Coforge Correlations

COFORGE Stock

1,978 11.20 0.57%

The current 90-days correlation between Coforge Limited and Shyam Telecom Limited is 0.15 (i.e., Average diversification). The correlation of Coforge 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.

Coforge Correlation With Market

Significant diversification

The correlation between Coforge Limited and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coforge Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Coforge Stock

0.79	RELIANCE	Reliance Industries	Pair Corr
0.72	BHARTIARTL	Bharti Airtel Limited	Pair Corr
0.65	FSC	Future Supply Chain	Pair Corr
0.78	BHARATFORG	Bharat Forge Limited	Pair Corr
0.68	PRIVISCL	Privi Speciality Che	Pair Corr
0.61	MEGASOFT	Megasoft Limited	Pair Corr
0.61	TORNTPHARM	Torrent Pharmaceuticals	Pair Corr
0.72	SAMBHAAV	Sambhaav Media	Pair Corr
0.74	SBC	SBC Exports Limited	Pair Corr
0.72	GLOBAL	Global Education	Pair Corr
0.78	TMB	Tamilnad Mercantile Bank	Pair Corr
0.75	TCS	Tata Consultancy Services	Pair Corr
0.69	WELINV	Welspun Investments and	Pair Corr
0.79	GOKEX	Gokaldas Exports	Pair Corr
0.66	RELIABLE	Reliable Data Services	Pair Corr
0.69	MAHASTEEL	Mahamaya Steel Industries	Pair Corr
0.77	ASAHIINDIA	Asahi India Glass	Pair Corr
0.62	ETHOSLTD	Ethos Limited	Pair Corr
0.79	HEALTHADD	HEALTHADD	Pair Corr
0.67	PARAGMILK	Parag Milk Foods	Pair Corr

Related Correlations Analysis

	SHYAMTEL	ALKALI	SPORTKING	CLEAN	ORTEL	TOTAL	SBCL	HISARMETAL
SHYAMTEL		0.61	0.72	0.89	0.38	0.53	0.65	0.64	SHYAMTEL
ALKALI	0.61		0.59	0.74	0.42	0.38	0.83	0.59	ALKALI
SPORTKING	0.72	0.59		0.8	0.15	0.32	0.7	0.75	SPORTKING
CLEAN	0.89	0.74	0.8		0.44	0.51	0.71	0.72	CLEAN
ORTEL	0.38	0.42	0.15	0.44		0.11	0.29	0.18	ORTEL
TOTAL	0.53	0.38	0.32	0.51	0.11		0.45	0.36	TOTAL
SBCL	0.65	0.83	0.7	0.71	0.29	0.45		0.56	SBCL
HISARMETAL	0.64	0.59	0.75	0.72	0.18	0.36	0.56		HISARMETAL
	SHYAMTEL	ALKALI	SPORTKING	CLEAN	ORTEL	TOTAL	SBCL	HISARMETAL

Risk-Adjusted Indicators

There is a big difference between Coforge Stock performing well and Coforge 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 Coforge'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
SHYAMTEL	2.11	(0.19)	0.00	0.76	0.00	0.00	4.51	(4.03)	15.80
ALKALI	1.61	(0.12)	0.00	(0.46)	0.00	0.00	4.64	(3.71)	19.71
SPORTKING	1.34	(0.28)	0.00	0.87	0.00	0.00	3.67	(2.65)	11.35
CLEAN	1.06	(0.40)	0.00	(38.20)	0.00	0.00	1.86	(2.97)	7.79
ORTEL	3.15	(0.16)	0.00	0.78	0.00	0.00	4.86	(5.49)	10.51
TOTAL	1.45	0.19	0.07	(0.69)	1.21	(1.87)	3.67	(2.11)	12.04
SBCL	1.37	(0.24)	0.00	(0.81)	0.00	0.00	2.52	(2.95)	10.75
HISARMETAL	1.16	(0.12)	0.00	1.12	0.00	0.00	3.24	(2.33)	8.68

Be your own money manager

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

Elected by the shareholders, the Coforge's board of directors comprises two types of representatives: Coforge inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Coforge. The board's role is to monitor Coforge's management team and ensure that shareholders' interests are well served. Coforge'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, Coforge's outside directors are responsible for providing unbiased perspectives on the board's policies.

Virkrant Karnik	Data, Digital	Profile
Anupam Jain	Chief Officer	Profile
Manish Hemrajani	Head Relations	Profile
Pankaj Khanna	Executive Officer	Profile
Ajay Kalra	Senior Advisor	Profile
Saurabh Goel	Chief Officer	Profile

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