Paras Defence Correlations
| PARAS Stock | 693.60 6.50 0.93% |
The current 90-days correlation between Paras Defence and Vodafone Idea Limited is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Paras Defence moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Paras Defence and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Paras Defence Correlation With Market
Average diversification
The correlation between Paras Defence and and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paras Defence and and DJI in the same portfolio, assuming nothing else is changed.
Paras |
The ability to find closely correlated positions to Paras Defence could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Paras Defence 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 Paras Defence - 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 Paras Defence and to buy it.
Moving together with Paras Stock
| 0.71 | PNB | Punjab National Bank | PairCorr |
| 0.67 | POLYCAB | Polycab India Limited | PairCorr |
| 0.62 | EQUAL200 | EQUAL200 | PairCorr |
| 0.7 | HCC | Hindustan Construction | PairCorr |
| 0.74 | CHOLAFIN | Cholamandalam Investment Earnings Call Tomorrow | PairCorr |
| 0.78 | JAYNECOIND | Jayaswal Neco Industries | PairCorr |
| 0.69 | CGPOWER | CG Power | PairCorr |
| 0.63 | BAJFINANCE | Bajaj Finance Limited Earnings Call This Week | PairCorr |
| 0.81 | CCCL | Consolidated Construction | PairCorr |
| 0.65 | INOXGREEN | Inox Green Energy | PairCorr |
| 0.66 | ORIENTTECH | Orient Technologies | PairCorr |
Moving against Paras Stock
| 0.55 | ABBOTINDIA | Abbott India Limited Earnings Call Tomorrow | PairCorr |
| 0.43 | PAGEIND | Page Industries Earnings Call Next Week | PairCorr |
| 0.38 | BAJAJHLDNG | Bajaj Holdings Investment Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.71 | 0.14 | 0.73 | 0.3 | 0.63 | IDEA | ||
| 0.71 | 0.07 | 0.68 | -0.02 | 0.3 | YESBANK | ||
| 0.14 | 0.07 | 0.12 | 0.12 | 0.06 | ADANIPOWER | ||
| 0.73 | 0.68 | 0.12 | -0.06 | 0.26 | IOB | ||
| 0.3 | -0.02 | 0.12 | -0.06 | 0.51 | HDFCBANK | ||
| 0.63 | 0.3 | 0.06 | 0.26 | 0.51 | IOC | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Paras Stock performing well and Paras Defence 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 Paras Defence'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IDEA | 2.92 | 0.67 | 0.14 | (1.00) | 3.18 | 7.94 | 17.26 | |||
| YESBANK | 1.05 | 0.33 | 0.15 | (14.09) | 1.05 | 2.36 | 10.81 | |||
| ADANIPOWER | 13.39 | 5.58 | 0.37 | 4.02 | 10.51 | 5.47 | 479.90 | |||
| IOB | 1.20 | 0.14 | 0.03 | 1.19 | 1.28 | 2.91 | 6.99 | |||
| HDFCBANK | 0.57 | (0.06) | 0.00 | (0.40) | 0.00 | 1.01 | 2.74 | |||
| IOC | 0.89 | 0.30 | 0.26 | 3.09 | 0.49 | 2.83 | 5.43 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Paras Defence 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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Paras Defence Corporate Management
Elected by the shareholders, the Paras Defence's board of directors comprises two types of representatives: Paras Defence inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Paras. The board's role is to monitor Paras Defence's management team and ensure that shareholders' interests are well served. Paras Defence'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, Paras Defence's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sarvanan MTech | Senior Integration | Profile | |
| Ajit Sharma | Company Officer | Profile | |
| Saravanan MTech | Senior Integration | Profile | |
| Amit Mahajan | RD Technical | Profile | |
| Bharat Yelkur | Senior Development | Profile |