Azure Gross Profit from 2010 to 2024
AZREDelisted Stock | USD 0.34 1.24 78.48% |
Check Azure Power financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Azure main balance sheet or income statement drivers, such as , as well as many exotic indicators such as . Azure financial statements analysis is a perfect complement when working with Azure Power Valuation or Volatility modules.
Azure |
Pair Trading with Azure Power
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Azure Power position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Azure Power will appreciate offsetting losses from the drop in the long position's value.Moving together with Azure Stock
0.71 | SOJE | SOJE | PairCorr |
0.7 | SOJC | Southern | PairCorr |
0.68 | CMSA | CMS Energy Corp | PairCorr |
Moving against Azure Stock
0.6 | CVX | Chevron Corp Financial Report 26th of July 2024 | PairCorr |
0.44 | C | Citigroup Aggressive Push | PairCorr |
0.42 | DD | Dupont De Nemours Financial Report 7th of August 2024 | PairCorr |
The ability to find closely correlated positions to Azure Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Azure Power 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 Azure Power - 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 Azure Power Global to buy it.
The correlation of Azure Power 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 Azure Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Azure Power Global 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.
Correlation analysis and pair trading evaluation for Azure Power can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Consideration for investing in Azure Stock
If you are still planning to invest in Azure Power Global check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Azure Power's history and understand the potential risks before investing.
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