United Spirits Correlations

UNITDSPR

1,366 4.10 0.30%

The current 90-days correlation between United Spirits and Zee Entertainment Enterprises is -0.14 (i.e., Good diversification). The correlation of United Spirits 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.

United Spirits Correlation With Market

Significant diversification

The correlation between United Spirits Limited and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Spirits Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against United Stock

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0.89	RIIL	Reliance Industrial	Pair Corr
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0.81	NH	Narayana Hrudayalaya	Pair Corr
0.79	MANINFRA	Man Infraconstruction	Pair Corr
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0.68	MEGASTAR	Megastar Foods	Pair Corr

Related Correlations Analysis

	ZEEL	UBL	NETWORK18	SILLYMONKS	MTARTECH	GMBREW	ASALCBR	ROSSARI
ZEEL		-0.86	0.89	-0.04	0.55	0.85	-0.06	0.64	ZEEL
UBL	-0.86		-0.76	0.0	-0.62	-0.7	0.3	-0.42	UBL
NETWORK18	0.89	-0.76		-0.02	0.57	0.78	-0.04	0.61	NETWORK18
SILLYMONKS	-0.04	0.0	-0.02		-0.32	-0.06	0.17	0.37	SILLYMONKS
MTARTECH	0.55	-0.62	0.57	-0.32		0.6	-0.45	-0.09	MTARTECH
GMBREW	0.85	-0.7	0.78	-0.06	0.6		0.1	0.49	GMBREW
ASALCBR	-0.06	0.3	-0.04	0.17	-0.45	0.1		0.43	ASALCBR
ROSSARI	0.64	-0.42	0.61	0.37	-0.09	0.49	0.43		ROSSARI
	ZEEL	UBL	NETWORK18	SILLYMONKS	MTARTECH	GMBREW	ASALCBR	ROSSARI

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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

NETWORK18	+ 0.89	ZEEL
GMBREW	+ 0.85	ZEEL
GMBREW	+ 0.78	NETWORK18
ROSSARI	+ 0.64	ZEEL
ROSSARI	+ 0.61	NETWORK18
GMBREW	+ 0.6	MTARTECH

High negative correlations

UBL	- 0.86	ZEEL
NETWORK18	- 0.76	UBL
GMBREW	- 0.7	UBL
MTARTECH	- 0.62	UBL
ASALCBR	- 0.45	MTARTECH
ROSSARI	- 0.42	UBL

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Spirits 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 United Spirits' 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
ZEEL	1.95	0.34	0.09	3.58	2.13	(2.08)	4.17	(4.06)	16.52
UBL	1.00	(0.03)	0.00	0.19	0.00	0.00	2.11	(2.51)	7.26
NETWORK18	2.20	0.43	0.16	1.52	1.74	(2.77)	5.25	(3.69)	18.94
SILLYMONKS	2.62	0.11	0.01	0.37	2.94	(2.80)	7.70	(4.94)	21.14
MTARTECH	1.20	0.15	0.00	(1.05)	1.29	(1.30)	2.79	(2.38)	8.48
GMBREW	1.23	0.11	(0.02)	(1.90)	1.46	(1.30)	2.50	(2.48)	15.65
ASALCBR	1.65	(0.09)	0.00	(0.75)	0.00	0.00	4.33	(2.51)	15.79
ROSSARI	1.29	0.17	0.02	(3.54)	1.61	(1.30)	2.83	(2.25)	9.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Spirits 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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United Spirits Corporate Management

Elected by the shareholders, the United Spirits' board of directors comprises two types of representatives: United Spirits inside directors who are chosen from within the company, and outside directors, selected externally and held independent of United. The board's role is to monitor United Spirits' management team and ensure that shareholders' interests are well served. United Spirits' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, United Spirits' outside directors are responsible for providing unbiased perspectives on the board's policies.

Ashok Arora	Vice Finance	Profile
Jitendra Mahajan	Chief Officer	Profile
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