VA Tech Correlations

WABAG Stock

1,692 3.30 0.20%

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

VA Tech Correlation With Market

Good diversification

The correlation between VA Tech Wabag and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VA Tech Wabag and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against WABAG Stock

0.88	TATAMOTORS	Tata Motors Limited	Pair Corr
0.85	RELIANCE	Reliance Industries Split	Pair Corr
0.66	ONGC	Oil Natural Gas	Pair Corr
0.55	INFY	Infosys Limited	Pair Corr
0.37	POLICYBZR	PB Fintech Limited	Pair Corr

Related Correlations Analysis

	TCS	QUESS	RELIANCE	INFY	SIS	WIPRO	SBIN
TCS		0.51	0.76	0.71	0.32	-0.1	-0.2	TCS
QUESS	0.51		0.79	0.3	0.9	-0.69	-0.39	QUESS
RELIANCE	0.76	0.79		0.47	0.68	-0.41	-0.35	RELIANCE
INFY	0.71	0.3	0.47		0.24	-0.26	-0.3	INFY
SIS	0.32	0.9	0.68	0.24		-0.68	-0.4	SIS
WIPRO	-0.1	-0.69	-0.41	-0.26	-0.68		0.55	WIPRO
SBIN	-0.2	-0.39	-0.35	-0.3	-0.4	0.55		SBIN
	TCS	QUESS	RELIANCE	INFY	SIS	WIPRO	SBIN

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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

SIS	+ 0.9	QUESS
RELIANCE	+ 0.79	QUESS
RELIANCE	+ 0.76	TCS
INFY	+ 0.71	TCS
SIS	+ 0.68	RELIANCE
SBIN	+ 0.55	WIPRO

High negative correlations

WIPRO	- 0.69	QUESS
WIPRO	- 0.68	SIS
WIPRO	- 0.41	RELIANCE
SBIN	- 0.4	SIS
SBIN	- 0.39	QUESS
SBIN	- 0.35	RELIANCE

Risk-Adjusted Indicators

There is a big difference between WABAG Stock performing well and VA Tech 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 VA Tech'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
TCS	0.77	(0.06)	0.00	(1.22)	0.00	0.00	1.31	(1.85)	7.29
QUESS	2.01	(0.17)	0.00	(4.56)	0.00	0.00	3.36	(4.07)	13.63
RELIANCE	0.94	(0.24)	0.00	(3.95)	0.00	0.00	1.67	(2.07)	5.53
INFY	0.99	(0.02)	(0.07)	0.01	1.60	(0.88)	2.11	(2.49)	7.00
SIS	1.04	(0.09)	0.00	0.70	0.00	0.00	2.08	(2.14)	6.16
WIPRO	1.21	0.16	0.01	(0.52)	1.31	(1.43)	3.60	(2.44)	7.48
SBIN	1.18	0.01	(0.05)	0.13	1.59	(1.19)	2.58	(2.77)	7.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in VA Tech 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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VA Tech Corporate Management

Elected by the shareholders, the VA Tech's board of directors comprises two types of representatives: VA Tech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of WABAG. The board's role is to monitor VA Tech's management team and ensure that shareholders' interests are well served. VA Tech'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, VA Tech's outside directors are responsible for providing unbiased perspectives on the board's policies.

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