Omaxe Correlations

OMAXE Stock

79.94 1.57 1.93%

The current 90-days correlation between Omaxe Limited and Kingfa Science Technology is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Omaxe moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Omaxe Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Omaxe Correlation With Market

Significant diversification

The correlation between Omaxe 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 Omaxe Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Omaxe Stock

0.68	TATAMOTORS	Tata Motors Limited	Pair Corr
0.78	HCLTECH	HCL Technologies	Pair Corr
0.72	INFY	Infosys Limited	Pair Corr

Moving against Omaxe Stock

0.72

UNIVAFOODS

Univa Foods Limited

Pair Corr

Related Correlations Analysis

	ROML	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON
ROML		0.63	0.82	0.56	0.72	0.8	0.7	0.61	-0.43	0.71	ROML
KINGFA	0.63		0.6	0.33	0.85	0.63	0.59	0.38	-0.4	0.47	KINGFA
RICOAUTO	0.82	0.6		0.57	0.7	0.92	0.66	0.71	-0.6	0.77	RICOAUTO
GATECHDVR	0.56	0.33	0.57		0.46	0.6	0.35	0.33	-0.37	0.44	GATECHDVR
COSMOFIRST	0.72	0.85	0.7	0.46		0.77	0.77	0.52	-0.61	0.62	COSMOFIRST
DELTAMAGNT	0.8	0.63	0.92	0.6	0.77		0.8	0.8	-0.74	0.85	DELTAMAGNT
TBZ	0.7	0.59	0.66	0.35	0.77	0.8		0.86	-0.61	0.9	TBZ
PARAGMILK	0.61	0.38	0.71	0.33	0.52	0.8	0.86		-0.62	0.95	PARAGMILK
HEUBACHIND	-0.43	-0.4	-0.6	-0.37	-0.61	-0.74	-0.61	-0.62		-0.63	HEUBACHIND
CHEMCON	0.71	0.47	0.77	0.44	0.62	0.85	0.9	0.95	-0.63		CHEMCON
	ROML	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CHEMCON	+ 0.95	PARAGMILK
DELTAMAGNT	+ 0.92	RICOAUTO
CHEMCON	+ 0.9	TBZ
PARAGMILK	+ 0.86	TBZ
COSMOFIRST	+ 0.85	KINGFA
CHEMCON	+ 0.85	DELTAMAGNT

High negative correlations

HEUBACHIND	- 0.74	DELTAMAGNT
CHEMCON	- 0.63	HEUBACHIND
HEUBACHIND	- 0.62	PARAGMILK
HEUBACHIND	- 0.61	TBZ
HEUBACHIND	- 0.61	COSMOFIRST
HEUBACHIND	- 0.6	RICOAUTO

Risk-Adjusted Indicators

There is a big difference between Omaxe Stock performing well and Omaxe 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 Omaxe'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
ROML	2.50	0.09	0.03	0.13	2.87	(2.76)	4.33	(4.96)	16.50
KINGFA	2.45	0.07	0.02	(0.11)	2.60	(2.87)	6.36	(4.35)	15.46
RICOAUTO	2.34	(0.28)	0.00	(0.66)	0.00	0.00	4.66	(4.47)	27.84
GATECHDVR	1.43	0.06	0.03	(0.57)	1.53	(2.04)	3.41	(2.17)	8.89
COSMOFIRST	2.77	(0.11)	0.00	(3.55)	0.00	0.00	5.20	(5.49)	21.02
DELTAMAGNT	3.11	(0.50)	0.00	(1.30)	0.00	0.00	7.90	(6.20)	23.25
TBZ	2.86	(0.31)	0.00	43.61	0.00	0.00	5.93	(5.63)	16.56
PARAGMILK	1.71	(0.38)	0.00	18.56	0.00	0.00	2.83	(3.95)	10.67
HEUBACHIND	0.44	0.05	0.07	(2.19)	0.52	(0.48)	0.97	(0.62)	5.83
CHEMCON	1.45	(0.17)	0.00	2.49	0.00	0.00	2.27	(3.51)	14.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Omaxe 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 Analysis

View associations between returns expected from investment and the risk you assume

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC