Tube Investments Correlations

TIINDIA Stock

3,409 86.75 2.61%

The current 90-days correlation between Tube Investments and Zota Health Care is 0.28 (i.e., Modest diversification). The correlation of Tube Investments 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.

Tube Investments Correlation With Market

Very good diversification

The correlation between Tube Investments of and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tube Investments of and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tube Stock

0.84

ABMINTLLTD

ABM International

Pair Corr

Moving against Tube Stock

0.72	AMIORG	Ami Organics Limited	Pair Corr
0.59	ITI	ITI Limited	Pair Corr
0.57	KIOCL	KIOCL Limited	Pair Corr
0.55	MANAKCOAT	Manaksia Coated Metals	Pair Corr
0.51	ASALCBR	Associated Alcohols Earnings Call This Week	Pair Corr
0.51	V2RETAIL	V2 Retail Limited	Pair Corr
0.46	MANINFRA	Man Infraconstruction	Pair Corr
0.46	ABDL	Allied Blenders Dist	Pair Corr
0.45	ASIANHOTNR	Asian Hotels Limited	Pair Corr
0.44	CANTABIL	Cantabil Retail India	Pair Corr
0.44	DIXON	Dixon Technologies	Pair Corr
0.43	FSC	Future Supply Chain	Pair Corr

Related Correlations Analysis

	ZOTA	GPTHEALTH	SPECIALITY	TERASOFT	MEDIASSIST	MEDANTA	CAMS	ASTERDM
ZOTA		0.47	-0.8	0.41	0.05	-0.37	0.03	0.47	ZOTA
GPTHEALTH	0.47		-0.42	0.57	0.04	0.41	0.81	0.71	GPTHEALTH
SPECIALITY	-0.8	-0.42		-0.73	0.29	0.16	-0.17	-0.54	SPECIALITY
TERASOFT	0.41	0.57	-0.73		-0.51	0.23	0.5	0.51	TERASOFT
MEDIASSIST	0.05	0.04	0.29	-0.51		-0.06	-0.07	-0.07	MEDIASSIST
MEDANTA	-0.37	0.41	0.16	0.23	-0.06		0.67	0.25	MEDANTA
CAMS	0.03	0.81	-0.17	0.5	-0.07	0.67		0.6	CAMS
ASTERDM	0.47	0.71	-0.54	0.51	-0.07	0.25	0.6		ASTERDM
	ZOTA	GPTHEALTH	SPECIALITY	TERASOFT	MEDIASSIST	MEDANTA	CAMS	ASTERDM

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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

CAMS	+ 0.81	GPTHEALTH
ASTERDM	+ 0.71	GPTHEALTH
CAMS	+ 0.67	MEDANTA
ASTERDM	+ 0.6	CAMS
TERASOFT	+ 0.57	GPTHEALTH
ASTERDM	+ 0.51	TERASOFT

High negative correlations

SPECIALITY	- 0.8	ZOTA
TERASOFT	- 0.73	SPECIALITY
ASTERDM	- 0.54	SPECIALITY
MEDIASSIST	- 0.51	TERASOFT
SPECIALITY	- 0.42	GPTHEALTH
MEDANTA	- 0.37	ZOTA

Risk-Adjusted Indicators

There is a big difference between Tube Stock performing well and Tube Investments 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 Tube Investments' 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
ZOTA	2.36	0.87	0.35	(32.89)	1.72	(2.81)	5.83	(2.86)	21.01
GPTHEALTH	1.46	0.12	0.06	0.27	1.77	(1.60)	3.47	(2.90)	9.43
SPECIALITY	1.29	(0.29)	0.00	(0.34)	0.00	0.00	2.13	(2.61)	12.22
TERASOFT	3.64	1.68	0.49	2.25	2.69	(4.82)	10.00	(3.45)	24.93
MEDIASSIST	1.59	(0.06)	0.00	(0.40)	0.00	0.00	3.61	(3.64)	11.49
MEDANTA	1.29	(0.04)	0.00	(0.21)	0.00	0.00	2.48	(2.67)	8.07
CAMS	1.71	(0.06)	0.00	(0.35)	0.00	0.00	3.53	(4.11)	9.87
ASTERDM	1.36	0.25	0.13	(2.66)	1.39	(1.48)	2.30	(2.25)	12.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tube Investments 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.

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