Indian Renewable Correlations
| IREDA Stock | 203.95 1.21 0.59% |
The current 90-days correlation between Indian Renewable Energy and AVALON TECHNOLOGIES LTD is -0.18 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Indian Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Indian Renewable Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Indian Renewable Correlation With Market
Significant diversification
The correlation between Indian Renewable Energy and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indian Renewable Energy and DJI in the same portfolio, assuming nothing else is changed.
Indian |
The ability to find closely correlated positions to Indian Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Indian Renewable 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 Indian Renewable - 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 Indian Renewable Energy to buy it.
Moving together with Indian Stock
| 0.87 | BAJFINANCE | Bajaj Finance Limited | PairCorr |
| 0.79 | IRFC | Indian Railway Finance | PairCorr |
| 0.64 | RECLTD | REC Limited | PairCorr |
| 0.81 | SHRIRAMFIN | Shriram Finance | PairCorr |
| 0.85 | CHOLAFIN | Cholamandalam Investment | PairCorr |
| 0.69 | MUTHOOTFIN | Muthoot Finance | PairCorr |
| 0.83 | SBICARD | SBI Cards | PairCorr |
| 0.89 | QUESS | Quess Corp Limited | PairCorr |
| 0.9 | RELIANCE | Reliance Industries Split | PairCorr |
| 0.88 | SIS | SIS LIMITED | PairCorr |
Moving against Indian Stock
Related Correlations Analysis
| -0.34 | 0.38 | 0.04 | 0.19 | VBL | ||
| -0.34 | -0.27 | -0.36 | 0.33 | PALREDTEC | ||
| 0.38 | -0.27 | -0.31 | 0.45 | UNIDT | ||
| 0.04 | -0.36 | -0.31 | -0.48 | AVALON | ||
| 0.19 | 0.33 | 0.45 | -0.48 | SILVERTUC | ||
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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 Indian Stock performing well and Indian Renewable 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 Indian Renewable'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VBL | 1.82 | 0.12 | (0.02) | (0.21) | 1.95 | 4.61 | 12.12 | |||
| PALREDTEC | 2.84 | 0.07 | (0.02) | (0.29) | 2.96 | 6.08 | 27.40 | |||
| UNIDT | 1.59 | (0.06) | 0.00 | 2.78 | 0.00 | 3.20 | 10.06 | |||
| AVALON | 2.96 | 1.03 | 0.34 | (4.98) | 1.84 | 10.78 | 22.19 | |||
| SILVERTUC | 0.70 | (0.11) | 0.00 | (1.26) | 0.00 | 1.44 | 9.16 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Indian Renewable 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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Indian Renewable Corporate Management
Elected by the shareholders, the Indian Renewable's board of directors comprises two types of representatives: Indian Renewable inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Indian. The board's role is to monitor Indian Renewable's management team and ensure that shareholders' interests are well served. Indian Renewable'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, Indian Renewable's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ekta Madan | Company Affairs | Profile | |
| Surendra Sharma | General Accounts | Profile | |
| Mala Choudhury | General HRM | Profile | |
| Kanchan Bhalla | Chief Services | Profile | |
| Bharat Rajput | Chief II | Profile | |
| Debjani Bhatia | General I | Profile |