Zenith Steel Correlations
| ZENITHSTL | 9.04 0.03 0.33% |
The current 90-days correlation between Zenith Steel Pipes and NMDC Limited is -0.02 (i.e., Good diversification). The correlation of Zenith Steel 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Zenith Steel Correlation With Market
Significant diversification
The correlation between Zenith Steel Pipes 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 Zenith Steel Pipes and DJI in the same portfolio, assuming nothing else is changed.
Zenith |
The ability to find closely correlated positions to Zenith Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zenith Steel 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 Zenith Steel - 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 Zenith Steel Pipes to buy it.
Moving together with Zenith Stock
Moving against Zenith Stock
Related Correlations Analysis
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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 Zenith Stock performing well and Zenith Steel 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 Zenith Steel'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NMDC | 1.76 | 0.03 | (0.03) | 0.24 | 1.91 | 3.96 | 8.71 | |||
| SAIL | 1.64 | (0.16) | 0.00 | 2.15 | 0.00 | 3.70 | 10.24 | |||
| EMBASSY-RR | 0.80 | (0.02) | (0.10) | 0.02 | 1.10 | 1.44 | 4.80 | |||
| GNFC | 1.42 | (0.18) | 0.00 | (0.59) | 0.00 | 2.16 | 11.02 | |||
| GUJALKALI | 1.36 | 0.07 | (0.03) | (0.38) | 1.77 | 3.52 | 10.86 | |||
| IMFA | 1.86 | 0.30 | 0.09 | (6.39) | 1.75 | 4.96 | 11.39 | |||
| JTLIND | 2.78 | (0.91) | 0.00 | 1.62 | 0.00 | 3.62 | 60.24 | |||
| INDIAGLYCO | 2.28 | (0.07) | 0.00 | (0.19) | 0.00 | 5.48 | 23.17 | |||
| MAITHANALL | 1.33 | (0.03) | 0.00 | 0.73 | 0.00 | 2.80 | 10.91 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Zenith Steel 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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Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
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Zenith Steel Corporate Management
Elected by the shareholders, the Zenith Steel's board of directors comprises two types of representatives: Zenith Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zenith. The board's role is to monitor Zenith Steel's management team and ensure that shareholders' interests are well served. Zenith Steel'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, Zenith Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Prakhar Agarwal | Company Officer | Profile | |
| M Sethi | Joint Pipes | Profile | |
| Girvanesh Balasubramanan | Chief Officer | Profile | |
| J Baxi | Joint Division | Profile | |
| Santosh Jain | General Marketing | Profile |