Indus Gas Correlations

59Q Stock

EUR 0.02 0.00 0.00%

The correlation of Indus Gas 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.

Indus Gas Correlation With Market

Excellent diversification

The correlation between Indus Gas and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indus Gas and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Indus Stock

0.91	SSU	Samsung Electronics	Pair Corr
0.91	SSUN	Samsung Electronics	Pair Corr
0.9	SSUN	Samsung Electronics	Pair Corr
0.9	SSU	Samsung Electronics	Pair Corr
0.9	ECHA	Ecopetrol SA	Pair Corr
0.75	AM8	AMAG Austria Metall	Pair Corr
0.61	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.56	TUI1	TUI AG Earnings Call This Week	Pair Corr
0.55	GE9	Genmab A/S	Pair Corr
0.54	HHX	HAMMONIA Schiffsholding	Pair Corr
0.85	WDC	WESTERN DIGITAL	Pair Corr
0.83	2VZ	LEONARDO DRS INC	Pair Corr
0.8	YBB	CARNAVALE RES Split	Pair Corr
0.8	LIN	Linde plc Earnings Call Tomorrow	Pair Corr
0.78	943	FREY EO 250	Pair Corr
0.76	SEBA	S E BANKEN	Pair Corr
0.74	FJZB	ZIJIN MINH UNSPADR20	Pair Corr
0.72	3RB	Reckitt Benckiser Split	Pair Corr
0.71	ENI	Eni SpA	Pair Corr
0.68	UUEC	UNITED UTILITIES	Pair Corr
0.68	TJW	Scientific Games	Pair Corr
0.62	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.52	MEL	Meli Hotels International	Pair Corr
0.44	5P8	Blue Foundry Bancorp Earnings Call Tomorrow	Pair Corr
0.43	HVH	NAVIGATOR GLOB	Pair Corr
0.89	PKE	Park Aerospace Corp	Pair Corr
0.88	IHF	Safestore Holdings plc	Pair Corr
0.87	GZF	Engie SA	Pair Corr
0.76	CIAH	CN EASTERN AIR	Pair Corr
0.76	2OJ	Roscan Gold	Pair Corr
0.72	0VQ	PURETECH HEALTH PLC	Pair Corr
0.67	B2W	BORR DRILLING NEW	Pair Corr
0.58	V8M0	Prophecy DeFi Split	Pair Corr

Related Correlations Analysis

	8ZI	NRSA	CN6	CUW	JAT	06S	QV5	NNR
8ZI		0.63	-0.72	0.56	0.49	-0.82	0.24	0.78	8ZI
NRSA	0.63		-0.35	0.46	0.07	-0.54	0.28	0.58	NRSA
CN6	-0.72	-0.35		-0.53	-0.75	0.84	-0.06	-0.85	CN6
CUW	0.56	0.46	-0.53		0.49	-0.51	-0.3	0.64	CUW
JAT	0.49	0.07	-0.75	0.49		-0.58	-0.03	0.63	JAT
06S	-0.82	-0.54	0.84	-0.51	-0.58		-0.21	-0.79	06S
QV5	0.24	0.28	-0.06	-0.3	-0.03	-0.21		0.1	QV5
NNR	0.78	0.58	-0.85	0.64	0.63	-0.79	0.1		NNR
	8ZI	NRSA	CN6	CUW	JAT	06S	QV5	NNR

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

06S	+ 0.84	CN6
NNR	+ 0.78	8ZI
NNR	+ 0.64	CUW
NRSA	+ 0.63	8ZI
NNR	+ 0.63	JAT
NNR	+ 0.58	NRSA

High negative correlations

NNR	- 0.85	CN6
06S	- 0.82	8ZI
NNR	- 0.79	06S
JAT	- 0.75	CN6
CN6	- 0.72	8ZI
06S	- 0.58	JAT

Risk-Adjusted Indicators

There is a big difference between Indus Stock performing well and Indus Gas 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 Indus Gas' 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
8ZI	1.16	0.22	0.12	(2.47)	1.11	(1.50)	2.96	(2.03)	6.93
NRSA	1.48	0.00	(0.01)	0.05	1.93	(1.84)	3.52	(2.92)	13.35
CN6	1.05	(0.14)	0.00	0.60	0.00	0.00	1.64	(1.59)	4.79
CUW	0.83	(0.02)	0.00	(0.07)	0.00	0.00	2.54	(3.43)	8.48
JAT	1.10	0.18	0.10	10.57	1.20	(1.10)	2.48	(1.81)	7.58
06S	3.20	(0.93)	0.00	2.06	0.00	0.00	5.36	(5.88)	27.31
QV5	2.98	0.23	0.04	(2.37)	3.62	(4.17)	6.92	(6.67)	22.51
NNR	1.15	0.26	0.14	(0.47)	0.92	(1.77)	2.19	(1.91)	13.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Indus Gas 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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