Cairn India which is an indirect play on global crude prices remains our top pick for 2013 in Indian Equity. We read Business Standard's Q3 FY13 result analysis for Cairn India.
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About Me
- Jigs
- Mumbai, India
- Author is a CA and a CWA by education and has worked in India, UK and USA. He has been active investor in Indian Equity Market since 1999 and follows combination of technicals (primary) and fundamentals (secondary) approach for investment and can be reached at jigs2004@rediffmail.com
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2 comments:
Hi Jigs,
Is there a co-relation b/w Crude and Abrasives stocks? The daily charts of Cairn and Grindwell over a 5 year period are strikingly similar.
Regards,
Roberto
Roberto,
I am happy to know this as such correlations exists across different industries but people don't know much.
You could be right though I have not studied this personally. The reason being Abrasive raw material grains - Electro Minerals are mined and so prices follow Crude price trend.
You can use Rank/Spearman Correlation coefficient and know exact degree of correlation :-).
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