POWERGRID Infrastructure Correlations
| PGINVIT-IV | 93.09 0.09 0.1% |
The current 90-days correlation between POWERGRID Infrastructure and Asian Hotels Limited is -0.05 (i.e., Good diversification). The correlation of POWERGRID Infrastructure 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.
POWERGRID Infrastructure Correlation With Market
Good diversification
The correlation between POWERGRID Infrastructure Inves and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding POWERGRID Infrastructure Inves and DJI in the same portfolio, assuming nothing else is changed.
POWERGRID |
The ability to find closely correlated positions to POWERGRID Infrastructure could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace POWERGRID Infrastructure 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 POWERGRID Infrastructure - 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 POWERGRID Infrastructure Investment to buy it.
Moving together with POWERGRID Stock
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| 0.8 | DLF | DLF Limited Earnings Call This Week | PairCorr |
| 0.89 | PARAGMILK | Parag Milk Foods Earnings Call This Week | PairCorr |
| 0.72 | MOIL | MOIL Limited | PairCorr |
| 0.91 | COFORGE | Coforge Limited Earnings Call This Week | PairCorr |
| 0.84 | HDFCBANK | HDFC Bank Limited | PairCorr |
| 0.88 | WIPRO | Wipro Limited | PairCorr |
| 0.86 | A2ZINFRA | A2Z Infra Engineering | PairCorr |
| 0.72 | APOLLO | Apollo Micro Systems | PairCorr |
| 0.63 | INFOMEDIA | Infomedia Press | PairCorr |
| 0.86 | HEALTHADD | HEALTHADD | PairCorr |
| 0.66 | RHFL | Reliance Home Finance | PairCorr |
| 0.63 | RICOAUTO | Rico Auto Industries | PairCorr |
| 0.75 | EMBASSY | EMBASSY OFFICE PARKS Earnings Call This Week | PairCorr |
| 0.84 | INDIAGLYCO | India Glycols Limited | PairCorr |
| 0.89 | IMFA | Indian Metals Ferro | PairCorr |
| 0.78 | YATHARTH | Yatharth Hospital Trauma | PairCorr |
| 0.83 | RELIANCE | Reliance Industries | PairCorr |
| 0.85 | SUDARSCHEM | Sudarshan Chemical | PairCorr |
| 0.74 | GMBREW | GM Breweries Limited | PairCorr |
| 0.76 | MANGCHEFER | Mangalore Chemicals | PairCorr |
| 0.9 | MANAKCOAT | Manaksia Coated Metals | PairCorr |
| 0.61 | HSCL | Himadri Speciality | PairCorr |
| 0.64 | JAICORPLTD | Jai Corp Limited | PairCorr |
| 0.88 | MOTILALOFS | Motilal Oswal Financial Earnings Call This Week | PairCorr |
| 0.64 | UFO | UFO Moviez India | PairCorr |
| 0.84 | ORTEL | Ortel Communications | PairCorr |
| 0.67 | STYRENIX | Styrenix Performance | PairCorr |
| 0.79 | PGHL | Procter Gamble Health | PairCorr |
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 POWERGRID Stock performing well and POWERGRID Infrastructure 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 POWERGRID Infrastructure'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANHOTNR | 1.49 | (0.04) | 0.00 | (0.09) | 0.00 | 3.15 | 7.33 | |||
| INDHOTEL | 1.33 | (0.16) | 0.00 | (0.62) | 0.00 | 2.46 | 9.90 | |||
| CLEAN | 1.58 | 0.15 | 0.02 | 0.82 | 2.02 | 4.00 | 10.98 | |||
| PFS | 1.67 | 0.39 | 0.14 | (3.69) | 1.40 | 4.90 | 11.03 | |||
| RADIOCITY | 1.39 | 0.00 | 0.00 | 0.14 | 0.00 | 3.63 | 21.73 | |||
| RBLBANK | 2.04 | 0.53 | 0.21 | 1.65 | 1.74 | 4.64 | 14.24 | |||
| AUBANK | 1.33 | 0.53 | 0.27 | (1.28) | 0.86 | 3.69 | 12.30 | |||
| JMFINANCIL | 1.95 | 0.80 | 0.46 | 4.13 | 0.86 | 5.98 | 11.43 |
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