SRF Correlations

SRF Stock

3,130 51.10 1.61%

The current 90-days correlation between SRF Limited and Home First Finance is 0.08 (i.e., Significant diversification). The correlation of SRF 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.

SRF Correlation With Market

Significant diversification

The correlation between SRF Limited 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 SRF Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SRF Stock

0.79	IMFA	Indian Metals Ferro Earnings Call This Week	Pair Corr
0.88	ABBOTINDIA	Abbott India Limited	Pair Corr
0.61	BOSCHLTD	Bosch Limited	Pair Corr
0.87	LLOYDSENT	Lloyds Enterprises	Pair Corr
0.7	NH	Narayana Hrudayalaya	Pair Corr
0.64	ELECTCAST	Electrosteel Castings Earnings Call This Week	Pair Corr
0.71	MANINFRA	Man Infraconstruction	Pair Corr
0.64	KELLTONTEC	Kellton Tech Solutions Split	Pair Corr

Moving against SRF Stock

0.57	ORISSAMINE	Orissa Minerals	Pair Corr
0.5	BYKE	Byke Hospitality	Pair Corr
0.4	GUJALKALI	Gujarat Alkalies	Pair Corr

Related Correlations Analysis

	HOMEFIRST	GOKUL	SMLT	RCOM	RHFL	PRAXIS	ROUTE	EMBASSY-RR
HOMEFIRST		-0.16	0.53	-0.02	0.54	0.38	0.45	0.42	HOMEFIRST
GOKUL	-0.16		0.16	0.78	0.31	0.16	0.22	0.17	GOKUL
SMLT	0.53	0.16		0.21	0.37	0.08	0.55	0.27	SMLT
RCOM	-0.02	0.78	0.21		0.58	0.27	0.4	0.16	RCOM
RHFL	0.54	0.31	0.37	0.58		0.65	0.68	0.68	RHFL
PRAXIS	0.38	0.16	0.08	0.27	0.65		0.35	0.71	PRAXIS
ROUTE	0.45	0.22	0.55	0.4	0.68	0.35		0.49	ROUTE
EMBASSY-RR	0.42	0.17	0.27	0.16	0.68	0.71	0.49		EMBASSY-RR
	HOMEFIRST	GOKUL	SMLT	RCOM	RHFL	PRAXIS	ROUTE	EMBASSY-RR

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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

RCOM	+ 0.78	GOKUL
EMBASSY-RR	+ 0.71	PRAXIS
ROUTE	+ 0.68	RHFL
EMBASSY-RR	+ 0.68	RHFL
PRAXIS	+ 0.65	RHFL
RHFL	+ 0.58	RCOM

High negative correlations

GOKUL	- 0.16	HOMEFIRST
RCOM	- 0.02	HOMEFIRST

Risk-Adjusted Indicators

There is a big difference between SRF Stock performing well and SRF 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 SRF'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
HOMEFIRST	1.78	0.27	0.02	(0.32)	2.12	(1.91)	3.48	(3.53)	13.11
GOKUL	1.49	(0.14)	0.00	(0.17)	0.00	0.00	3.65	(2.76)	15.69
SMLT	1.64	(0.05)	0.00	(0.04)	0.00	0.00	3.77	(3.75)	11.08
RCOM	1.91	(0.21)	0.00	0.79	0.00	0.00	4.73	(5.37)	10.39
RHFL	2.94	0.66	0.19	(0.94)	1.98	(4.40)	9.70	(2.17)	12.12
PRAXIS	2.52	0.33	0.09	1.05	2.45	(2.82)	4.98	(4.13)	9.94
ROUTE	1.41	(0.10)	0.00	4.90	0.00	0.00	2.97	(3.26)	10.92
EMBASSY-RR	0.69	0.10	(0.03)	2.60	0.80	(0.80)	1.68	(1.67)	4.68

Be your own money manager

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