Dr Reddys Correlations

RDY Stock

USD 14.48 0.21 1.43%

The current 90-days correlation between Dr Reddys Laboratories and Prestige Brand Holdings is 0.13 (i.e., Average diversification). The correlation of Dr Reddys 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.

Dr Reddys Correlation With Market

Weak diversification

The correlation between Dr Reddys Laboratories and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dr Reddys Laboratories and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Dr Reddys Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with RDY Stock

0.66	PFE	Pfizer Inc	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.63	AXP	American Express	Pair Corr
0.61	BA	Boeing	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.74	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.77	IBM	International Business Earnings Call This Week	Pair Corr

Moving against RDY Stock

0.51

MSB

Mesabi Trust

Pair Corr

Related Correlations Analysis

	PBH	AMPH	PCRX	COLL	WIT	HDB	IBN	SAY	INFY
PBH		0.79	0.58	-0.22	-0.05	-0.22	0.22	-0.16	0.07	PBH
AMPH	0.79		0.65	-0.33	-0.13	-0.05	0.21	-0.16	0.02	AMPH
PCRX	0.58	0.65		-0.63	-0.58	-0.38	0.32	-0.59	-0.46	PCRX
COLL	-0.22	-0.33	-0.63		0.63	0.7	0.13	0.87	0.76	COLL
WIT	-0.05	-0.13	-0.58	0.63		0.59	0.08	0.73	0.88	WIT
HDB	-0.22	-0.05	-0.38	0.7	0.59		0.48	0.8	0.72	HDB
IBN	0.22	0.21	0.32	0.13	0.08	0.48		0.12	0.3	IBN
SAY	-0.16	-0.16	-0.59	0.87	0.73	0.8	0.12		0.85	SAY
INFY	0.07	0.02	-0.46	0.76	0.88	0.72	0.3	0.85		INFY
	PBH	AMPH	PCRX	COLL	WIT	HDB	IBN	SAY	INFY

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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

INFY	+ 0.88	WIT
SAY	+ 0.87	COLL
INFY	+ 0.85	SAY
SAY	+ 0.8	HDB
AMPH	+ 0.79	PBH
INFY	+ 0.76	COLL

High negative correlations

COLL	- 0.63	PCRX
SAY	- 0.59	PCRX
WIT	- 0.58	PCRX
INFY	- 0.46	PCRX
HDB	- 0.38	PCRX
COLL	- 0.33	AMPH

Risk-Adjusted Indicators

There is a big difference between RDY Stock performing well and Dr Reddys 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 Dr Reddys' 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
PBH	1.05	(0.23)	0.00	(0.15)	0.00	0.00	2.11	(2.13)	10.50
AMPH	1.73	(0.39)	0.00	(0.22)	0.00	0.00	2.53	(3.77)	8.97
PCRX	1.52	(0.23)	0.00	(1.56)	0.00	0.00	4.49	(2.88)	12.26
COLL	1.28	0.16	0.06	0.38	1.43	(1.32)	2.72	(2.53)	8.47
WIT	1.16	(0.02)	(0.03)	0.10	1.49	(1.25)	2.07	(1.96)	10.91
HDB	1.00	0.15	0.03	0.98	1.25	(1.09)	2.40	(1.61)	8.59
IBN	0.82	0.06	(0.04)	0.36	0.94	(1.14)	1.95	(1.67)	8.26
SAY	0.18	0.03	(0.28)	1.20	0.14	(0.21)	0.32	(0.52)	1.20
INFY	1.07	0.03	0.00	0.17	1.30	(1.20)	2.23	(2.62)	10.68

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