Deepak Nitrite Correlations
| DEEPAKNTR | 2,706 14.90 0.55% |
The current 90-days correlation between Deepak Nitrite and NMDC Limited is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Deepak Nitrite moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Deepak Nitrite Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Deepak Nitrite Correlation With Market
Significant diversification
The correlation between Deepak Nitrite Limited and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deepak Nitrite Limited and DJI in the same portfolio, assuming nothing else is changed.
Deepak |
The ability to find closely correlated positions to Deepak Nitrite could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Deepak Nitrite 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 Deepak Nitrite - 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 Deepak Nitrite Limited to buy it.
Moving together with Deepak Stock
| 0.82 | SAIL | Steel Authority | PairCorr |
| 0.87 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.78 | JTLIND | JTL Industries Split | PairCorr |
| 0.64 | IRFC | Indian Railway Finance | PairCorr |
| 0.78 | RELIANCE | Reliance Industries Split | PairCorr |
| 0.65 | TCS | Tata Consultancy Services | PairCorr |
Moving against Deepak Stock
Related Correlations Analysis
| 0.17 | 0.1 | -0.07 | -0.09 | NMDC | ||
| 0.17 | 0.23 | 0.87 | 0.8 | SAIL | ||
| 0.1 | 0.23 | 0.33 | 0.51 | EMBASSY-RR | ||
| -0.07 | 0.87 | 0.33 | 0.88 | GNFC | ||
| -0.09 | 0.8 | 0.51 | 0.88 | JTLIND | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Deepak Stock performing well and Deepak Nitrite 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 Deepak Nitrite'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 | 1.70 | (0.04) | (0.05) | 0.03 | 1.89 | 3.96 | 8.71 | |||
| SAIL | 1.55 | (0.28) | 0.00 | (0.89) | 0.00 | 3.24 | 8.70 | |||
| EMBASSY-RR | 0.79 | 0.02 | (0.09) | (0.11) | 1.08 | 1.56 | 4.80 | |||
| GNFC | 1.43 | (0.14) | 0.00 | (11.05) | 0.00 | 2.45 | 11.02 | |||
| JTLIND | 2.78 | (0.91) | 0.00 | 1.62 | 0.00 | 3.62 | 60.24 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Deepak Nitrite 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?
Run Risk-Return Analysis Now
Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
| All Next | Launch Module |
Deepak Nitrite Corporate Management
Elected by the shareholders, the Deepak Nitrite's board of directors comprises two types of representatives: Deepak Nitrite inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Deepak. The board's role is to monitor Deepak Nitrite's management team and ensure that shareholders' interests are well served. Deepak Nitrite'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, Deepak Nitrite's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Somsekhar Nanda | Treasury Fin | Profile | |
| Arvind Bajpai | Company Officer | Profile | |
| Jaydip Chowdhury | Head Communications | Profile | |
| Prashant Rao | Vice Resource | Profile |