0.29	TOTAL
ESILVER	0.16	0.91	-0.85	-0.58		0.0	-0.24	0.09	ESILVER
DHARSUGAR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	DHARSUGAR
MANAKCOAT	-0.07	-0.38	0.17	0.16	-0.24	0.0		-0.23	MANAKCOAT
ANKITMETAL	0.44	0.08	0.17	0.29	0.09	0.0	-0.23		ANKITMETAL
	SANGINITA	IMFA	HILTON	TOTAL	ESILVER	DHARSUGAR	MANAKCOAT	ANKITMETAL

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

ESILVER	+ 0.91	IMFA
TOTAL	+ 0.8	HILTON
ANKITMETAL	+ 0.44	SANGINITA
TOTAL	+ 0.43	SANGINITA
ANKITMETAL	+ 0.29	TOTAL
HILTON	+ 0.19	SANGINITA

High negative correlations

ESILVER	- 0.85	HILTON
HILTON	- 0.83	IMFA
TOTAL	- 0.7	IMFA
ESILVER	- 0.58	TOTAL
MANAKCOAT	- 0.38	IMFA
MANAKCOAT	- 0.24	ESILVER

Risk-Adjusted Indicators

There is a big difference between Paradeep Stock performing well and Paradeep Phosphates 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 Paradeep Phosphates' 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
SANGINITA	1.33	(0.01)	0.00	0.08	0.00	0.00	2.15	(3.38)	14.78
IMFA	1.81	0.77	0.45	22.05	1.03	(2.38)	5.87	(2.93)	11.15
HILTON	1.44	(0.76)	0.00	(1.17)	0.00	0.00	3.01	(4.10)	9.80
TOTAL	1.61	(0.15)	0.00	0.40	0.00	0.00	3.65	(3.58)	11.91
ESILVER	1.31	0.66	0.54	1.18	0.42	(1.66)	3.90	(1.93)	6.74
DHARSUGAR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MANAKCOAT	2.40	0.32	0.13	0.68	2.14	(3.17)	6.68	(3.92)	15.90
ANKITMETAL	1.74	(0.10)	0.00	(1.29)	0.00	0.00	2.78	(4.12)	10.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Paradeep Phosphates 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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Paradeep Phosphates Corporate Management

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

Pranab Bhattacharyya	Chief Plant	Profile
Rajneesh Bhardwaj	Chief Officer	Profile
Raj Gupta	Chief Officer	Profile
Milind Akerkar	Chief Distbn	Profile
Alok Saxena	Head Relations	Profile
Anil Tiwari	General Commercial	Profile

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