Varun Beverages Correlations

VBL Stock

484.85 5.30 1.08%

The current 90-days correlation between Varun Beverages and Patanjali Foods Limited is 0.4 (i.e., Very weak diversification). The correlation of Varun Beverages 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.

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

Moving against Varun Stock

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0.81	HAL	Hindustan Aeronautics	Pair Corr
0.78	WIPRO	Wipro Limited	Pair Corr
0.75	CIEINDIA	CIE Automotive India	Pair Corr
0.73	LLOYDSENT	Lloyds Enterprises	Pair Corr
0.69	PEL	Piramal Enterprises	Pair Corr
0.6	IRFC	Indian Railway Finance Earnings Call This Week	Pair Corr
0.52	NH	Narayana Hrudayalaya	Pair Corr
0.51	CHOLAHLDNG	Cholamandalam Financial	Pair Corr
0.46	KANORICHEM	Kanoria Chemicals	Pair Corr

Related Correlations Analysis

	AUBANK	PARAGMILK	MANCREDIT	AFSL	PATANJALI	KARURVYSYA	LTFOODS	HATHWAY
AUBANK		0.79	0.78	0.89	-0.72	0.88	0.86	0.69	AUBANK
PARAGMILK	0.79		0.7	0.8	-0.56	0.83	0.86	0.82	PARAGMILK
MANCREDIT	0.78	0.7		0.79	-0.72	0.75	0.85	0.74	MANCREDIT
AFSL	0.89	0.8	0.79		-0.87	0.79	0.83	0.72	AFSL
PATANJALI	-0.72	-0.56	-0.72	-0.87		-0.52	-0.64	-0.57	PATANJALI
KARURVYSYA	0.88	0.83	0.75	0.79	-0.52		0.89	0.75	KARURVYSYA
LTFOODS	0.86	0.86	0.85	0.83	-0.64	0.89		0.89	LTFOODS
HATHWAY	0.69	0.82	0.74	0.72	-0.57	0.75	0.89		HATHWAY
	AUBANK	PARAGMILK	MANCREDIT	AFSL	PATANJALI	KARURVYSYA	LTFOODS	HATHWAY

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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

AFSL	+ 0.89	AUBANK
LTFOODS	+ 0.89	KARURVYSYA
HATHWAY	+ 0.89	LTFOODS
KARURVYSYA	+ 0.88	AUBANK
LTFOODS	+ 0.86	AUBANK
LTFOODS	+ 0.86	PARAGMILK

High negative correlations

PATANJALI	- 0.87	AFSL
PATANJALI	- 0.72	MANCREDIT
PATANJALI	- 0.72	AUBANK
LTFOODS	- 0.64	PATANJALI
HATHWAY	- 0.57	PATANJALI
PATANJALI	- 0.56	PARAGMILK

Risk-Adjusted Indicators

There is a big difference between Varun Stock performing well and Varun Beverages 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 Varun Beverages' 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
AUBANK	1.33	0.53	0.27	(1.28)	0.86	(1.63)	3.69	(1.57)	12.30
PARAGMILK	2.02	0.45	0.19	1.13	1.66	(2.42)	5.49	(2.63)	20.90
MANCREDIT	1.78	0.27	0.05	(0.90)	1.77	(2.01)	4.89	(3.08)	11.59
AFSL	1.86	0.28	0.06	2.00	2.41	(2.08)	5.70	(2.51)	23.52
PATANJALI	1.15	(0.07)	0.00	(0.19)	0.00	0.00	2.67	(2.10)	8.24
KARURVYSYA	1.30	0.29	0.12	2.66	1.09	(1.43)	3.18	(2.24)	10.78
LTFOODS	2.02	0.56	0.22	6.92	1.62	(2.43)	4.82	(2.54)	11.92
HATHWAY	1.36	0.27	0.09	9.76	1.26	(1.53)	2.76	(2.05)	9.88

Be your own money manager

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