ICICI Bank Correlations
| ICICIBANK | 1,128 9.70 0.87% |
The correlation of ICICI Bank 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ICICI Bank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICICI Bank Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very good diversification
The correlation between ICICI Bank Limited and NYA is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ICICI Bank Limited and NYA in the same portfolio, assuming nothing else is changed.
ICICI |
The ability to find closely correlated positions to ICICI Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ICICI Bank 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 ICICI Bank - 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 ICICI Bank Limited to buy it.
Moving against ICICI Stock
Related Correlations Analysis
| 0.81 | 0.54 | 0.42 | 0.44 | 0.75 | 0.59 | 0.5 | SUMICHEM | ||
| 0.81 | 0.67 | 0.46 | 0.42 | 0.68 | 0.35 | 0.62 | COMPUSOFT | ||
| 0.54 | 0.67 | 0.13 | 0.08 | 0.66 | 0.19 | 0.72 | CENTUM | ||
| 0.42 | 0.46 | 0.13 | 0.76 | 0.28 | 0.64 | -0.17 | TAINWALCHM | ||
| 0.44 | 0.42 | 0.08 | 0.76 | 0.18 | 0.65 | -0.28 | NUCLEUS | ||
| 0.75 | 0.68 | 0.66 | 0.28 | 0.18 | 0.42 | 0.51 | PUNJABCHEM | ||
| 0.59 | 0.35 | 0.19 | 0.64 | 0.65 | 0.42 | -0.08 | KOTHARIPET | ||
| 0.5 | 0.62 | 0.72 | -0.17 | -0.28 | 0.51 | -0.08 | SUDARSCHEM | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ICICI Stock performing well and ICICI Bank 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 ICICI Bank'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SUMICHEM | 1.20 | (0.02) | 0.00 | 0.27 | 0.00 | 4.01 | 10.39 | |||
| COMPUSOFT | 3.26 | 0.23 | 0.06 | 0.43 | 3.07 | 9.87 | 25.50 | |||
| CENTUM | 3.27 | 0.27 | 0.07 | 0.34 | 3.83 | 7.70 | 21.87 | |||
| TAINWALCHM | 1.89 | 0.03 | 0.00 | 0.04 | 0.00 | 5.25 | 10.72 | |||
| NUCLEUS | 2.35 | (0.20) | 0.00 | 0.28 | 0.00 | 5.00 | 10.00 | |||
| PUNJABCHEM | 2.28 | (0.07) | 0.00 | 0.17 | 0.00 | 4.32 | 16.89 | |||
| KOTHARIPET | 2.31 | (0.29) | 0.00 | (1.42) | 0.00 | 4.54 | 12.51 | |||
| SUDARSCHEM | 2.21 | 0.51 | 0.23 | 2.21 | 1.61 | 6.45 | 17.67 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ICICI Bank 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.Did you try this?
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Portfolio RebalancingAnalyze risk-adjusted returns against different time horizons to find asset-allocation targets |
| All Next | Launch Module |
ICICI Bank Corporate Management
Elected by the shareholders, the ICICI Bank's board of directors comprises two types of representatives: ICICI Bank inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ICICI. The board's role is to monitor ICICI Bank's management team and ensure that shareholders' interests are well served. ICICI Bank'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, ICICI Bank's outside directors are responsible for providing unbiased perspectives on the board's policies.
| LLB BA | Group Counsel | Profile | |
| Sanjay Chougule | Group Auditor | Profile | |
| Akashdeep Sarpal | Country USA | Profile | |
| Anindya Banerjee | Group Relations | Profile | |
| Rajendra Khandelwal | Chief Accountant | Profile | |
| Prachiti Lalingkar | Company Officer | Profile | |
| Ranganath Athreya | Company Officer | Profile |
Already Invested in ICICI Bank Limited?
The danger of trading ICICI Bank Limited is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ICICI Bank is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ICICI Bank. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ICICI Bank Limited is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether ICICI Bank Limited offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ICICI Bank's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Icici Bank Limited Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Icici Bank Limited Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ICICI Bank Limited. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Complementary Tools for ICICI Stock analysis
When running ICICI Bank's price analysis, check to measure ICICI Bank's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ICICI Bank is operating at the current time. Most of ICICI Bank's value examination focuses on studying past and present price action to predict the probability of ICICI Bank's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ICICI Bank's price. Additionally, you may evaluate how the addition of ICICI Bank to your portfolios can decrease your overall portfolio volatility.
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