POWERGRID Infrastructure Correlations

PGINVIT-IV

94.90 0.17 0.18%

The current 90-days correlation between POWERGRID Infrastructure and GVP Infotech Limited is -0.2 (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

Significant diversification

The correlation between POWERGRID Infrastructure Inves and DJI is 0.03 (i.e., Significant 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.

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

0.79	EMBASSY	EMBASSY OFFICE PARKS	Pair Corr
0.88	APOLLO	Apollo Micro Systems	Pair Corr
0.7	AXISCADES	AXISCADES Technologies	Pair Corr
0.66	PANACHE	Panache Digilife	Pair Corr
0.77	KIOCL	KIOCL Limited	Pair Corr
0.74	AADHARHFC	Aadhar Housing Finance	Pair Corr
0.78	CCCL	Consolidated Construction	Pair Corr
0.68	HDFCAMC	HDFC Asset Management Earnings Call This Week	Pair Corr
0.74	TDPOWERSYS	TD Power Systems	Pair Corr
0.81	TBOTEK	TBO Tek	Pair Corr
0.7	GRANULES	Granules India	Pair Corr
0.69	ONMOBILE	OnMobile Global	Pair Corr
0.67	CMICABLES	CMI Limited	Pair Corr
0.71	BAJAJ-AUTO	Bajaj Auto Limited	Pair Corr
0.75	IXIGO	Le Travenues Technology	Pair Corr
0.61	GENCON	Generic Engineering	Pair Corr
0.78	UNOMINDA	UNO Minda Limited	Pair Corr

Related Correlations Analysis

	GVPTECH	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	JNKINDIA	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND
GVPTECH		-0.5	-0.37	0.23	0.7	0.62	0.68	0.24	-0.36	0.47	GVPTECH
KINGFA	-0.5		0.92	0.13	-0.81	-0.74	-0.59	-0.48	0.57	-0.25	KINGFA
RICOAUTO	-0.37	0.92		0.24	-0.72	-0.65	-0.42	-0.42	0.61	-0.05	RICOAUTO
GATECHDVR	0.23	0.13	0.24		-0.1	0.13	0.36	-0.08	0.61	-0.01	GATECHDVR
COSMOFIRST	0.7	-0.81	-0.72	-0.1		0.79	0.71	0.55	-0.67	0.41	COSMOFIRST
JNKINDIA	0.62	-0.74	-0.65	0.13	0.79		0.69	0.57	-0.29	0.38	JNKINDIA
DELTAMAGNT	0.68	-0.59	-0.42	0.36	0.71	0.69		0.38	-0.21	0.62	DELTAMAGNT
TBZ	0.24	-0.48	-0.42	-0.08	0.55	0.57	0.38		-0.15	0.22	TBZ
PARAGMILK	-0.36	0.57	0.61	0.61	-0.67	-0.29	-0.21	-0.15		-0.22	PARAGMILK
HEUBACHIND	0.47	-0.25	-0.05	-0.01	0.41	0.38	0.62	0.22	-0.22		HEUBACHIND
	GVPTECH	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	JNKINDIA	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND

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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

RICOAUTO	+ 0.92	KINGFA
JNKINDIA	+ 0.79	COSMOFIRST
DELTAMAGNT	+ 0.71	COSMOFIRST
COSMOFIRST	+ 0.7	GVPTECH
DELTAMAGNT	+ 0.69	JNKINDIA
DELTAMAGNT	+ 0.68	GVPTECH

High negative correlations

COSMOFIRST	- 0.81	KINGFA
JNKINDIA	- 0.74	KINGFA
COSMOFIRST	- 0.72	RICOAUTO
PARAGMILK	- 0.67	COSMOFIRST
JNKINDIA	- 0.65	RICOAUTO
DELTAMAGNT	- 0.59	KINGFA

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
GVPTECH	2.41	(0.05)	0.00	0.11	0.00	0.00	6.12	(4.47)	17.86
KINGFA	2.20	0.42	0.16	0.71	2.05	(2.75)	5.89	(2.74)	15.65
RICOAUTO	2.16	0.22	0.11	0.23	2.02	(2.83)	7.44	(3.89)	21.06
GATECHDVR	2.30	(0.09)	0.00	(0.22)	0.00	0.00	4.08	(5.36)	10.28
COSMOFIRST	1.62	(0.38)	0.00	(1.36)	0.00	0.00	2.89	(3.80)	9.99
JNKINDIA	1.63	(0.15)	0.00	(0.20)	0.00	0.00	4.02	(2.76)	11.19
DELTAMAGNT	1.46	(0.34)	0.00	0.65	0.00	0.00	2.65	(3.21)	8.93
TBZ	1.51	(0.03)	0.00	1.04	0.00	0.00	3.87	(2.41)	15.71
PARAGMILK	2.14	0.32	0.14	6.84	1.62	(2.91)	6.87	(2.90)	10.89
HEUBACHIND	0.50	(0.14)	0.00	(7.91)	0.00	0.00	0.74	(0.66)	8.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in POWERGRID Infrastructure 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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