AksharChem India Correlations
| AKSHARCHEM | 294.10 1.85 0.63% |
The current 90-days correlation between AksharChem India and NMDC Limited is 0.03 (i.e., Significant diversification). The correlation of AksharChem India 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.
AksharChem India Correlation With Market
Average diversification
The correlation between AksharChem India Limited and DJI 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 AksharChem India Limited and DJI in the same portfolio, assuming nothing else is changed.
AksharChem |
The ability to find closely correlated positions to AksharChem India could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AksharChem India 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 AksharChem India - 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 AksharChem India Limited to buy it.
Moving together with AksharChem Stock
| 0.65 | SAIL | Steel Authority | PairCorr |
| 0.71 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.63 | MAITHANALL | Maithan Alloys | PairCorr |
| 0.82 | RELIANCE | Reliance Industries Split | PairCorr |
| 0.85 | TCS | Tata Consultancy Services | PairCorr |
| 0.81 | PFC | Power Finance | PairCorr |
Moving against AksharChem Stock
| 0.57 | HDFCBANK | HDFC Bank Limited | PairCorr |
| 0.44 | IMFA | Indian Metals Ferro | PairCorr |
| 0.37 | ICICIBANK | ICICI Bank Limited | PairCorr |
| 0.34 | NMDC | NMDC Limited | PairCorr |
| 0.31 | GUJALKALI | Gujarat Alkalies | PairCorr |
Related Correlations Analysis
| 0.2 | 0.16 | 0.29 | 0.41 | -0.12 | NMDC | ||
| 0.2 | 0.04 | -0.03 | -0.42 | 0.76 | SAIL | ||
| 0.16 | 0.04 | 0.7 | -0.44 | 0.24 | EMBASSY-RR | ||
| 0.29 | -0.03 | 0.7 | -0.26 | 0.21 | GUJALKALI | ||
| 0.41 | -0.42 | -0.44 | -0.26 | -0.8 | IMFA | ||
| -0.12 | 0.76 | 0.24 | 0.21 | -0.8 | JTLIND | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between AksharChem Stock performing well and AksharChem India 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 AksharChem India'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NMDC | 1.77 | (0.03) | (0.06) | (0.01) | 1.93 | 3.96 | 8.71 | |||
| SAIL | 1.63 | (0.22) | 0.00 | 3.71 | 0.00 | 3.70 | 10.24 | |||
| EMBASSY-RR | 0.83 | (0.05) | 0.00 | (0.09) | 0.00 | 1.56 | 4.80 | |||
| GUJALKALI | 1.34 | 0.01 | 0.00 | 0.07 | 0.00 | 3.52 | 10.86 | |||
| IMFA | 1.81 | 0.34 | 0.11 | (6.31) | 1.68 | 4.96 | 11.39 | |||
| JTLIND | 2.81 | (0.85) | 0.00 | 1.48 | 0.00 | 4.00 | 60.24 |
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AksharChem India Corporate Management
Elected by the shareholders, the AksharChem India's board of directors comprises two types of representatives: AksharChem India inside directors who are chosen from within the company, and outside directors, selected externally and held independent of AksharChem. The board's role is to monitor AksharChem India's management team and ensure that shareholders' interests are well served. AksharChem India'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, AksharChem India's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Dakshesh Patel | General Marketing | Profile | |
| Maheshkumar Patel | Vice Project | Profile | |
| Meet Joshi | Company Officer | Profile | |
| Namrata Jaykrishna | Marketing Manager | Profile | |
| Bincy Mathew | General Admin | Profile | |
| Hardik Shah | Chief Officer | Profile |