Shaily Engineering Correlations
| SHAILY Stock | 1,496 21.00 1.38% |
The current 90-days correlation between Shaily Engineering and Network18 Media Investments is 0.36 (i.e., Weak diversification). The correlation of Shaily Engineering 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.
Shaily Engineering Correlation With Market
Modest diversification
The correlation between Shaily Engineering Plastics and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shaily Engineering Plastics and DJI in the same portfolio, assuming nothing else is changed.
Shaily |
The ability to find closely correlated positions to Shaily Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shaily Engineering 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 Shaily Engineering - 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 Shaily Engineering Plastics to buy it.
Moving together with Shaily Stock
| 0.88 | IMFA | Indian Metals Ferro | PairCorr |
| 0.89 | MANINFRA | Man Infraconstruction | PairCorr |
| 0.89 | ABDL | Allied Blenders Dist | PairCorr |
| 0.73 | ASIANHOTNR | Asian Hotels Limited | PairCorr |
| 0.69 | UNIDT | United Drilling Tools | PairCorr |
| 0.94 | MANAKCOAT | Manaksia Coated Metals | PairCorr |
| 0.8 | CANTABIL | Cantabil Retail India | PairCorr |
| 0.77 | DATAMATICS | Datamatics Global Earnings Call This Week | PairCorr |
| 0.86 | DIXON | Dixon Technologies | PairCorr |
| 0.84 | V2RETAIL | V2 Retail Limited | PairCorr |
| 0.92 | ASALCBR | Associated Alcohols Earnings Call This Week | PairCorr |
| 0.88 | ITI | ITI Limited | PairCorr |
Moving against Shaily Stock
| 0.77 | GUJALKALI | Gujarat Alkalies | PairCorr |
| 0.74 | EMBASSY-RR | Embassy Office Parks | PairCorr |
| 0.65 | IOC | Indian Oil Earnings Call This Week | PairCorr |
| 0.56 | ABMINTLLTD | ABM International | PairCorr |
| 0.52 | SUZLON | Suzlon Energy Limited | PairCorr |
| 0.5 | GNFC | Gujarat Narmada Valley | PairCorr |
| 0.32 | YESBANK | Yes Bank Limited Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.76 | 0.84 | -0.31 | 0.76 | -0.26 | 0.58 | VERTOZ | ||
| 0.76 | 0.76 | 0.01 | 0.44 | 0.08 | 0.24 | NETWORK18 | ||
| 0.84 | 0.76 | -0.22 | 0.71 | -0.02 | 0.46 | HINDCOPPER | ||
| -0.31 | 0.01 | -0.22 | -0.61 | 0.86 | -0.31 | NSIL | ||
| 0.76 | 0.44 | 0.71 | -0.61 | -0.51 | 0.71 | SMLT | ||
| -0.26 | 0.08 | -0.02 | 0.86 | -0.51 | -0.28 | JPOLYINVST | ||
| 0.58 | 0.24 | 0.46 | -0.31 | 0.71 | -0.28 | YATRA | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between Shaily Stock performing well and Shaily Engineering 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 Shaily Engineering'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VERTOZ | 2.56 | (0.65) | 0.00 | (3.17) | 0.00 | 4.87 | 16.44 | |||
| NETWORK18 | 2.05 | (0.62) | 0.00 | 2.66 | 0.00 | 4.01 | 15.75 | |||
| HINDCOPPER | 1.86 | (0.37) | 0.00 | (1.25) | 0.00 | 4.75 | 12.92 | |||
| NSIL | 3.70 | 0.49 | 0.11 | (0.83) | 3.62 | 10.57 | 21.64 | |||
| SMLT | 2.09 | (0.34) | 0.00 | 1.60 | 0.00 | 4.55 | 14.37 | |||
| JPOLYINVST | 2.33 | 0.02 | 0.00 | (0.18) | 2.50 | 5.88 | 26.95 | |||
| YATRA | 1.78 | (0.20) | 0.00 | (1.53) | 0.00 | 2.95 | 14.16 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Shaily Engineering 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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Portfolio RebalancingAnalyze risk-adjusted returns against different time horizons to find asset-allocation targets |
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Shaily Engineering Corporate Management
Elected by the shareholders, the Shaily Engineering's board of directors comprises two types of representatives: Shaily Engineering inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shaily. The board's role is to monitor Shaily Engineering's management team and ensure that shareholders' interests are well served. Shaily Engineering'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, Shaily Engineering's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sanjay Shah | VP Officer | Profile | |
| Dimple Mehta | Company Officer | Profile | |
| M Sanghvi | Head Compliance | Profile | |
| Paresh Jain | Chief Officer | Profile |