Zoomcar Holdings Correlations
| ZCAR Stock | 0.35 0.01 2.82% |
The correlation of Zoomcar Holdings 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 Zoomcar Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Zoomcar Holdings 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.
Modest diversification
The correlation between Zoomcar Holdings and NYA is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zoomcar Holdings and NYA in the same portfolio, assuming nothing else is changed.
Zoomcar |
The ability to find closely correlated positions to Zoomcar Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zoomcar Holdings 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 Zoomcar Holdings - 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 Zoomcar Holdings to buy it.
Moving together with Zoomcar Stock
| 0.71 | VSTS | Vestis | PairCorr |
| 0.75 | CAR | Avis Budget Group Financial Report 6th of May 2024 | PairCorr |
| 0.71 | HTZ | Hertz Global Holdings Downward Rally | PairCorr |
| 0.88 | YAYO | Yayyo Inc | PairCorr |
Moving against Zoomcar Stock
| 0.9 | TGH-PA | Textainer Group Holdings Earnings Call Tomorrow | PairCorr |
| 0.87 | FTAI | Fortress Transp Infra | PairCorr |
| 0.79 | AER | AerCap Holdings NV Financial Report 7th of May 2024 | PairCorr |
| 0.75 | AL | Air Lease Earnings Call This Week | PairCorr |
| 0.58 | GATX | GATX Financial Report 23rd of July 2024 | PairCorr |
| 0.55 | URI | United Rentals Financial Report 24th of July 2024 | PairCorr |
| 0.51 | HRI | Herc Holdings | PairCorr |
| 0.46 | PRG | PROG Holdings | PairCorr |
| 0.94 | TGH-PB | Textainer Group Holdings | PairCorr |
| 0.83 | ALTG-PA | Alta Equipment Group | PairCorr |
Related Correlations Analysis
| 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 Zoomcar Stock performing well and Zoomcar Holdings 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 Zoomcar Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| R | 1.34 | 0.01 | 0.02 | 0.09 | 1.81 | 2.06 | 11.79 | |||
| AL | 1.13 | 0.29 | 0.13 | 1.77 | 1.35 | 2.61 | 7.30 | |||
| VSTS | 1.60 | (0.26) | 0.00 | (0.12) | 0.00 | 2.71 | 15.04 | |||
| WLFC | 1.18 | (0.02) | (0.01) | 0.06 | 1.44 | 3.05 | 13.20 | |||
| AER | 0.98 | 0.11 | 0.10 | 0.21 | 0.87 | 2.18 | 5.20 | |||
| CAR | 2.52 | (0.95) | 0.00 | (0.21) | 0.00 | 4.99 | 28.89 | |||
| FPAY | 3.27 | (0.18) | 0.00 | (0.03) | 0.00 | 6.90 | 23.47 | |||
| FTAI | 1.57 | 0.40 | 0.26 | 0.36 | 1.34 | 4.28 | 9.15 | |||
| HRI | 1.61 | (0.07) | 0.02 | 0.05 | 2.44 | 3.46 | 15.36 | |||
| HTZ | 3.19 | (1.13) | 0.00 | (0.30) | 0.00 | 5.48 | 28.20 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Zoomcar Holdings 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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Zoomcar Holdings Corporate Management
Elected by the shareholders, the Zoomcar Holdings' board of directors comprises two types of representatives: Zoomcar Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zoomcar. The board's role is to monitor Zoomcar Holdings' management team and ensure that shareholders' interests are well served. Zoomcar Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Zoomcar Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sumeet Salhotra | Senior India | Profile | |
| Arpan Srivastava | Head Product | Profile | |
| Geiv Dubash | Chief Officer | Profile | |
| Ashu Singhal | Chief Officer | Profile |
Already Invested in Zoomcar Holdings?
The danger of trading Zoomcar Holdings 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 Zoomcar Holdings 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 Zoomcar Holdings. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Zoomcar Holdings 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 Zoomcar Holdings is a strong investment it is important to analyze Zoomcar Holdings' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Zoomcar Holdings' future performance. For an informed investment choice regarding Zoomcar Stock, refer to the following important reports: Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zoomcar Holdings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. To learn how to invest in Zoomcar Stock, please use our How to Invest in Zoomcar Holdings guide.Note that the Zoomcar Holdings information on this page should be used as a complementary analysis to other Zoomcar Holdings' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Complementary Tools for Zoomcar Stock analysis
When running Zoomcar Holdings' price analysis, check to measure Zoomcar Holdings' 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 Zoomcar Holdings is operating at the current time. Most of Zoomcar Holdings' value examination focuses on studying past and present price action to predict the probability of Zoomcar Holdings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zoomcar Holdings' price. Additionally, you may evaluate how the addition of Zoomcar Holdings to your portfolios can decrease your overall portfolio volatility.
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Is Zoomcar Holdings' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Zoomcar Holdings. If investors know Zoomcar will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Zoomcar Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Revenue Per Share 0.558 | Quarterly Revenue Growth (0.19) | Return On Assets (1.11) |
The market value of Zoomcar Holdings is measured differently than its book value, which is the value of Zoomcar that is recorded on the company's balance sheet. Investors also form their own opinion of Zoomcar Holdings' value that differs from its market value or its book value, called intrinsic value, which is Zoomcar Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Zoomcar Holdings' market value can be influenced by many factors that don't directly affect Zoomcar Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Zoomcar Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if Zoomcar Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Zoomcar Holdings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.