Ganesh Housing Correlations

GANESHHOUC

1,188 64.45 5.15%

The current 90-days correlation between Ganesh Housing and MIRC Electronics Limited is 0.38 (i.e., Weak diversification). The correlation of Ganesh Housing 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.

Ganesh Housing Correlation With Market

Modest diversification

The correlation between Ganesh Housing and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ganesh Housing and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ganesh Stock

0.85	SBIN	State Bank	Pair Corr
0.73	JSWHL	JSW Holdings Limited	Pair Corr
0.76	NAM-INDIA	Nippon Life India	Pair Corr
0.87	RAINBOW	Rainbow Childrens	Pair Corr
0.63	KEC	KEC International	Pair Corr
0.91	GRWRHITECH	Garware Hi Tech	Pair Corr
0.77	PAGEIND	Page Industries	Pair Corr
0.8	GILLETTE	Gillette India	Pair Corr
0.61	COSMOFIRST	COSMO FIRST LIMITED	Pair Corr
0.71	LLOYDSME	LLOYDS METALS AND	Pair Corr
0.66	DELTAMAGNT	Delta Manufacturing	Pair Corr
0.91	MANGCHEFER	Mangalore Chemicals	Pair Corr
0.75	SUMMITSEC	Summit Securities	Pair Corr
0.89	IITL	Industrial Investment	Pair Corr
0.62	STEELCAS	Steelcast Limited	Pair Corr
0.79	INDHOTEL	Indian Hotels	Pair Corr
0.73	WELCORP	Welspun Corp Limited	Pair Corr
0.77	HDFCBANK	HDFC Bank Limited	Pair Corr

Moving against Ganesh Stock

0.43	SBCL	Shivalik Bimetal Controls	Pair Corr
0.36	BLUECOAST	Blue Coast Hotels	Pair Corr
0.33	HISARMETAL	Hisar Metal Industries	Pair Corr

Related Correlations Analysis

	MIRCELECTR	GTECJAINX	CCHHL	LOTUSEYE	ELIN	PGHL	HAVISHA	VIPCLOTHNG
MIRCELECTR		0.64	0.39	0.66	0.78	0.48	-0.15	0.42	MIRCELECTR
GTECJAINX	0.64		0.11	0.57	0.71	-0.14	-0.41	-0.05	GTECJAINX
CCHHL	0.39	0.11		0.27	0.57	0.59	0.03	0.16	CCHHL
LOTUSEYE	0.66	0.57	0.27		0.67	0.35	-0.48	0.6	LOTUSEYE
ELIN	0.78	0.71	0.57	0.67		0.25	-0.3	0.32	ELIN
PGHL	0.48	-0.14	0.59	0.35	0.25		0.25	0.57	PGHL
HAVISHA	-0.15	-0.41	0.03	-0.48	-0.3	0.25		-0.08	HAVISHA
VIPCLOTHNG	0.42	-0.05	0.16	0.6	0.32	0.57	-0.08		VIPCLOTHNG
	MIRCELECTR	GTECJAINX	CCHHL	LOTUSEYE	ELIN	PGHL	HAVISHA	VIPCLOTHNG

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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

ELIN	+ 0.78	MIRCELECTR
ELIN	+ 0.71	GTECJAINX
ELIN	+ 0.67	LOTUSEYE
LOTUSEYE	+ 0.66	MIRCELECTR
GTECJAINX	+ 0.64	MIRCELECTR
VIPCLOTHNG	+ 0.6	LOTUSEYE

High negative correlations

HAVISHA	- 0.48	LOTUSEYE
HAVISHA	- 0.41	GTECJAINX
HAVISHA	- 0.3	ELIN
HAVISHA	- 0.15	MIRCELECTR
PGHL	- 0.14	GTECJAINX
VIPCLOTHNG	- 0.08	HAVISHA

Risk-Adjusted Indicators

There is a big difference between Ganesh Stock performing well and Ganesh Housing 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 Ganesh Housing'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
MIRCELECTR	2.32	(0.12)	0.00	(0.15)	0.00	0.00	4.96	(4.73)	12.69
GTECJAINX	2.81	(0.63)	0.00	(1.02)	0.00	0.00	4.47	(5.00)	9.93
CCHHL	2.50	(0.06)	0.00	(0.18)	0.00	0.00	4.87	(4.83)	13.27
LOTUSEYE	1.90	(0.12)	0.00	(1.06)	0.00	0.00	4.99	(4.37)	13.50
ELIN	2.14	(0.22)	0.00	(0.26)	0.00	0.00	4.51	(4.28)	12.36
PGHL	1.39	0.12	0.07	0.36	1.27	(1.82)	4.09	(1.93)	8.69
HAVISHA	2.94	0.21	0.07	0.20	3.02	(4.13)	4.98	(5.07)	30.08
VIPCLOTHNG	2.32	0.12	0.03	(0.46)	2.36	(2.51)	4.88	(3.53)	9.89

Be your own money manager

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