Indegene Correlations

INDGN Stock

600.65 9.75 1.65%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Indegene moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Indegene moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Indegene Correlation With Market

Average diversification

The correlation between Indegene and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indegene and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Indegene Stock

0.54	HDFCBANK	HDFC Bank Limited	Pair Corr
0.52	INDHOTEL	Indian Hotels	Pair Corr
0.47	360ONE	360 ONE WAM	Pair Corr
0.44	ICICIBANK	ICICI Bank Limited	Pair Corr
0.43	LT	Larsen Toubro Limited	Pair Corr
0.41	SBIN	State Bank	Pair Corr

Related Correlations Analysis

	CAMS	ADFFOODS	KOHINOOR	LTFOODS	NEWGEN	SYRMA	SELAN	VBL
CAMS		0.83	-0.12	0.39	0.32	0.64	0.32	0.35	CAMS
ADFFOODS	0.83		-0.22	0.17	0.13	0.63	0.25	0.16	ADFFOODS
KOHINOOR	-0.12	-0.22		0.47	0.41	-0.46	-0.03	0.09	KOHINOOR
LTFOODS	0.39	0.17	0.47		0.54	-0.17	0.31	0.43	LTFOODS
NEWGEN	0.32	0.13	0.41	0.54		-0.09	0.17	0.02	NEWGEN
SYRMA	0.64	0.63	-0.46	-0.17	-0.09		0.5	0.23	SYRMA
SELAN	0.32	0.25	-0.03	0.31	0.17	0.5		0.21	SELAN
VBL	0.35	0.16	0.09	0.43	0.02	0.23	0.21		VBL
	CAMS	ADFFOODS	KOHINOOR	LTFOODS	NEWGEN	SYRMA	SELAN	VBL

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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

ADFFOODS	+ 0.83	CAMS
SYRMA	+ 0.64	CAMS
SYRMA	+ 0.63	ADFFOODS
NEWGEN	+ 0.54	LTFOODS
SELAN	+ 0.5	SYRMA
LTFOODS	+ 0.47	KOHINOOR

High negative correlations

SYRMA	- 0.46	KOHINOOR
KOHINOOR	- 0.22	ADFFOODS
SYRMA	- 0.17	LTFOODS
KOHINOOR	- 0.12	CAMS
SYRMA	- 0.09	NEWGEN
SELAN	- 0.03	KOHINOOR

Risk-Adjusted Indicators

There is a big difference between Indegene Stock performing well and Indegene 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 Indegene'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
CAMS	1.76	0.28	0.10	0.53	2.12	(1.84)	3.94	(3.69)	12.59
ADFFOODS	2.69	0.26	0.11	0.27	2.48	(3.08)	6.13	(4.09)	19.18
KOHINOOR	2.34	0.14	0.01	(1.98)	2.70	(2.80)	3.83	(6.17)	27.84
LTFOODS	1.97	0.14	0.01	1.26	3.03	(2.01)	3.94	(3.48)	19.82
NEWGEN	2.69	0.38	0.10	0.53	3.36	(3.25)	6.21	(5.19)	24.69
SYRMA	2.35	0.46	0.24	0.46	1.62	(3.12)	9.36	(3.34)	19.39
SELAN	2.19	(0.04)	0.00	(0.17)	0.00	0.00	5.45	(3.96)	11.02
VBL	1.79	0.11	0.01	1.89	1.95	(2.23)	4.61	(3.27)	12.12

Be your own money manager

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

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

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