DATA ANALYSIS AND INTERPRETATION

Data Analysis:
THE FOLLOWING ARE THE INTERPRETATIONS DONE TO CALCULATE
RETURN ON STOCK WITH RETURN OF SENSEX.

The following companies are taken for the

Interpretation Table 1. List of companies taken for interpretation

1 STATE BANK OF INDIA

2 RELIANCE
COMMUNICATION LTD
3 ITC LTD
4 HERO MOTO CORP LTD
5 BHEL
6 ICICI BANK
7 DR.REDDY’S
LABORATORIES LTD
8 BAJAJ AUTO LTD
9 BHARTI AIRTEL LTD
1 WIPRO LTD
0

1.
Table 2. Volatility of SBI
DATE STOC STOCK SENSEX SENSEX X*Y X^2 Y^2
K RETURN(Y RETURN(X
) )
OPEN CLOS OPEN CLOSE
PRICE E PRICE PRICE
PRICE

2/2/22 -0.69366026 29122.2 -0.07329217 0.05083986 0.4811645

309.95 307.8 8 29143.63 7 4 9 0.005372 7

3/2/22 -3.48874598 29000.1 -0.74359799 2.59422450 12.171348

311 300.20 1 29217.4 4 3 9 0.552938 5

4/2/22 -3.23432343 28883.1 -0.84703491 2.73958487 10.460848

303 293.2 2 29129.85 1 4 2 0.717468 1

5/2/22 -0.91993205 28850.9 -0.21240036 0.8462746

293.5 290.8 7 28912.38 7 3 0.19539386 0.045114 2

6/2/22 -0.39451114 28717.9 0.23799942 0.2056390

291.5 290.35 9 28892.21 1 -0.6032768 4 0.363943 5

9/2/22 -3.53448275 28227.3 -1.20708977 4.19574833 12.492568

290 279.75 9 28566.5 9 3 6 1.409202 4

10/2/22 28355.6 10.833096

278 287.20 3.291366906 28122.48 2 0.829016502 2.72859748 0.687268 1

11/2/22 -1.54905335 28533.9 -0.4557823

290.5 286 6 28450.26 7 0.294232812 25 0.086573 2.3995663

12/2/22 -1.42114384 -0.7681054 2.0196498

288.5 284.4 7 28650.25 28805.1 0.54048394 26 0.292123 4

13/2/22 29094.9 4.82102206 45.736344

287.6 307.05 6.76286509 28888.99 3 0.712866736 1 0.508179 2

16/2/22 29135.8 0.20773069 1.7391068

310.9 306.8 -1.32075201 29170.77 8 -0.11960603 3 0.014306 6

20/2/22 -0.53710937 29320.2 -0.3395453 0.2884864

307.2 305.55 5 29136.07 6 0.632171738 67 0.399641 8

19/2/22 -1.42032409 29462.2 -0.1320344 2.0116432

306.7 302.35 5 29434.91 7 0.092950853 35 0.00864 4

20/2/22 -0.01653986 29231.4 -0.72946569 0.01206526 0.0002735

302.3 302.25 1 29446.21 1 4 1 0.53212 7

23/2/22 28975.1 -1.16476751 2.72617417 5.4780842

303.35 296.25 -2.34053074 29316.58 1 4 1 1.356683 0
 24/2/22 -0.48723120 29004.6 -0.04097662 0.01996508 0.2373942
297.6 296.20 3 29016.55 6 0 5 0.001679 3

25/2/22 -0.82214765 29007.9 -0.36863754 0.30307448 0.6759267

298 295.55 1 29120.32 9 2 9 0.135894 6

26/2/22 -2.80295401 28746.6 -1.05070580 2.94508005 7.8565511

297.9 289.55 1 29051.9 5 6 3 1.103983 9

27/2/22 29220.1 3.37005120 7.5086699

291.95 299.95 2.740195239 28865.12 2 1.229858043 5 1.512551 5

28/2/22 -1.27659574 -0.16942450 0.21628660

305.5 301.6 5 29411.33 29361.5 4 1 0.028705 1.6296967

-13.4616100 -2.97869509 25.6205698 9.76236099 125.02233

SUM 9 8 7 4 3

SCRIPT STATISTICS

BETA 2.534000754

STD Y 2.407920114

STD X 0.70032811

COVAR 1.200683413

Source - Interpretation:
The above table shows the Volatility of SBI Returns. Since the beta of the company is more,
then it is more volatile. The value of the correlation coefficient is always between -1 and
+1.The Coefficient of Correlation of the company is 0.70. It means that when market return
increases, the company’s return also increases. A positive or direct correlation indicates that
the series move together, as one increases, the other also increases. It is rare that one comes
across perfect correlation, that is, a correlation coefficient of exactly -1.0 or +1.0.
FIG SBI VS SENSEX
 Table 3.Volatility of Reliance Communication Ltd

REL. STOCK STOCK SENSEX SENSEX X*Y X^2 Y^2

RETURN RETURN(X)
COM OPEN CLOSE OPEN CLOSE
PRICE PRICE (Y) PRICE PRICE

2/2/22 0.00537
80.20 80.55 0.499064255 29143.63 29122.27 -0.073292174 -0.036577504 2 0.249065

3/2/22 -4.07407407 0.55293

81 77.7 4 29217.4 29000.14 -0.743597993 3.029473305 8 16.59808

4/2/22 -0.89171974 0.71746

78.5 77.8 5 29129.85 28883.11 -0.847034914 0.755317758 8 0.795164

5/2/22 -7.29833546 0.04511

78.1 72.4 7 28912.38 28850.97 -0.212400363 1.550169101 4 53.2657

6/2/22 -2.27900552 0.36394

72.4 70.75 5 28892.21 28717.91 -0.6032768 1.374871161 3 5.193866

9/2/22 -4.38472420 1.40920

70.7 67.6 7 28566.5 28227.39 -1.207089773 5.205061239 2 19.22581

10/2/2 0.68726
2 67.65 68.4 1.10864745 28122.48 28355.62 0.829016502 0.919087031 8 1.229099

11/2/2 0.08657
2 69.05 70.4 1.955104996 28450.26 28533.97 0.294232812 0.575256041 3 3.822436

12/2/2 0.29212
2 70.7 71.1 0.565770863 28650.25 28805.1 0.54048394 0.305790065 3 0.320097

13/2/2 0.50817
2 71.7 72.05 0.488145049 28888.99 29094.93 0.712866736 0.347982368 9 0.238286

16/2/2 0.01430
2 73.7 75.20 1.96743555 29170.77 29135.88 -0.11960603 -0.235317206 6 3.870803

20/2/2 -2.97619047 0.39964

2 75.6 73.35 6 29136.07 29320.26 0.632171738 -1.881463505 1 8.85771

19/2/2 -3.58108108
2 74 71.35 1 29434.91 29462.27 0.092950853 -0.332864542 0.00864 12.82414

20/2/2
2 71.6 72 0.558659220 29446.21 29231.41 -0.729465694 -0.407522734 0.53212 0.3121

23/2/2 -3.50274725 1.35668

2 72.8 70.25 3 29316.58 28975.11 -1.164767514 4.079886209 3 12.26924

24/2/2 -2.68931351 0.00167

2 70.65 68.75 7 29016.55 29004.66 -0.040976620 0.110198965 9 7.232407
 25/2/2 0.13589
2 69.1 68.95 -0.2170767 29120.32 29007.99 -0.368637542 0.080022621 4 0.047122

26/2/2 -2.24637681 1.10398

2 69 67.45 2 29051.9 28746.65 -1.050705806 2.360281208 3 5.046209

27/2/2 1.51255
2 68.1 69.7 2.34948605 28865.12 29220.12 1.229858043 2.889534316 1 5.520085

28/2/2 -2.83889283 0.02870

2 70.45 68.45 2 29411.33 29361.5 -0.169424504 0.48097801 5 8.059313

-27.4872242 9.76236
SUM 4 -2.978695098 21.17016391 1 164.9767

SCRIPT STATISTICS

BETA 1.832477314

STD Y 2.522097620

STD X 0.682595406

COVAR 0.853820045

COEF COR 0.495992023

Source - Interpretation:
The above table shows the Volatility of RELIANCE INDUSTRIES LTD Returns. Since the
beta of the company is more, then it is more volatile. The value of the correlation coefficient is
always between -1 and +1. The Coefficient of Correlation of the company is 0.49. It means that
when market return increases, the company’s return also increases. A positive or direct
correlation indicates that the series move together, as one increases, the other also increases. It
is rare that one comes across perfect correlation, that is, a correlation coefficient of exactly.
FIG: RELIANCE VS SENSEX
Table 4. Volatility of ITC

ITC STOC STOCK SENSEX SENSEX X*Y X^2 Y^2

K RETURN(Y RETURN(X)
OPEN CLOS ) OPEN CLOS
PRICE E PRICE E
PRICE PRICE
2/2/22 29143.6 0.00537 3.08794
367.05 360.6 -1.75725378 3 29122.27 -0.073292174 0.12879295 2 1

3/2/22 -1.27031323 0.55293 2.92040

360 366.20 1.708333333 29217.4 29000.14 -0.743597993 8 8 3

4/2/22 29129.8 0.31081737 0.71746

367.9 366.55 -0.36694754 5 28883.11 -0.847034914 8 8 0.13465

5/2/22 28912.3 -0.03751636 0.04511 0.03119

368 368.65 0.176630435 8 28850.97 -0.212400363 8 4 8

6/2/22 28892.2 -1.06847389 0.36394 3.13685

367 373.5 1.771117166 1 28717.91 -0.6032768 7 3 6

9/2/22 -1.24832214 1.48207045 1.40920 1.55830

372.5 367.85 8 28566.5 28227.39 -1.207089773 5 2 8

10/2/2 28122.4 0.41670439 0.68726 0.25265

2 368.05 369.9 0.502649097 8 28355.62 0.829016502 6 8 6

11/2/2 28450.2 0.10735522 0.08657 0.13312

2 370 371.35 0.364864865 6 28533.97 0.294232812 0 3 6

12/2/2 -0.10781671 28650.2 -0.05827320 0.29212 0.01162

2 371 370.6 2 5 28805.1 0.54048394 1 3 4

13/2/2 28888.9 1.33506435 0.50817 3.50741

2 371.1 378.05 1.872810563 9 29094.93 0.712866736 3 9 9

16/2/2 29170.7 -0.39820800 0.01430 11.0816

2 377 389.55 3.328912467 7 29135.88 -0.11960603 5 6 6

20/2/2 29136.0 1.14791236 0.39964 3.29722

2 385.5 392.5 1.820823606 7 29320.26 0.632171738 4 1 0

19/2/2 -0.99236641 29434.9 -0.09224130 0.98479

2 393 389.1 2 1 29462.27 0.092950853 5 0.00864 1

20/2/2 29446.2 -1.90969505 6.85359

2 385.8 395.9 2.617936755 1 29231.41 -0.729465694 1 0.53212 3

23/2/2 -1.45238696 29316.5 1.69169320 1.35668 2.10942

2 395.9 390.20 6 8 28975.11 -1.164767514 6 3 8
 24/2/2 29016.5 0.00167 0.96460
2 392 395.85 0.982142857 5 29004.66 -0.040976620 -0.04024489 9 5

25/2/2 29120.3 -0.33047052 0.13589 0.80364

2 396 399.55 0.896464646 2 29007.99 -0.368637542 4 4 9

26/2/2 -0.76498620 0.80377544 1.10398 0.58520

2 398.7 395.65 5 29051.9 28746.65 -1.050705806 7 3 4

27/2/2 -0.30379746 28865.1 1.51255 0.09229

2 395 393.8 8 2 29220.12 1.229858043 -0.37362776 1 3

28/2/2 -8.07888040 29411.3 1.36876030 0.02870 65.2683

2 393 361.25 7 3 29361.5 -0.169424504 7 5 1

9.76236 106.812
1 9
3.21373178
SUM 0.964928201 -2.978695098 2

SCRIPT STATISTICS

BETA 0.360289782

STD Y 2.310480177

STD X 0.682595406

COVAR 0.167872206

COEF COR 0.106442008

Source: Interpretation:

The above table shows the Volatility of HERO MOTO CORP Returns. Since the beta of
the company is more, then it is more volatile. The value of the correlation coefficient is
always between -1 and +1. The Coefficient of Correlation of the company is 0.10. It
means that when market return increases, the company’s return also increases. A positive
or direct correlation indicates that the series move together, as one increases, the other
also increases. It is rare that one comes across perfect correlation, that is, a correlation
coefficient of exactly -1.0 or +1.0.
Fig 4. ITC vs Sensex
Table 5.Volatility of Hero Moto Corp

HERO STOCK STOCK SENSEX SENSEX X*Y X^2 Y^2

MOTO RETURN(Y RETURN(X
OPEN CLOS OPEN CLOSE
R ) )
PRIC E PRICE PRICE
CORP
E PRICE

2/2/22 -1.39502522 29122.2 -0.07329217

2874.5 2834.4 2 29143.63 7 4 0.102244431 0.005372 1.946095

3/2/22 2848.6 -1.27428782 29000.1 -0.74359799

5 2812.35 1 29217.4 4 3 0.947557866 0.552938 1.623809

4/2/22 28883.1 -0.84703491 -1.52039720

2780 2829.9 1.794964029 29129.85 1 4 2 0.717468 3.222096

5/2/22 28850.9 -0.21240036 -0.13552078

2829 2847.05 0.638034641 28912.38 7 3 9 0.045114 0.407088

6/2/22 -2.64448336 28717.9

2855 2779.5 3 28892.21 1 -0.6032768 1.595355461 0.363943 6.993292

9/2/22 -1.39139862 28227.3 -1.20708977

2767 2728.5 7 28566.5 9 3 1.65172008 1.409202 1.93599

10/2/22 2714.2 28355.6

0 2720.65 0.239485658 28122.48 2 0.829016502 0.198537563 0.687268 0.057353

11/2/22 2724.3 28533.9

5 2752.45 1.031438692 28450.26 7 0.294232812 0.303483107 0.086573 1.063866

12/2/22 2760 2805.35 1.643120942 28650.25 28805.1 0.54048394 0.888077778 0.292123 2.69983

13/2/22 29094.9
2845 2852.5 0.263620387 28888.99 3 0.712866736 0.207926204 0.508179 0.069496
16/2/22 -0.83922262 29135.8
2830 2806.25 0 29170.77 8 -0.11960603 0.100376085 0.014306 0.704295
20/2/22 -1.89871086 29320.2 -1.20031134
2720 2663.45 6 29136.07 6 0.632171738 7 0.399641 3.605103
19/2/22 -0.36608143 29462.2 -0.03402758
2677 2667.2 4 29434.91 7 0.092950853 2 0.00864 0.134016
20/2/22 -0.19324577 29231.4 -0.72946569
2665 2659.85 9 29446.21 1 4 0.140966166 0.53212 0.037344
23/2/22 -0.49624060 28975.1 -1.16476751
2660 2646.8 2 29316.58 1 4 0.578004932 1.356683 0.246255
24/2/22 -0.20816826 29004.6 -0.04097662
2655.4 2651.2 1 29016.55 6 0 0.0064812 0.001679 0.025017
 25/2/22 -1.66479400 29007.9 -0.36863754
2670 2625.55 7 29120.32 9 2 0.613705571 0.135894 2.772039

26/2/22 -0.16919508 28746.6 -1.05070580

2630.1 2625.65 8 29051.9 5 6 0.177774261 1.103983 0.028627

27/2/22 29220.1
2630 2670.35 1.534220532 28865.12 2 1.229858043 1.886873462 1.512551 2.353833

28/2/22 2673.9 -0.16942450 -0.05512420

5 2682.65 0.325361357 29411.33 29361.5 4 7 0.028705 0.10586

6.43370006 9.762361 30.0306

-5.02061244 -2.97869509
SUM 4 8

SCRIPT STATISTICS

BETA 0.610164316

STD Y 1.199380599

STD X 0.682595406

COVAR 0.284297819

COEF COR 0.34725871

Source: Interpretation:

The above table shows the Volatility of Hero Moto Corp Returns. Since the beta of the
company is more, then it is more volatile. The value of the correlation coefficient is always
between -1 and +1. The Coefficient of Correlation of the company is 0.34. It means that
when market return increases, the company’s return also increases. A positive or direct
correlation indicates that the series move together, as one increases, the other also increases.
It is rare that one comes across perfect correlation, that is, a correlation coefficient of
exactly -1.0 or
+1.0.
Fig 5.Hero Moto Corp Ltd vs SenseTable

Fig 5.Hero Moto Corp Ltd vs

Sensex
Table 6. Volatility of BHEL

BHEL STOC STOCK SENSEX SENSEX X*Y X^2 Y^2

K RETURN(Y RETURN(X
) )
OPEN CLOS OPEN CLOSE
PRICE E PRICE PRICE
PRICE

2/2/22 29122.2 -0.07329217 -0.0496896

291.8 293.65 0.633995888 29143.63 7 4 09 0.005372 0.401951

3/2/22 29000.1 -0.74359799 3.33809484

295 297 0.677966102 29217.4 4 3 3 0.552938 0.459638

4/2/22 - 28883.1 -0.84703491 2.22903924

1 4 8
298.5 285.1 4.4891122 29129.85 0.717468 20.20213
2
8
5/2/22 - 28850.9 -0.21240036 1.01799092
7 3 8
285 277.5 2.6320789 28912.38 0.045114 6.925208
4
7
6/2/22 - 28717.9 0.52006620
1 -0.6032768 7
277.5 264.2 4.7927927 28892.21 0.363943 22.97086
9
3
9/2/22 - 28227.3 -1.20708977 -1.4706493
9 3 51
261 258.75 0.8620689 28566.5 1.409202 0.743163
6
6
10/2/22 28355.6 -2.3361470
2 0.829016502 36
258.3 261.5 1.2388695 28122.48 0.687268 1.534798
32
11/2/22 - 28533.9 1.70207727
7 0.294232812 3
262.6 255.2 2.8179741 28450.26 0.086573 7.940978
0
5
12/2/22 1.84109071
28805.1 0.54048394 2
253.25 267.9 5.7847976 28650.25 0.292123 33.46388
31
13/2/22 29094.9 -0.0823964
3 0.712866736 63
251 259.55 3.4063745 28888.99 0.508179 11.60339
02
 16/2/22 -0.12058466 29135.8 -0.0346349
259.55 259.25 6 29170.77 8 -0.11960603 51 0.014306 0.01336

20/2/22 29320.2
259 259.75 0.28957529 29136.07 6 0.632171738 0.40120591 0.399641 0.083854

19/2/22 29462.2 0.43117886

260 261.65 0.634620385 29434.91 7 0.092950853 3 0.00864 0.402737

20/2/22 29231.4 -0.72946569 1.09288202

263 275.2 4.63878327 29446.21 1 4 0 0.53212 21.52031

23/2/22 -1.49819494 28975.1 -1.16476751 -2.11387688

277 272.85 6 29316.58 1 4 1 1.356683 2.244588

24/2/22 29004.6 -0.04097662 0.06547430

272.75 277.7 1.814848763 29016.55 6 0 4 0.001679 3.293676

25/2/22 -1.59784560 29007.9 -0.36863754

278.5 274.05 1 29120.32 9 2 1.08860316 0.135894 2.553111

26/2/22 -2.95304475 28746.6 -1.05070580 -2.03655811

272.6 264.55 4 29051.9 5 6 1 1.103983 8.720473

27/2/22 29220.1 -5.7467912

265.7 270.85 1.938276251 28865.12 2 1.229858043 2 1.512551 3.756920

28/2/22 -4.67272727 -0.16942450 0.91028764

275 262.20 3 29411.33 29361.5 4 6 0.028705 21.83438

170.6174
-5.37282166 -2.97869509 0.76722728 9.76236099
SUM 7 8 8 4

SCRIPT STATISTICS

BETA 1.941048838

STD Y 2.908384779

STD X 0.682595406

-0.55808978
COVAR 8

COEF COR -0.28112012

8

Source: Interpretation:
The above table shows the Volatility of BHEL Returns. Since the beta of the company is
more, then it is more volatile. The value of the correlation coefficient is always between -
1 and +1. The Coefficient of Correlation of the company is -0.28. It means that when
market return increases, the company’s return also decreases.. A negative correlation
indicates that the series move away, as one increases, the other decreases. It is rare that
one comes across perfect correlation, that is, a correlation coefficient of exactly -1.0
or +1.0.
the company is more, then it is more volatile. The value of the
correlation coefficient is always between -1 and +1. The Coefficient of
Correlation of the company is 0.10. It means that when market return
increases, the company’s return also increases. A positive or direct
correlation indicates that the series move together, as one increases, the
other also increases. It is rare that one comes across perfect correlation,
that is, a correlation coefficient of exactly -1.0 or +1.0.