NORTH SOUTH UNIVERSITY

Group: Turning Point

Fin-435.2
Submitted By,
NAME ID.
IMAM IQRAMUL HASAN 142 0493 030
ZHINIA SHAHAB 133 0078 030

Submitted To,
Mr. Mokhdum Morshed
Senior Lecturer
Department of Accounting & Finance
 Acknowledgement

First of all we are very much grateful to almighty Allah for giving us the patience and the ability

to work hard with tremendous devotion.

We would also like to accept this opportunity to express our sincere gratitude to those people

without their blessing and cooperation this project would not have been possible.

We are highly grateful to our course instructor Mr. Mokhdum Morshed (MdM), senior lecturer,

Department of Accounting & Finance, North South University for his devoted guidance, constant

and constructive encouragement to complete this project effectively & efficiently.

Introduction:
Portfolio Analysis (PA) originated in the financial markets as a way of utilizing portfolios of
assets to maximize the return on investments, subject to a given level of risk. The principle is
that spreading investments over a range of asset types spreads risks at the same time. Since
individual assets are likely to have different and unpredictable rates of return over time, an
investor may be better advised to maximize the expected rate of return and minimize the
variance and co-variance of their asset portfolio as a whole, rather than managing assets
individually. As long as the co-variance of assets is low then the overall portfolio risk is
minimized, for a given rate of overall return. Aggregate returns for an individual investor are
therefore likely to be higher when low returns on an individual stock are at least partly offset by
higher returns from other stocks during the same period.

PA helps in the design of such portfolios. It highlights the trade-off between the returns on an
investment and the riskiness of that investment. It measures risk by estimating the variance
(standard deviation) of the portfolio return, thus a portfolio with a relatively high (low) variance
is judged to have a higher (lower) risk. The information on returns and risks is used to identify a
portfolio that most closely matches preferences.

The most effective and efficient way to invest in stock is by forming a portfolio .A portfolio is a
grouping of financial assets such as stocks, bonds and cash equivalents, as well as their funds
counterparts, including mutual, exchange-traded and closed funds. Portfolio management is the
art and science of making decisions about investment mix and policy, matching investments to
objectives, asset allocation for individuals and institutions, and balancing risk against
performance. Portfolio Selection is the process of selecting the Portfolio that will be included in
scope for execution through a series of leadership investment decisions.
 Company profile

Zeal Bangla: The principle activities of the company were manufacturing and sales of white
sugar and molasses which were produced from sugar cane. Both sugar and molasses sold in the
local market to growers, employees and ministry of defense.

Zahin Spinning- Zaheen Spinning Limited produces and sells cotton yarns in Bangladesh. The
company was founded in 2007 and is headquartered in Dhaka, Bangladesh. Constant
commitment to high quality standards and innovation has been the secret of success ever since
the company was founded. Zaheen Spinning units ensure the supply of consistent quality yarn to
manufacture the garments & Textiles. Our Spinning Units leads the quality of yarn in the market.
Ultimately, the crunch lies in the infusion of hi-tech, state-of-the-art machinery that aids in the
production of high quality 100% cotton yarn, in counts that range from NE 20s to 120s in single
and doubles. Coupled with global standards of process manufacturing that turn out year of
superior quality in durability as well as to finish. To produce superior quality garments and
Textiles, we ensure that every kilogram of yarn supplied from Zaheen Spinning unit conforms to
International standard and with zero complaint.

Uttara Bank: This well established and ancient bank has a rich history. With the initiation of
some renown Bengali businessmen it was established to facilitate the disadvantaged people of
the then East Pakistan and started its banking operation officially on 28th January of 1965 in
name of “Eastern Banking Corporation” with four branches which soon reached 60 just before
the independence. During Non-cooperation movement in 1971, this bank performed the treasury
function of East Bengal.

Uttara Finance: Uttara Finance and Investments Limited have been operating as Financial
Institution since 7 May 1995 under license from Bangladesh Bank (Central Bank). The company
extends lease, loans and asset management services. The company's clientele base is from SME
to large corporate houses.

Summit power: Incorporated in Singapore, Summit Power International (SPI) is a leading

infrastructure developer and operator in South Asia. SPI comprises a group of businesses which
focus on developing, owning and operating power generating assets. Our portfolio of
infrastructure assets produce reliable energy for sale to governments and state utilities, in return
providing long-term predictable revenue streams.

Standard Ceramic: Standard Ceramic Industries Ltd. a public limited company with an
authorized capital of Tk. 100 million was floated on 13.08.1984. The factory was designed by
famous ceramist Mr. Kyoki Yamazaki of Sone Ceramic, Japan (Later a JODC expert). The
operating machinery was mainly procured from famous producer of Japan. The factory went into
commercial production on September 1st. 1993. The factory is located 10 Km from Dhaka
International Airport. It has a working force of 600 people. Through the active and dedicated
participation of all SCI personnel, the factory is now turning out approximately 47,000 assorted
pieces (13.1 M.Tons) of tableware per day. The superb quality and design of vitrified Stoneware
Products coupled with competitive price made our product a popularly choice at home and
abroad. SCI Products are available in 4 continents of the world including the United States and
European markets.

Social Islami Bank: The SOCIAL ISLAMI BANK LTD (SIBL), a second-generation
commercial bank, operating since 22nd November, 1995 based on Shariah' Principles, has now
149 branches all over the country with two subsidiary companies - SIBL Securities Ltd. & SIBL
Investment Ltd. Targeting poverty, SOCIAL ISLAMI BANK LTD, is indeed a concept of 21st
century participatory three sector banking model in one. In the formal sector, it works as an
Islamic participatory commercial bank with human face approach to credit and banking on the
profit and loss sharing. It has a Non-formal banking sector too with informal finance and
investment package that empowers and humanizes real poor family and create local income
opportunities and discourages internal migration. The bank has another sector to monetize the
voluntary sector and management of Waqf, Mosque properties and has introduced cash Waqf
system for the first time in the history of banking. In the formal corporate sector, this Bank,
among others, offers the most up-to-date banking services through opening of various types of
deposit and investment accounts, financing trade, providing letters of guarantee, opening letters
of credit, collection of bills, leasing of equipment and consumers' durable, hire purchase and
instalment sale for capital goods, investment in low-cost housing and management of real
estates, participatory investment in various industrial, agricultural, transport, educational and
health projects and so on.

Standard Bank Ltd: Standard Bank Limited (SBL) was incorporated as a Public Limited
Company on May 11, 1999 under the Companies Act, 1994 and the Bank achieved satisfactory
progress from its commercial operations on June 03, 1999. SBL has introduced several new
products on credit and deposit schemes. It also goes for Corporate and Retail Banking etc. The
Bank also participated in fund Syndication with other Banks. Through all these myriad activities
SBL has created a positive impact in the Market.
Standard Insurance: Standard Insurance Limited. (SIL) is one of the leading General Insurance
Company in Bangladesh. The company was incorporated as a public limited company on 3rd
November 1999 under the Companies Act 1994 and obtained registration from the Controller of
Insurance on 23-12-1999 under Insurance Act 1938. The authorized capital of the company is
Tk. 1000 million consisting of 100,000,000 ordinary shares of Tk. 10 each. The sponsor
/subscribers have already contributed to the paid up capital of Tk. 35.78 million.

Square Textile ltd: SQUARE has over 12 years of experience in yarn spinning. The industry is
one of the largest producer of knitting & weaving yarns in Bangladesh. Today it has one of the
most sophisticated vertically integrated set-ups by which we are producing 90,000 kg of yarns
every day. We are recognized by our valued customers through quality products with committed
services.

Sonar Bangla Insurance: The businesses of the company covers fire, marine, motor and all
kinds of miscellaneous insurance. Sonar Bangla Insurance Ltd basically non life insurance
company which has vision is become premier insurance company. Sonar Bangla Insurance
Limited (SBI) a third generation non-life insurance Company was incorporated on March 14,
2000 as a Public Limited Company under the Companies Act.1913 with the vision to become a
premier non-life insurance Company. It obtained the certificate of registration for carrying
insurance business from the Chief Controller of Insurance on April 26, 2000. The Company
started its business with a paid up Capital of Tk. 6.00 crore against the authorized Capital of Tk.
20.00 crore being sponsored by group of re-noun business personalities and reported industrialist
of the country having involvement diversified business. Presently its Authorized Capital is Tk.
100.00 crore and paid up Capital is Tk. 25,04,40,960/-.Mr. Sheikh Kabir Hossain is an eminent
social personality in Bangladesh. He is the Hon'ble Chairman of the Company as well as the
President of the Bangladesh Insurance Association.
Sandhani Life Insurance: SLIC is one of the leading Life Insurance Company in Bangladesh
since 1990. Clients are the spirit of our business, so we build a genial & realistic relationship
with clients. SLIC enlarge its network by establishing agency offices. As a result in 31st
December 2014 9.09 lack Policyholder is now under the shade of Sandhani. SLIC provide Life
Insurance coverage in the remote area as well as within all the people of the country.

Saif Powertec Ltd: SAIF POWERTEC LTD is one of the largest company of Bangladesh
keeping its territory into the world of engineering service of the energy sector of Bangladesh. We
are occupied in sales and service of construction, materials handling and power production
equipment in Bangladesh by exclusive agreement with world renowned producer. We been
registered & transformed to a Private Limited Company in 2003, before it was SaifPowertec
Corporation. We have diversity our business activity of port operation which in turn give us the
contract for complete terminal operation of Chittagong Port Authority (CPA), Pangaon ICD and
Kamalapur ICD (KICD).

Reliance Insurance: A leading First Generation Private Sector Non-Life Insurance Company in
Bangladesh, Reliance Insurance Limited (RIL) was incorporated in 1988 as a Public Limited
Company and commenced its operation from the same year. Reliance transacts all classes of
non-life insurance business in Bangladesh. For the last 29 years, Reliance Insurance Limited,
from the very moment of its emergence has shown excellence in all its services for its
stakeholders.
Pragati Insurance: PRAGATI INSURANCE LIMITED(PIL) is a leading private non-life
insurance company in Bangladesh. It was established in 1986 by a group of young Bangladeshi
entrepreneurs who had earlier launched a Commercial Bank in the private sector also. These
Sponsors included Shipping Magnates, Engineers, Road Builders and Top Garment
Industrialists. The company offers a complete range of general insurance products and services
in motor, marine, energy, property and casualty, health, accident and liability areas.

Pharma Aids Ltd: Pharma Aids Limited was established with a mission to produce the highest
quality of Neutral Glass Ampoules. The machines are of France and Italy origin. This factory
was the first of its kind in Bangladesh.

Padma Oil: Padma Oil Company Limited engages in the procurement, storage, and marketing of
petroleum products, lubricants and greases, bitumen, and LPG in Bangladesh. The company
operates through two segments, Petroleum and Agro-chemicals. Its petroleum products include
jet A-1, octane, petrol, kerosene, diesel, LDO, JBO, furnace and lube oils, SBP, and MTT for
transport, power, and agriculture sectors. It also manufactures and markets agro chemicals
products, as well as offers seeds. The company was formerly known as Burmah Eastern Limited
and changed its name to Padma Oil Company Limited in September 1988. The company was
founded in 1965 and is headquartered in Chittagong, Bangladesh. Padma Oil Company.
 Padma Islami Life Insurance: Padma Islami Life Insurance Ltd. emerged as the 1st full-fledged
Islami Life Insurance Company in the country in the year 2000 and has, by the grace of almighty
Allah, been able to earn confidence of the common people of the country. Abide by Shariah
Principles in day to day life Insurance business affairs build a dynamic, sound and professional
management team Conduct business in a responsible manner. Develop innovative products.
Enhance good governance. Faster Quality Management System.

The peninsula Chittagong Ltd: Situated at the prestigious GEC circle of the Port City, our hotel
provide superior services combining western sophistication and Chittgonian hospitality in a
scenic and convenient location. Discover this unique retreat for business or pleasure just minutes
from the commercial center surrounded by famous retail shops, restaurants and corporate
offices. The Peninsula Chittagong Hotel offers a premier setting for conferences, meetings, and
corporate events. Treat your colleagues to a gracious environment, where personalized service is
the standard. For your next important event, choose from our wide range of meetings rooms and
venue options.

Prime textile spinning Mills: Prime textile spinning Mills Limited, one of the largest textile mills in Bangladesh,
was incorporated in 1989 as Publicly Listed Company and started production in 1992 being run on European
standard with the state of art technology. From back process to finishing, the line is running with the machineries
from Germany, USA, Italy, Switerzerland and Japan with 53,044 Spindles & 2112 Rotors.
This is a 100% export oriented textile spinning mill. The location of the mill is at Pagla, Dist. Narayangonj. The
power supply of this company is met with self generation of power by 9 nos. gas generators of 920 KW
each. Apart there is a 33 KV directed dedicated power line kept on standby.
Southeast Bank: Southeast Bank Limited was established in 1995 with a dream and a vision to become a pioneer
banking institution of the country and contribute significantly to the growth of the national economy. The Bank
was established by leading business personalities and eminent industrialists of the country with stakes in various
segments of the national economy. The incumbent Chairman of the Bank is Mr. Alamgir Kabir, FCA, a
professional Chartered Accountant. Southeast Bank is run by a team of efficient professionals. They create and
generate an environment of trust and discipline that encourages and motivates everyone in the Bank to work
together for achieving the objectives of the Bank. The culture of maintaining congenial work - environment in the
Bank has further enabled the staff members to benchmark themselves better against management expectations. A
commitment to quality and excellence in service is the hallmark of their identity. Southeast Bank takes pride for
bringing women into the banking profession in a significant number for gender equality. At present, 18.14% of
SEBL's employees are women.

Samorita Hospital: Samorita Hospital since its inception in 1984 one of the pioneer private Hospital at Dhaka and
as a matter fact all over Bangladesh. The Hospital is situated at the heart of capital Dhaka in Panthapath. From day
one till today it has not compromised on quality services and emerged as one of the best hospitals in public sector.
At Samorita, patient can have access to over 100 consultant doctors from 25 sub-specialities. Our dedicated team
of health care professionals is committed to give each patient the best care. Keeping in mind the motto ‘we care by
our acts’. Samorita Hospital is serving for the last 32 years, providing both outdoor and indoor diagnostic services.

We try to give the highest priority to the best possible medical care for our patient.

Shahjalal Islami Bank: Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in
accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991. During
these years SJIBL has diversified its service coverage by opening new branches at different strategically important
locations across the country offering various service products both investment & deposit. Islamic Banking, in
essence, is not only INTEREST-FREE banking business, it carries deal wise business product thereby generating
real income and thus boosting GDP of the economy. Board of Directors enjoys high credential in the business
arena of the country, Management Team is strong and supportive equipped with excellent professional knowledge
under leadership of a veteran Banker Mr. Farman R. Chowdhury.

Union Capital Ltd: Established in 1998, UCL Financial Group is a diversified financial service provider based in
Dhaka. UCL has operations in both the principal segments of financial market: Capital market and financing &
investment activities. Together with its principal subsidiaries, UniCap Securities Limited and UniCap Investments
Limited, UCL Group offers a wide range of complementary investment products like term/lease finance, SME
finance, real estate finance, equity finance, etc., brokerage services, issue management, underwriting, portfolio
management and corporate advisory services.

Usmania Glass Factory Sheet: The Company was incorporated on 30th June, 1959 as a private limited company
with objectives set out in the Memorandum of Association which, inter alia, provided for establishment and
operation of a glass sheet Factory, with a view to associate a larger section of the public with a growing industry.
The company was converted into a public limited company on 27th October, 1962. Since its establishment the
Company is carrying on business satisfactorily. After Independence of Bangladesh the Government of Bangladesh
placed the Company under the control and management of Bangladesh Chemical Industries Corporation under the
relevant provision of Bangladesh Industrial Enterprises (Nationalization) order, 1972 (P.O.No.27 of 1972). In
pursuance of the policy of the Government of The People Republic of Bangladesh 49% of the shares of the
Company was offered for public subscription during 1987 after re-valuation of the assets as well as finalization of
the net worth of the company. The Financial restructure was made by the Government of the people Republic of
Bangladesh under P.O.No.27 of 1972 as amended by the Bangladesh Enterprise (Nationalization) (Amendment)
ordinance, 1987 (ordinance No.VII of 1987).
Prime Bank Ltd: Prime Bank Limited, together with its subsidiaries, provides various commercial banking
products and services in Bangladesh and internationally. The company offers retail banking products and services,
such as savings and current accounts; home, car, personal, marriage, CNG conversion, household durables,
education, retail SOD, doctor's, travel, hospitalization, and carnival loans, as well as loan against salary and retail
secured EMI loan products; credit and debit cards; and locker, Internet and SMS banking, premium and phone
banking, utility bills pay, and cash back services. It also provides corporate banking services, including export,
structured, and lease finance, as well as general c.

Rupali Bank Ltd: The principal activities of the bank are banking and related activities such as accepting deposits,
personal banking, trade financing, SME, trade and services, cash management, treasury, securities and custody
services, remittance services, treasury functions etc.

Rangpur Foundry Ltd:

RFL group is a professionally managed, ISO 9001 certified organization. It is dedicated to serve the need of Cast
Iron, PVC and plastic products in all the continents of the world. RFL is a listed and blue chip company in few
stock exchanges.

RFL Cast Iron products are the result of 30 years extensive service to Agriculture and people to supply pure
drinking water at the most cheapest cost in the world. It is the largest cast Iron foundry in Bangladesh and expands
its services with innovative products.
Orion Pharma Ltd: Orion Pharma Ltd. is one of the premier pharmaceutical companies of Bangladesh which has
been contributing to improving the human health care of the country by providing quality branded-generic
pharmaceuticals. We, at Orion Pharma Ltd., always believe in 'Quality never ends' and refuse to settle for anything
until it exceeds the existing standard. For this, Orion Pharma Ltd. has been superseding the market growth
consistently by wide margin in last few years. The company has been awarded with the ISO-9001: 2000 Certificate
in January 2003 for serving its valued customers with products of excellent quality.Having four decades of vast
experience imbibed with technical and professional expertise, now Orion Pharma Ltd.

Olympic Accessories: Olympic Accessories Limited manufactures and sells garment accessories in Bangladesh. It
manufactures, processes, prints, cuts, seals, and assembles various hangers, cartons, poly bags, stickers, photo
inlays, bar codes, hangtags, elastics, twill tapes, back and neck boards, tissue papers, gum tapes, interlinings,
labels, sewing threads, woven belts, photo cards, paper bands, size tags, price tags, draw cords, ribbons, etc. The
company supplies its products to export oriented garments industry. Olympic Accessories Limited was
incorporated in 2003 and is headquartered in Dhaka, Bangladesh.
S. Alam Cold & Rolled Steels Ltd: In the face of geometrically increasing demand of non-oxide furnace (NOF)
type GP/CI sheet throughout the world and in this region, S. Alam Cold Rolled Steels Limited has decided to set
up a NOF type continuous Galvanizing Line (CGL) with CTL plant for production of GP/CI sheets with most
modern and economic technology consuming the C.R Coils produced by the company, to meet the local demand of
the product and to export the same. The expanded CGL plant would utilize the Cold Rolled Coils (CRC) produced
by the existing plant of the company.

Saiham Textile Mills: Saiham Textile Mills Limited was established in 1982 with New Japanese machineries with
a capacity of producing 7 million yards of finished fabrics per year.On 1988 it was made into a public limited
company.
Reckitt Benckiser(BANGLADESH): Life is changing, getting faster and more demanding. We provide solutions
that help people deal with these new challenges. This is why we’re one of the fastest growing companies in one of
the fastest growing markets – we drive consumer health forward through innovation.
In fact, we've redefined the consumer health market by combining our in-depth consumer knowledge with the
speed of decision making we’ve gained in FMCG. Our culture of entrepreneurship puts ideas ahead of hierarchy,
so we get the best ideas developed rapidly. This is why our brands are market leaders in most categories.

Phoenix Insurance Company: Phoenix Insurance Company offers insurance for Fire, Motor, Marine, Cargo,
Hull, Miscellaneous, Cyclone, Flood, Earthquake, Engineering, Riot and Strike damage, Overseas
Mediclaim and Travel Insurance. The company has 31 branches located all over Bangladesh and provides
online insurance service through most of its branches. The Management of the company is equipped with a
cluster of professionally qualified people, skilled and dedicated stuff to render services to the clients as well
as the community. The year 2011 marked the 25th. Anniversary of Phoenix Insurance Company an age in
which it has fully budded and blossomed. Since inception in 1986 Phoenix Insurance has helped distressed
people achieve a better and more secure future for themselves and their families. Phoenix Insurance
Company is one of the leading first generation general insurance company in Bangaldesh founded in 1986.
Mr, Deen Mohammad, Chairman of the Phoenix Group along with Maj. Gen. Abdul Mannan Siddique
 (Retd) and a group of business entrepreneurs initially formed the company with a paid-up capital of Taka 30
million. Today, the paid-up capital of the company stands at TK. 300 million. Apart from business Phoenix
always extends help to it’s Social Corporate Responsibility as part of its business activity. The Company’s
19-Member Board of Directors comprises of a Chairman, Managing Director and a Secretary. Appointed as
Chairman of Phoenix Insurance Company on 2nd. August 2006 by the Board of Directors. Mr. Mohammed
Shoeb combines extensive experiences, skills and in-depth knowledge gained from a lifetime of
accomplishment, is responsible for overseeing and running all aspects of day-to-day operations.

AB Bank First Mutual Fund: AB Bank 1st Mutual Fund is a balance mutual fund launched by AB Bank Limited.
The fund is managed by RACE Management PCL. It invests in public equity and fixed income markets of
Bangladesh. AB Bank 1st Mutual Fund is domiciled in Bangladesh.
 Findings & Analysis
COMPANY NAME AM. SD.

1. ZEAL BANGLA SUGAR MILLS LIMITED 0.003803602 0.044175057

2. ZAHEEN SPINNING LTD. -0.00040984 0.02533311

3. UTTARA BANK LTD. 0.0005225 0.0188352

4. UTTARA FINANCE 0.000013612 0.016422805

5. SUMMIT POWER LTD. -0.000008404 0.014166216

6. STANDARD CERAMIC 0.002574770 0.031255362

7. SOCIAL ISLAMI BANK 0.000422799 0.019381859

8. STANDARD BANK LIMITED 0.000518158 0.018324036

9. STANDARD INSURANCE 0.000956269 0.029448263

10. SQUIARE TEXTILES LTD. -0.00047071 0.01105920

11. SONAR BANGLA INSURANCE 0.000065159 0.020561781

12. SANDHANI LIFE INSURANCE -0.000715317 0.019411625

13. SAIF POWERTEC LTD. -0.001339135 0.026031252

14. RELIANCE INSURANCE 0.00061276 0.01781466

15. PRAGATI INSURANCE LTD. 0.000181613 0.023860634

16. PHARMA AIDS LTD. 0.00163217 0.02227570

17. PADMA OIL COMPANY LTD. 0.000013270 0.014106071

18. PADMA ISLAMI LIFE INSURANCE LTD. 0.00016308 0.02344281

19. THE PENINSULA CHITTAGAONG LTD. 0.000525053 0.026430726

 20. PRIME TEXTILE SPINNING MILLS LTD. 0.00137785 0.02453027

21. SOUTH EAST BANK LTD. 0.00003376 0.01531836

22. SAMORITA HOSPITAL LTD. 0.00025745 0.02052446

23. SHAHJALAL ISLAMI BANK LTD. 0.001219497 0.017755651

24. UNION CAPITAL LTD. 0.00000838 0.02436247

25. USMANIA GLASS SHEET FACTORY LTD. 0.000976716 0.023971719

26. PRIME BANK LTD. 0.000086747 0.019253767

27. RUPALI BANK LTD. 0.00030562 0.02890650

28. RUPALI LIFE INSURANCE COMPANY LTD. 0.0007283 0.0224519

29. RANGPUR FOUNDRY LTD. 0.00086553 0.02120821

30. ORION PHARMA LTD. 0.000139315 0.015560009

31. OLYMPIC ACCESSORIES LTD. -0.00160438 0.02333166

32. S. ALAM COLD ROLLED STEELS LTD. 0.00027782 0.01948311

33. SAIHAM TEXTILE MILLS LTD. 0.000029719 0.019731348

34. RECKITT BENCKISER(BANGLADESH) 0.000264338 0.015184969

LTD.
35. PHOENIX INSURANCE COMPANY LTD. 0.000098067 0.020242175

36. AB BANK L FIRST MUTUAL FUND 0.000305130 0.017944735

Arithmetic Mean Return and Standard Deviation: Arithmetic mean return is the expected return based on
historical closing prices of stock. Standard deviation is a measure of the dispersion of a set of data from its mean.
The more spread apart the data, the higher the deviation. In finance we use standard deviation to measure the risk
of an asset. Zeal Bangla Sugar Mills ltd’s risk is higher than any other stock’s risk which is 0.044175057. For that
reason return will be higher. Overall risk will be reduced because of other stock. Zeal Bangla’s arithmetic mean is
higher compare to any other stock.
 COVARIANCE & CORRELATION OF STOCKS WITH INDEX

STOCKS WITH INDEX COVARIANCE CORRELATION

1. ZEAL BANGLA WITH DSEX -0.043117633 -0.043117633

2. ZAHEEN SPINNING LTD. WITH DSEX 0.00001062 0.07188189

3. UTTARA BANK LTD. WITH DSEX 0.0000115 0.1042831

4. UTTARA FINANCE WITH DSEX 0.000005573 0.058138773

5. SUMMIT POWER LTD. WITH DSEX 0.000008885 0.109505857

6. STANDARD CERAMIC WITH DSEX -0.000006786 -0.037170865

7. SOCIAL ISLAMI BANK WITH DSEX 0.000016749 0.147944880

8. STANDARD BANK LTD. WITH DSEX 0.000006859 0.064087968

9. STANDARD INSURANCE WITH DSEX 0.000007326 0.042799268

10. SQUUARE TEXTILES LTD. WITH DSEX 0.00000849 0.13130849

11. SONAR BANGLA INSURANCE WITH DSEX 0.000005063 0.040292978

12. SANDHANI LIFE INSURANCE WITH DSEX 0.000005063 0.044653373

13. SAIF POWERTEC LTD. WITH DSEX 0.000021643 0.142535083

14. RELIANCE INSURANCE WITH DSEX 0.00000056 0.00545197

15. PRAGATI INSURANCE LTD. WITH DSEX 0.000003270 0.023594674

16. PHARMA AIDS LTD. WITH DSEX 0.00000322 0.02471753

17. PADMA OIL COMPANY LTD. WITH DSEX 0.000009415 0.114267347

18. PADMA ISLAMI LIFE INSURANCE WITH DSEX LTD. 0.00001183 0.08638316

19. THE PENINSULA CHITTAGAONG LTD. WITH DSEX 0.000010493 0.067966197

20. PRIME TEXTILE SPINNING MILLS LTD. WITH DSEX 0.00000254 0.01774798

21. SOUTH EAST BANK LTD. WITH DSEX 0.00000000 0.00000000

22. SAMORITA HOSPITAL LTD. WITH DSEX 0.00001026 0.08556218

 23. SHAHJALAL ISLAMI BANK LTD. WITH DSEX 0.000009407 0.090697426

24. UNION CAPITAL LTD. WITH DSEX 0.00001838 0.12913984

25. USMANIA GLASS SHEET FACTORY WITH DSEX 0.000004376 0.031252763

LTD.
26. PRIME BANK LTD. WITH DSEX 0.000014084 0.125237505

27. RUPALI BANK LTD. WITH DSEX 0.00001505 0.08911328

28. RUPALI LIFE INSURANCE COMPANY LTD. WITH 0.0000048 0.0363626

DSEX
29. RANGPUR FOUNDRY LTD. WITH DSEX 0.00000712 0.05749023

30. ORION PHARMA LTD. WITH DSEX 0.000019089 0.209895257

31. OLYMPIC ACCESSORIES LTD. WITH DSEX 0.00001157 0.08492284

32. S. ALAM COLD ROLLED STEELS LTD. WITH DSEX 0.00001344 0.11812873

33. SAIHAM TEXTILE MILLS LTD. WITH DSEX 0.000001084 0.009406770

34. RECKITT BENCKISER(BANGLADESH) LTD. WITH 0.000002855 0.033547583

DSEX
35. PHOENIX INSURANCE COMPANY LTD. WITH DSEX 0.000014776 0.126016513

36. AB BANK L FIRST MUTUAL FUND WITH DSEX 0.000004742 0.045246503

CORRELATION & COVARIANCE OF STOCKS WITH STOCKS

Stocks with stocks Correlation &

covariance
1)Zeal Bangla Correlation with Zaheen Spinning 0.047431495
Covariance with Zaheen Spinning 0.000050649
2) Zeal Bangla Correlation with Uttara Bank -0.050036052
Covariance with Uttara Bank -0.000039781
3) Zeal Bangla Correlation with Uttara finance -0.018585704
Covariance with Uttara finance -0.000012875
4) Zeal Bangla Correlation with Summit Power ltd. 0.041075911
Covariance with Summit Power ltd. 0.000024085
5) Zeal Bangla Correlation with Standard Ceramic -0.001332492
Covariance with Standard ceramic -0.000001758
6) Zeal Bangla Correlation with Social islami Bank -0.019366507
Covariance with Social Islami Bank -0.000015844
7) Zeal Bangla Correlation with Standard Bank ltd -0.030605210
Covariance with Standard Bank ltd -0.000023672
8) Zeal Bangla Correlation with Standard Insurance -0.028203666
Covariance with Standard Insurance -0.000034889
9) Zeal Bangla Correlation with Square Textiles ltd. -0.066143127
Covariance with Square Textiles ltd. -0.000030898
10) Zeal Bangla Correlation with Sonar Bangla Insurance -0.005131640
Covariance with Sonar Bangla Insurance -0.000004438
11) Zeal Bangla Correlation with Sandhani Life Insurance 0.015352241
Covariance with Sandhani Life Insurance 0.000012579
12) Zeal Bangla Correlation with Saif Powertec LTD. -0.044658490
Covariance with Saif Powertec LTD. -0.000049004
13) Zeal Bangla Correlation with Reliance Insurance -0.035238593
Covariance with Reliance Insurance -0.000026040
14) Zeal Bangla Correlation with Pragati Insurance LTD. -0.062553410
Covariance with Pragati Insurance LTD. -0.000062654
15) Zeal Bangla Correlation with Pharma Aids Limited 0.026695264
Covariance with Pharma Aids Limited 0.000025102
16) Zeal Bangla Correlation with Padma Oil Company ltd. 0.033167774
Covariance with Padma Oil Company ltd. 0.000019749
17) Zeal Bangla Correlation with Padma Islami Life Insurance -0.046262413
Covariance with Padma Islami Life insurance -0.000045778
18) Zeal Bangla Correlation with peninsula Chitagong Ltd. 0.023320478
Covariance with Peninsula Chitagong ltd. 0.000026017
19) Zeal Bangla Correlation with Prime textile spinning mills ltd. 0.004343720
Covariance with Prime textile spinning mills Ltd. 0.000004498
20) Zeal Bangla Correlation with South east bank ltd. -0.066176629
Covariance with South east bank ltd. -0.000042789
21) Zeal Bangla Correlation with Samorita Hospital ltd. 0.006455310
Covariance with Samorita Hospital ltd. 0.000005592
22) Zeal Bangla Correlation with Shahjalal Islami bank ltd. -0.095083201
Covariance with Shahjalal Islami Bank ltd. -0.000071265
23) Zeal Bangla Correlation with Union Capital Ltd. -0.032219540
Covariance with Union Capital Ltd. -0.000033133
24) Zeal Bangla Correlation with Usmania glass sheet factory ltd. -0.026516906
Covariance with Usmania glass sheet factory ltd. -0.000026831
25) Zeal Bangla Correlation with Prime bank Ltd. -0.077266656
Covariance with Prime bank ltd. -0.000062795
26) Zeal Bangla Correlation with Rubali bank ltd. -0.061710777
Correlation with Rupali bank ltd. -0.000075296
27) Zeal Bangla Correlation with Rupali life insurance company ltd. -0.030133788
Covariance with Rupali life insurance Company ltd. -0.000028558
28) Zeal Bangla Correlation with Rangpur foundary ltd. 0.021402274
Covariance with Rangpur foundary ltd. 0.000019160
29) Zeal Bangla Correlation with Orion pharma ltd. -0.039966314
Covariance with Orion pharma ltd. -0.000026267
30) Zeal Bangla Correlation with Olympic accessories ltd. -0.022596045
Covarince with Olympic accessories ltd. -0.000022254
31) Zeal Bangla Correlation with S.Alam cold rolled steels ltd. 0.011697070
Covariance with S.alam cold rolled steels ltd. 0.000009619
32) Zeal Bangla Correlation with Saiham textile mills ltd. 0.024432535
Covariance with Saiham textile mills ltd. 0.000020349
33) Zeal Bangla Correlation with Reckitt benckiser(Bangladesh) ltd. 0.001098572
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000000676
34) Zeal Bangla Correlation with Phoneix insurance company ltd. -0.058415750
Covariance with Phoneix insurance company ltd. -0.000049499
35) Zeal Bangla Correlation with AB Bank 1st mutual fund -0.085753841
Covariance with AB Bank 1st mutual fund -0.000064954
36) Zeal Bangla Correlation with DSEX -0.043117633
Covariance with DSEX -0.000010849
37)Zaheen Spinning Correlation with Uttara Bank -0.01487364
Covariance with Uttara Bank -0.00000694
38) Zaheen Spinning Correlation with Uttara finance 0.03478339
Covariance with Uttara finance 0.00001415
39) Zaheen Spinning Correlation with Summit Power ltd. 0.04873537
Covariance with Summit Power ltd. 0.00001678
40) Zaheen Spinning Correlation with Standard Ceramic -0.01013866
Covariance with Standard ceramic -0.00000786
41) Zaheen Spinning Correlation with Social islami Bank -0.02659895
Covariance with Social Islami Bank -0.00001278
42) Zaheen Spinning Correlation with Standard Bank ltd -0.01932392
Covariance with Standard Bank ltd -0.00000878
43) Zaheen Spinning Correlation with Standard Insurance -0.01973392
Covariance with Standard Insurance -0.00001434
44) Zaheen Spinning Correlation with Square Textiles ltd. -0.01320871
Covariance with Square Textiles ltd. -0.00000362
45) Zaheen Spinning Correlation with Sonar Bangla Insurance 0.04051815
Covariance with Sonar Bangla Insurance 0.00002058
46) Zaheen Spinning Correlation with Sandhani Life Insurance 0.08343668
Covariance with Sandhani Life Insurance 0.00004015
47) Zaheen Spinning Correlation with Saif Powertec LTD. 0.00797317
Covariance with Saif Powertec LTD. 0.00000514
48) Zaheen Spinning Correlation with Reliance Insurance 0.03898348
Covariance with Reliance Insurance 0.00001692
49) Zaheen Spinning Correlation with Pragati Insurance LTD. 0.07159131
Covariance with Pragati Insurance LTD. 0.00004211
50) Zaheen Spinning Correlation with Pharma Aids Limited 0.03334010
Covariance with Pharma Aids Limited 0.00001841
51) Zaheen Spinning Correlation with Padma Oil Company ltd. 0.05950258
Covariance with Padma Oil Company ltd. 0.00002081
52) Zaheen Spinning Correlation with Padma Islami Life Insurance 0.07932883
Covariance with Padma Islami Life insurance 0.00004610
53) Zaheen Spinning Correlation with peninsula Chitagong Ltd. 0.08011984
Covariance with Peninsula Chitagong ltd. 0.00005249
54) Zaheen Spinning Correlation with Prime textile spinning mills ltd. 0.02538932
Covariance with Prime textile spinning mills Ltd. 0.00001544
55) Zaheen Spinning Correlation with South east bank ltd. 0.01620235
Covariance with South east bank ltd. 0.00000615
56) Zaheen Spinning Correlation with Samorita Hospital ltd. 0.09142516
Covariance with Samorita Hospital ltd. 0.00004651
57) Zaheen Spinning Correlation with Shahjalal Islami bank ltd. 0.00560191
Covariance with Shahjalal Islami Bank ltd. 0.00000247
58) Zaheen Spinning Correlation with Union Capital Ltd. -0.00629467
Covariance with Union Capital Ltd. -0.00000380
59) Zaheen Spinning Correlation with Usmania glass sheet factory ltd. -0.00506989
Covariance with Usmania glass sheet factory ltd. -0.00000301
60) Zaheen Spinning Correlation with Prime bank Ltd. -0.02293376
Covariance with Prime bank ltd. -0.00001095
61) Zaheen Spinning Correlation with Rubali bank ltd. -0.02656062
Covariance with Rupali bank ltd. -0.00001903
62) Zaheen Spinning Correlation with Rupali life insurance company ltd. 0.08810064
Covariance with Rupali life insurance Company ltd. 0.00004903
63) Zaheen Spinning Correlation with Rangpur foundary ltd. 0.02748610
Covariance with Rangpur foundary ltd. 0.00001445
64) Zaheen Spinning Correlation with Orion pharma ltd. 0.01549282
Covariance with Orion pharma ltd. 0.00000598
65) Zaheen Spinning Correlation with Olympic accessories ltd. 0.15696673
Covarince with Olympic accessories ltd. 0.00009078
66) Zaheen Spinning Correlation with S.Alam cold rolled steels ltd. 0.07741218
Covariance with S.alam cold rolled steels ltd. 0.00003739
67) Zaheen Spinning Correlation with Saiham textile mills ltd. 0.14911856
Covariance with Saiham textile mills ltd. 0.00007293
68) Zaheen Spinning Correlation with Reckitt benckiser(Bangladesh) ltd. -0.00083803
Covariance with Reckitt benkiser(bangladesh) ltd. -0.00000030
69) Zaheen Spinning Correlation with Phoneix insurance company ltd. 0.00176316
Covariance with Phoneix insurance company ltd. 0.00000088
70) Zaheen Spinning Correlation with AB Bank 1st mutual fund 0.07383805
Covariance with AB Bank 1st mutual fund 0.00003284
70) Uttara Bank Correlation with Uttara finance 0.0757521
Covariance with Uttara finance 0.0000229
71) Uttara Bank Correlation with Summit Power ltd. 0.0132769
Covariance with Summit Power ltd. 0.0000034
72) Uttara Bank Correlation with Standard Ceramic -0.0046834
Covariance with Standard ceramic -0.0000027
73) Uttara Bank Correlation with Social islami Bank 0.2911073
Covariance with Social Islami Bank 0.0001041
74) Uttara Bank Correlation with Standard Bank ltd 0.3232385
Covariance with Standard Bank ltd 0.0001093
75) Uttara Bank Correlation with Standard Insurance 0.0350628
Covariance with Standard Insurance 0.0000190
76) Uttara Bank Correlation with Square Textiles ltd. 0.0787229
Covariance with Square Textiles ltd. 0.0000161
77) Uttara Bank Correlation with Sonar Bangla Insurance -0.0173898
Covariance with Sonar Bangla Insurance -0.0000066
78) Uttara Bank Correlation with Sandhani Life Insurance 0.0559149
Covariance with Sandhani Life Insurance 0.0000200
79) Uttara Bank Correlation with Saif Powertec LTD. 0.1265607
Covariance with Saif Powertec LTD. 0.0000607
80) Uttara Bank Correlation with Reliance Insurance -0.0073234
Covariance with Reliance Insurance -0.0000024
81) Uttara Bank Correlation with Pragati Insurance LTD. 0.0253063
Covariance with Pragati Insurance LTD. 0.0000111
82) Uttara Bank Correlation with Pharma Aids Limited -0.0670976
Covariance with Pharma Aids Limited -0.0000276
83) Uttara Bank Correlation with Padma Oil Company ltd. 0.0020264
Covariance with Padma Oil Company ltd. 0.0000005
84) Uttara Bank Correlation with Padma Islami Life Insurance 0.0535864
Covariance with Padma Islami Life insurance 0.0000232
85) Uttara Bank Correlation with peninsula Chitagong Ltd. -0.0027477
Covariance with Peninsula Chitagong ltd. -0.0000013
86) Uttara Bank Correlation with Prime textile spinning mills ltd. 0.0576197
Covariance with Prime textile spinning mills Ltd. 0.0000261
87) Uttara Bank Correlation with South east bank ltd. 0.4199674
Covariance with South east bank ltd. 0.0001187
88) Uttara Bank Correlation with Samorita Hospital ltd. -0.0066580
Covariance with Samorita Hospital ltd. -0.0000025
89) Uttara Bank Correlation with Shahjalal Islami bank ltd. 0.3558650
Covariance with Shahjalal Islami Bank ltd. 0.0001166
90) Uttara Bank Correlation with Union Capital Ltd. 0.2375965
Covariance with Union Capital Ltd. 0.0001068
91) Uttara Bank Correlation with Usmania glass sheet factory ltd. 0.0103982
Covariance with Usmania glass sheet factory ltd. 0.0000046
92) Uttara Bank Correlation with Prime bank Ltd. 0.3884254
Covariance with Prime bank ltd. 0.0001380
93) Uttara Bank Correlation with Rupali bank ltd. 0.2868751
Covariance with Rupali bank ltd. 0.0001530
94) Uttara Bank Correlation with Rupali life insurance company ltd. -0.0315252
Covariance with Rupali life insurance Company ltd. -0.0000131
95) Uttara Bank Correlation with Rangpur foundary ltd. -0.0529865
Covariance with Rangpur foundary ltd. -0.0000207
96) Uttara Bank Correlation with Orion pharma ltd. 0.0719626
Covariance with Orion pharma ltd. 0.0000207
97) Uttara Bank Correlation with Olympic accessories ltd. 0.0114367
Covarince with Olympic accessories ltd. 0.0000049
98) Uttara Bank Correlation with S.Alam cold rolled steels ltd. 0.0246825
Covariance with S.alam cold rolled steels ltd. 0.0000089
99) Uttara Bank Correlation with Saiham textile mills ltd. 0.0289104
Covariance with Saiham textile mills ltd. 0.0000105
100) Uttara Bank Correlation with Reckitt benckiser(Bangladesh) ltd. 0.0450689
Covariance with Reckitt benkiser(bangladesh) ltd. 0.0000121
101) Uttara Bank Correlation with Phoneix insurance company ltd. 0.0264654
Covariance with Phoneix insurance company ltd. 0.0000098
102) Uttara Bank Correlation with AB Bank 1st mutual fund 0.1093278
Covariance with AB Bank 1st mutual fund 0.0000362

103) Uttara Finance Correlation with Summit Power ltd. 0.047207140

Covariance with Summit Power ltd. 0.000010545
104) Uttara Finance Correlation with Standard Ceramic 0.046865938
Covariance with Standard ceramic 0.000023556
105) Uttara Finance Correlation with Social islami Bank 0.055609609
Covariance with Social Islami Bank 0.000017332
106) Uttara Finance Correlation with Standard Bank ltd 0.118937857
Covariance with Standard Bank ltd 0.000035046
107) Uttara Finance Correlation with Standard Insurance 0.025771589
Covariance with Standard Insurance 0.000012145
108) Uttara Finance Correlation with Square Textiles ltd. 0.050743982
Covariance with Square Textiles ltd. 0.000009030
109) Uttara Finance Correlation with Sonar Bangla Insurance 0.087342836
Covariance with Sonar Bangla Insurance 0.000028779
110) Uttara Finance Correlation with Sandhani Life Insurance 0.099560476
Covariance with Sandhani Life Insurance 0.000031077
112) Uttara Finance Correlation with Saif Powertec LTD. 0.070361001
Covariance with Saif Powertec LTD. 0.000029413
113) Uttara Finance Correlation with Reliance Insurance 0.033365416
Covariance with Reliance Insurance 0.000009393
114) Uttara Finance Correlation with Pragati Insurance LTD. 0.000612331
Covariance with Pragati Insurance LTD. 0.000000234
115) Uttara Finance Correlation with Pharma Aids Limited 0.021232226
Covariance with Pharma Aids Limited 0.000007606
116) Uttara Finance Correlation with Padma Oil Company ltd. 0.037314298
Covariance with Padma Oil Company ltd. 0.000008464
117) Uttara Finance Correlation with Padma Islami Life Insurance 0.024231047
Covariance with Padma Islami Life insurance 0.000009134
118) Uttara Finance Correlation with peninsula Chitagong Ltd. 0.054177919
Covariance with Peninsula Chitagong ltd. 0.000023026
119) Uttara Finance Correlation with Prime textile spinning mills ltd. 0.038814285
Covariance with Prime textile spinning mills Ltd. 0.000015311
120) Uttara Finance Correlation with South east bank ltd. 0.067236372
 Covariance with South east bank ltd. 0.000016562
121) Uttara Finance Correlation with Samorita Hospital ltd. 0.057243723
Covariance with Samorita Hospital ltd. 0.000018893
122) Uttara Finance Correlation with Shahjalal Islami bank ltd. 0.063055130
Covariance with Shahjalal Islami Bank ltd. 0.000018004
123) Uttara Finance Correlation with Union Capital Ltd. 0.048742586
Covariance with Union Capital Ltd. 0.000019095
124) Uttara Finance Correlation with Usmania glass sheet factory ltd. 0.057685701
Covariance with Usmania glass sheet factory ltd. 0.057685701
125) Uttara Finance Correlation with Prime bank Ltd. 0.025198067
Covariance with Prime bank ltd. 0.000007801
126) Uttara Finance Correlation with Rubali bank ltd. 0.036757814
Covariance with Rupali bank ltd. 0.000017086
127) Uttara Finance Correlation with Rupali life insurance company ltd. 0.141847483
Covariance with Rupali life insurance Company ltd. 0.000051212
128) Uttara Finance Correlation with Rangpur foundary ltd. 0.068426253
Covariance with Rangpur foundary ltd. 0.000023336
129) Uttara Finance Correlation with Orion pharma ltd. 0.019740320
Covariance with Orion pharma ltd. 0.000004943
130) Uttara Finance Correlation with Olympic accessories ltd. 0.122241759
Covarince with Olympic accessories ltd. 0.000045864
131) Uttara Finance Correlation with S.Alam cold rolled steels ltd. 0.041421260
Covariance with S.alam cold rolled steels ltd. 0.000012977
132) Uttara Finance Correlation with Saiham textile mills ltd. 0.053004716
Covariance with Saiham textile mills ltd. 0.000016818
133) Uttara Finance Correlation with Reckitt benckiser(Bangladesh) ltd. -0.005755097
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000001348
134) Uttara Finance Correlation with Phoneix insurance company ltd. 0.016148613
Covariance with Phoneix insurance company ltd. 0.000005213
135) Uttara Finance Correlation with AB Bank 1st mutual fund 0.057259669
Covariance with AB Bank 1st mutual fund 0.000016523

136) Summit Power Correlation with Standard Ceramic 0.001082958

Covariance with Standard ceramic 0.000000461
137) Summit Power Correlation with Social islami Bank 0.037672827
Covariance with Social Islami Bank 0.000009938
138) Summit Power Correlation with Standard Bank ltd 0.028301567
Covariance with Standard Bank ltd 0.000007059
139) Summit Power Correlation with Standard Insurance 0.076425216
Covariance with Standard Insurance 0.000030485
140) Summit Power Correlation with Square Textiles ltd. -0.086875717
Covariance with Square Textiles ltd. -0.000013086
141) Summit Power Correlation with Sonar Bangla Insurance 0.007541112
Covariance with Sonar Bangla Insurance 0.000002103
142) Summit Power Correlation with Sandhani Life Insurance 0.060490180
 Covariance with Sandhani Life Insurance 0.000015982
143) Summit Power Correlation with Saif Powertec LTD. 0.003963688
Covariance with Saif Powertec LTD. 0.000001402
144) Summit Power Correlation with Reliance Insurance 0.015235549
Covariance with Reliance Insurance 0.000003630
145) Summit Power Correlation with Pragati Insurance LTD. 0.098825710
Covariance with Pragati Insurance LTD. 0.000000234
146)Summit Power Correlation with Pharma Aids Limited -0.007520781
Covariance with Pharma Aids Limited -0.000002280
147) Summit Power Correlation with Padma Oil Company ltd. 0.064191890
Covariance with Padma Oil Company ltd. 0.000012324
148) Summit Power Correlation with Padma Islami Life Insurance -0.008085441
Covariance with Padma Islami Life insurance -0.000002580
149) Summit Power Correlation with peninsula Chitagong Ltd. 0.055416699
Covariance with Peninsula Chitagong ltd. 0.000019936
150) Summit Power Correlation with Prime textile spinning mills ltd. 0.052926682
Covariance with Prime textile spinning mills Ltd. 0.000017671
151) Summit Power Correlation with South east bank ltd. -0.007668115
Covariance with South east bank ltd. -0.000001599
152) Summit Power) Correlation with Samorita Hospital ltd. 0.069017932
Covariance with Samorita Hospital ltd. 0.000019280
153) Summit Power Correlation with Shahjalal Islami bank ltd. 0.024087832
Covariance with Shahjalal Islami Bank ltd. 0.000005821
154) Summit Power Correlation with Union Capital Ltd. 0.038246261
Covariance with Union Capital Ltd. 0.000012682
155) Summit Power Correlation with Usmania glass sheet factory ltd. 0.022705593
Covariance with Usmania glass sheet factory ltd. 0.000007408
156) Summit Power Correlation with Prime bank Ltd. -0.023664204
Covariance with Prime bank ltd. -0.000006201
157) Summit Power Correlation with Rubali bank ltd. -0.015993565
Correlation with Rupali bank ltd. -0.000006292
158) Summit Power Correlation with Rupali life insurance company ltd. 0.056938924
Covariance with Rupali life insurance Company ltd. 0.000017400
159) Summit Power Correlation with Rangpur foundary ltd. 0.026556010
Covariance with Rangpur foundary ltd. 0.000007666
160) Summit Power Correlation with Orion pharma ltd. 0.096476634
Covariance with Orion pharma ltd. 0.000020446
161) Summit Power Correlation with Olympic accessories ltd. 0.049861481
Covarince with Olympic accessories ltd. 0.000015835
162) Summit Power Correlation with S.Alam cold rolled steels ltd. 0.130818410
Covariance with S.alam cold rolled steels ltd. 0.000034690
163) Summit Power Correlation with Saiham textile mills ltd. 0.047308687
Covariance with Saiham textile mills ltd. 0.000012705
164) Correlation with Reckitt benckiser(Bangladesh) ltd. -0.062887702
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000012469
165) Summit Power Summit Power Correlation with Phoneix insurance 0.013868867
company ltd.
Covariance with Phoneix insurance company ltd. 0.000003789
166) Summit Power Summit Power Correlation with AB Bank 1st mutual fund 0.000786727
Covariance with AB Bank 1st mutual fund 0.000000192

167)Standard Ceramic Correlation with Social islami Bank 0.034515581

Covariance with Social Islami Bank 0.000020488
168) Standard Ceramic Correlation with Standard Bank ltd -0.000636835
Covariance with Standard Bank ltd -0.000000357
169) Standard Ceramic Correlation with Standard Insurance -0.028358903
Covariance with Standard Insurance -0.000000357
170) Standard Ceramic Correlation with Square Textiles ltd. -0.022225225
Covariance with Square Textiles ltd. -0.000007533
171) Standard Ceramic Correlation with Sonar Bangla Insurance 0.018163632
Covariance with Sonar Bangla Insurance 0.000011399
172) Standard Ceramic Correlation with Sandhani Life Insurance -0.046660270
Covariance with Sandhani Life Insurance -0.000027740
173) Standard Ceramic Correlation with Saif Powertec LTD. 0.028756378
Covariance with Saif Powertec LTD. 0.000022895
174) Standard Ceramic Correlation with Reliance Insurance -0.083203726
Covariance with Reliance Insurance -0.000044611
175) Standard Ceramic Correlation with Pragati Insurance LTD. 0.035959376
Covariance with Pragati Insurance LTD. 0.000026133
176) Standard Ceramic Correlation with Pharma Aids Limited 0.112073871
Covariance with Pharma Aids Limited 0.000076463
177) Standard Ceramic Correlation with Padma Oil Company ltd. -0.003115625
Covariance with Padma Oil Company ltd. -0.000001346
178) Standard Ceramic Correlation with Padma Islami Life Insurance -0.006413196
Covariance with Padma Islami Life insurance -0.000004604
179) Standard Ceramic Correlation with peninsula Chitagong Ltd. 0.077022649
Covariance with Peninsula Chitagong ltd. 0.000062348
180) Standard Ceramic Correlation with Prime textile spinning mills ltd. 0.096520744
Covariance with Prime textile spinning mills Ltd. 0.000072515
181) Standard Ceramic Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
182) Standard Ceramic Correlation with Samorita Hospital ltd. 0.105778459
Covariance with Samorita Hospital ltd. 0.000066491
183) Standard Ceramic Correlation with Shahjalal Islami bank ltd. 0.033578079
Covariance with Shahjalal Islami Bank ltd. 0.000018260
184) Standard Ceramic Correlation with Union Capital Ltd. -0.031985353
Covariance with Union Capital Ltd. -0.000023865
185) Standard Ceramic Correlation with Usmania glass sheet factory ltd. 0.179969569
Covariance with Usmania glass sheet factory ltd. 0.000132130
186) Standard Ceramic Correlation with Prime bank Ltd. -0.027918789
Covariance with Prime bank ltd. -0.000016463
187) Standard Ceramic Correlation with Rubali bank ltd. 0.025802095
Correlation with Rupali bank ltd. 0.000022843
188) Standard Ceramic Correlation with Rupali life insurance company ltd. 0.082786863
Covariance with Rupali life insurance Company ltd. 0.000056926
189) Standard Ceramic Correlation with Rangpur foundary ltd. 0.148813955
Covariance with Rangpur foundary ltd. 0.000096661
190) Standard Ceramic Correlation with Orion pharma ltd. -0.013872252
Covariance with Orion pharma ltd. -0.000006615
191) Standard Ceramic Correlation with Olympic accessories ltd. 0.088874442
Covarince with Olympic accessories ltd. 0.000063509
192) Standard Ceramic Correlation with S.Alam cold rolled steels ltd. 0.039051477
Covariance with S.alam cold rolled steels ltd. 0.000023302
193) Standard Ceramic Correlation with Saiham textile mills ltd. 0.047953443
Covariance with Saiham textile mills ltd. 0.000028978
194) Standard Ceramic Correlation with Reckitt benckiser(Bangladesh) ltd. 0.053851334
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000024026
195) Standard Ceramic Correlation with Phoneix insurance company ltd. 0.033561108
Covariance with Phoneix insurance company ltd. 0.000020634
196) Standard Ceramic Correlation with AB Bank 1st mutual fund 0.006980811
Covariance with AB Bank 1st mutual fund 0.000003837

197)Social Islami Bank Correlation with Standard Bank ltd 0.271628535

Covariance with Standard Bank ltd 0.000094523
198) Social Islami Bank Correlation with Standard Insurance 0.054059556
Covariance with Standard Insurance 0.000030087
199) Social Islami Bank Correlation with Square Textiles ltd. 0.067946835
Covariance with Square Textiles ltd. 0.000014280
200) Social Islami Bank Correlation with Sonar Bangla Insurance 0.030963869
Covariance with Sonar Bangla Insurance 0.000012049
201) Social Islami Bank Correlation with Sandhani Life Insurance 0.052073830
Covariance with Sandhani Life Insurance 0.000019197
202) Social Islami Bank Correlation with Saif Powertec LTD. 0.024886888
Covariance with Saif Powertec LTD. 0.000012286
203) Social Islami Bank Correlation with Reliance Insurance 0.005311253
Covariance with Reliance Insurance 0.000001766
204) Social Islami Bank Correlation with Pragati Insurance LTD. 0.055716993
Covariance with Pragati Insurance LTD. 0.000025108
205) Social Islami Bank Correlation with Pharma Aids Limited -0.056470569
Covariance with Pharma Aids Limited -0.000023890
206) Social Islami Bank Correlation with Padma Oil Company ltd. 0.063825766
Covariance with Padma Oil Company ltd. 0.000017098
207) Social Islami Bank Correlation with Padma Islami Life Insurance 0.122285942
Covariance with Padma Islami Life insurance 0.000054441
208) Social Islami Bank Correlation with peninsula Chitagong Ltd. -0.012474199
Covariance with Peninsula Chitagong ltd. -0.000006261
209) Social Islami Bank Correlation with Prime textile spinning mills ltd. 0.004732062
Covariance with Prime textile spinning mills Ltd. 0.000002204
210) Social Islami Bank Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
211) Social Islami Bank Correlation with Samorita Hospital ltd. 0.007632382
Covariance with Samorita Hospital ltd. 0.000002975
212) Social Islami Bank Correlation with Shahjalal Islami bank ltd. 0.254483722
Covariance with Shahjalal Islami Bank ltd. 0.000085814
213) Social Islami Bank Correlation with Union Capital Ltd. 0.103928457
Covariance with Union Capital Ltd. 0.000048083
214) Social Islami Bank Correlation with Usmania glass sheet factory ltd. -0.013823890
Covariance with Usmania glass sheet factory ltd. -0.000006293
215) Social Islami Bank Correlation with Prime bank Ltd. 0.247763426
Covariance with Prime bank ltd. 0.000090593
216) Social Islami Bank Correlation with Rubali bank ltd. 0.235914765
Correlation with Rupali bank ltd. 0.000129506
217) Social Islami Bank Correlation with Rupali life insurance company ltd. 0.032017242
Covariance with Rupali life insurance Company ltd. 0.000013651
218) Social Islami Bank Correlation with Rangpur foundary ltd. 0.020333379
Covariance with Rangpur foundary ltd. 0.000008190
219) Social Islami Bank Correlation with Orion pharma ltd. 0.067839620
Covariance with Orion pharma ltd. 0.000020060
220) Social Islami Bank Correlation with Olympic accessories ltd. 0.016793991
Covarince with Olympic accessories ltd. 0.000007441
221) Social Islami Bank Correlation with S.Alam cold rolled steels ltd. 0.032899414
Covariance with S.alam cold rolled steels ltd. 0.000012173
222) Social Islami Bank Correlation with Saiham textile mills ltd. -0.035680043
Covariance with Saiham textile mills ltd. -0.000013370
223) Social Islami Bank Correlation with Reckitt benckiser(Bangladesh) ltd. -0.011811714
 Covariance with Reckitt benkiser(bangladesh) ltd. -0.000003268
224) Social Islami Bank Correlation with Phoneix insurance company ltd. 0.024636447
Covariance with Phoneix insurance company ltd. 0.000009392
225) Social Islami Bank Correlation with AB Bank 1st mutual fund 0.059550956
Covariance with AB Bank 1st mutual fund 0.000020294

226)Standard Bank Correlation with Standard Insurance 0.056032092

Covariance with Standard Insurance 0.000029483
227) Standard Bank Correlation with Square Textiles ltd. 0.042995689
Covariance with Square Textiles ltd. 0.000008543
228) Standard Bank Correlation with Sonar Bangla Insurance -0.013651937
Covariance with Sonar Bangla Insurance -0.000005023
229) Standard Bank Correlation with Sandhani Life Insurance 0.074302645
Covariance with Sandhani Life Insurance 0.000025896
230) Standard Bank Correlation with Saif Powertec LTD. 0.074254590
Covariance with Saif Powertec LTD. 0.000034658
231) Standard Bank Correlation with Reliance Insurance -0.011293314
Covariance with Reliance Insurance -0.000003550
232) Standard Bank Correlation with Pragati Insurance LTD. 0.077970934
Covariance with Pragati Insurance LTD. 0.000033219
233) Standard Bank Correlation with Pharma Aids Limited -0.057508858
Covariance with Pharma Aids Limited -0.000023001
234) Standard Bank Correlation with Padma Oil Company ltd. 0.051589329
Covariance with Padma Oil Company ltd. 0.000013066
235) Standard Bank Correlation with Padma Islami Life Insurance 0.120619792
Covariance with Padma Islami Life insurance 0.000050769
236) Standard Bank Correlation with peninsula Chitagong Ltd. 0.066432453
Covariance with Peninsula Chitagong ltd. 0.000031525
237) Standard Bank Correlation with Prime textile spinning mills ltd. 0.064164097
Covariance with Prime textile spinning mills Ltd. 0.000028260
238) Standard Bank Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
239) Standard Bank Correlation with Samorita Hospital ltd. 0.045921159
Covariance with Samorita Hospital ltd. 0.000016922
240) Standard Bank Correlation with Shahjalal Islami bank ltd. 0.301597095
Covariance with Shahjalal Islami Bank ltd. 0.000096150
241) Standard Bank Correlation with Union Capital Ltd. 0.274036268
Covariance with Union Capital Ltd. 0.000119866
242) Standard Bank Correlation with Usmania glass sheet factory ltd. 0.046378649
Covariance with Usmania glass sheet factory ltd. 0.000019961
243) Standard Bank Correlation with Prime bank Ltd. 0.313073974
 Covariance with Prime bank ltd. 0.000108226
244) Standard Bank Correlation with Rubali bank ltd. 0.199523913
Correlation with Rupali bank ltd. 0.000103552
245) Standard Bank Correlation with Rupali life insurance company ltd. 0.041404230
Covariance with Rupali life insurance Company ltd. 0.000016690
246) Standard Bank Correlation with Rangpur foundary ltd. -0.038473569
Covariance with Rangpur foundary ltd. -0.000014650
247) Standard Bank Correlation with Orion pharma ltd. 0.123090436
Covariance with Orion pharma ltd. 0.000034411
248) Standard Bank Correlation with Olympic accessories ltd. 0.053839354
Covarince with Olympic accessories ltd. 0.000022554
249) Standard Bank Correlation with S.Alam cold rolled steels ltd. 0.005685273
Covariance with S.alam cold rolled steels ltd. 0.000001989
250) Standard Bank Correlation with Saiham textile mills ltd. 0.011010440
Covariance with Saiham textile mills ltd. 0.000003901
251) Standard Bank Correlation with Reckitt benckiser(Bangladesh) ltd. 0.009141580
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000002391
252) Standard Bank Correlation with Phoneix insurance company ltd. 0.191379859
Covariance with Phoneix insurance company ltd. 0.000068978
253) Standard Bank Correlation with AB Bank 1st mutual fund 0.093968544
Covariance with AB Bank 1st mutual fund 0.000030275

254) Standard Insurance Correlation with Square Textiles ltd. 0.006619004

Covariance with Square Textiles ltd. 0.000002103
255) Standard Insurance Correlation with Sonar Bangla Insurance 0.006149900
Covariance with Sonar Bangla Insurance 0.000003619
256) Standard Insurance Correlation with Sandhani Life Insurance 0.018759110
Covariance with Sandhani Life Insurance 0.000010457
257) Standard Insurance Correlation with Saif Powertec LTD. -0.014501919
Covariance with Saif Powertec LTD. -0.000010825
258) Standard Insurance Correlation with Reliance Insurance -0.017986344
Covariance with Reliance Insurance -0.000009042
259) Standard Insurance Correlation with Pragati Insurance LTD. 0.073451969
Covariance with Pragati Insurance LTD. 0.000050049
260) Standard Insurance Correlation with Pharma Aids Limited -0.037275157
Covariance with Pharma Aids Limited -0.000023844
261) Standard Insurance Correlation with Padma Oil Company ltd. 0.031296184
Covariance with Padma Oil Company ltd. 0.000012677
262) Standard Insurance Correlation with Padma Islami Life Insurance 0.099056125
Covariance with Padma Islami Life insurance 0.000066681
263) Standard Insurance Correlation with peninsula Chitagong Ltd. 0.005534049
 Covariance with Peninsula Chitagong ltd. 0.000004200
264) Standard Insurance Correlation with Prime textile spinning mills ltd. -0.001278671
Covariance with Prime textile spinning mills Ltd. -0.000000901
265) Standard Insurance Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
266) Standard Insurance Correlation with Samorita Hospital ltd. -0.007020719
Covariance with Samorita Hospital ltd. -0.000004138
267) Standard Insurance Correlation with Shahjalal Islami bank ltd. 0.008544080
Covariance with Shahjalal Islami Bank ltd. 0.000004356
268) Standard Insurance Correlation with Union Capital Ltd. 0.050333290
Covariance with Union Capital Ltd. 0.000035212
269) Standard Insurance Correlation with Usmania glass sheet factory ltd. -0.034302720
Covariance with Usmania glass sheet factory ltd. -0.000023613
270) Standard Insurance Correlation with Prime bank Ltd. 0.024958158
Covariance with Prime bank ltd. 0.000013799
271) Standard Insurance Correlation with Rubali bank ltd. 0.049532741
Correlation with Rupali bank ltd. 0.000041115
272) Standard Insurance Correlation with Rupali life insurance company ltd. 0.057153021
Covariance with Rupali life insurance Company ltd. 0.000036847
273) Standard Insurance Correlation with Rangpur foundary ltd. -0.013377492
Covariance with Rangpur foundary ltd. -0.000008147
274) Standard Insurance Correlation with Orion pharma ltd. 0.070257800
Covariance with Orion pharma ltd. 0.000031413
275) Standard Insurance Correlation with Olympic accessories ltd. 0.010037906
Covarince with Olympic accessories ltd. 0.000006725
276) Standard Insurance Correlation with S.Alam cold rolled steels ltd. 0.014886937
Covariance with S.alam cold rolled steels ltd. 0.000008329
277) Standard Insurance Correlation with Saiham textile mills ltd. -0.017633593
Covariance with Saiham textile mills ltd. -0.000009991
278) Standard Insurance Correlation with Reckitt benckiser(Bangladesh) ltd. 0.055838308
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000023358
279) Standard Insurance Correlation with Phoneix insurance company ltd. 0.078466036
Covariance with Phoneix insurance company ltd. 0.000045231
280) Standard Insurance Correlation with AB Bank 1st mutual fund 0.027530564
Covariance with AB Bank 1st mutual fund 0.000014186

281)Square Textiles Correlation with Sonar Bangla Insurance 0.03176943

Covariance with Sonar Bangla Insurance 0.00000706
282) Square Textiles Correlation with Sandhani Life Insurance 0.08322248
Covariance with Sandhani Life Insurance 0.00001752
283) Square Textiles Correlation with Saif Powertec LTD. 0.02243043
 Covariance with Saif Powertec LTD. 0.00000632
284) Square Textiles Correlation with Reliance Insurance 0.09556547
Covariance with Reliance Insurance 0.00001814
285) Square Textiles Correlation with Pragati Insurance LTD. -0.05863606
Covariance with Pragati Insurance LTD. -0.00001509
286) Square Textiles Correlation with Pharma Aids Limited -0.03201324
Covariance with Pharma Aids Limited -0.00000773
287) Square Textiles Correlation with Padma Oil Company ltd. 0.04946207
Covariance with Padma Oil Company ltd. 0.00000757
288) Square Textiles Correlation with Padma Islami Life Insurance 0.02277912
Covariance with Padma Islami Life insurance 0.00000579
289) Square Textiles Correlation with peninsula Chitagong Ltd. 0.04888363
Covariance with Peninsula Chitagong ltd. 0.00001401
290) Square Textiles Correlation with Prime textile spinning mills ltd. 0.01405774
Covariance with Prime textile spinning mills Ltd. 0.00000374
291) Square Textiles Correlation with South east bank ltd. 0.00000000
Covariance with South east bank ltd. 0.00000000
292) Square Textiles Correlation with Samorita Hospital ltd. 0.01996834
Covariance with Samorita Hospital ltd. 0.00000444
293) Square Textiles Correlation with Shahjalal Islami bank ltd. 0.00214029
Covariance with Shahjalal Islami Bank ltd. 0.00000041
294) Square Textiles Correlation with Union Capital Ltd. 0.07517025
Covariance with Union Capital Ltd. 0.00001986
295) Square Textiles Correlation with Usmania glass sheet factory ltd. 0.00482476
Covariance with Usmania glass sheet factory ltd. 0.00000125
296) Square Textiles Correlation with Prime bank Ltd. 0.07810707
Covariance with Prime bank ltd. 0.00001631
297) Square Textiles Correlation with Rubali bank ltd. 0.06677502
Correlation with Rupali bank ltd. 0.00002093
298) Square Textiles Correlation with Rupali life insurance company ltd. 0.00870389
Covariance with Rupali life insurance Company ltd. 0.00000212
299) Square Textiles Correlation with Rangpur foundary ltd. 0.03435583
Covariance with Rangpur foundary ltd. 0.00000790
300) Square Textiles Correlation with Orion pharma ltd. 0.08471222
Covariance with Orion pharma ltd. 0.00001430
30) Square Textiles Correlation with Olympic accessories ltd. 0.02195525
Covarince with Olympic accessories ltd. 0.00000555
301) Square Textiles Correlation with S.Alam cold rolled steels ltd. 0.06082620
Covariance with S.alam cold rolled steels ltd. 0.00001285
302) Square Textiles Correlation with Saiham textile mills ltd. 0.01426014
Covariance with Saiham textile mills ltd. 0.00000305
303) Square Textiles Correlation with Reckitt benckiser(Bangladesh) ltd. -0.00592386
Covariance with Reckitt benkiser(bangladesh) ltd. -0.00000094
304) Square Textiles Correlation with Phoneix insurance company ltd. 0.02367166
Covariance with Phoneix insurance company ltd. 0.00000515
305) Square Textiles Correlation with AB Bank 1st mutual fund 0.08791826
Covariance with AB Bank 1st mutual fund 0.00001711

306) Sonar Bangla Insurance Correlation with Sandhani Life Insurance 0.082411470
Covariance with Sandhani Life Insurance 0.000032119
307) Sonar Bangla Insurance Correlation with Saif Powertec LTD. 0.002744362
Covariance with Saif Powertec LTD. 0.000001432
308) Sonar Bangla Insurance Correlation with Reliance Insurance -0.002585819
Covariance with Reliance Insurance -0.000000909
309Sonar Bangla Insurance) Correlation with Pragati Insurance LTD. -0.000639398
Covariance with Pragati Insurance LTD. -0.000000305
310) Sonar Bangla Insurance Correlation with Pharma Aids Limited -0.021181974
Covariance with Pharma Aids Limited -0.000009474
311) Sonar Bangla Insurance Correlation with Padma Oil Company ltd. -0.058877782
Covariance with Padma Oil Company ltd. -0.000016675
312) Sonar Bangla InsuranceCorrelation with Padma Islami Life Insurance 0.016440085
Covariance with Padma Islami Life insurance 0.000007738
313) Sonar Bangla Insurance Correlation with peninsula Chitagong Ltd. 0.005546001
Covariance with Peninsula Chitagong ltd. 0.000002943
314) Sonar Bangla Insurance Correlation with Prime textile spinning mills ltd. 0.017706758
Covariance with Prime textile spinning mills Ltd. 0.000008721
315) Sonar Bangla Insurance Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
316) Sonar Bangla Insurance Correlation with Samorita Hospital ltd. -0.003717232
Covariance with Samorita Hospital ltd. -0.000001532
317) Sonar Bangla Insurance Correlation with Shahjalal Islami bank ltd. -0.033147701
Covariance with Shahjalal Islami Bank ltd. -0.000011817
318) Sonar Bangla Insurance Correlation with Union Capital Ltd. 0.012927448
Covariance with Union Capital Ltd. 0.000006323
319) Sonar Bangla Insurance Correlation with Usmania glass sheet factory 0.040633062
ltd.
Covariance with Usmania glass sheet factory ltd. 0.000019557
320) Sonar Bangla Insurance Correlation with Prime bank Ltd. -0.011407679
Covariance with Prime bank ltd. -0.000004410
321) Sonar Bangla Insurance Correlation with Rubali bank ltd. 0.008012239
Correlation with Rupali bank ltd. 0.000004650
322) Sonar Bangla InsuranceCorrelation with Rupali life insurance company 0.114628707
ltd.
 Covariance with Rupali life insurance Company ltd. 0.000051672
324) Sonar Bangla Insurance Correlation with Rangpur foundary ltd. 0.014401919
Covariance with Rangpur foundary ltd. 0.000006133
325) Sonar Bangla Insurance Correlation with Orion pharma ltd. 0.055020166
Covariance with Orion pharma ltd. 0.000017200
326) Sonar Bangla Insurance Correlation with Olympic accessories ltd. 0.062031447
Covarince with Olympic accessories ltd. 0.000029059
327) Sonar Bangla Insurance Correlation with S.Alam cold rolled steels ltd. -0.010506989
Covariance with S.alam cold rolled steels ltd. -0.000004110
328) Sonar Bangla Insurance Correlation with Saiham textile mills ltd. -0.032058028
Covariance with Saiham textile mills ltd. -0.000012700
329) Sonar Bangla Insurance Correlation with Reckitt benckiser(Bangladesh) 0.024364002
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000007126
330) Sonar Bangla Insurance Correlation with Phoneix insurance company 0.075068032
ltd.
Covariance with Phoneix insurance company ltd. 0.000030256
331) Sonar Bangla Insurance Correlation with AB Bank 1st mutual fund 0.045679462
Covariance with AB Bank 1st mutual fund 0.000016458

332)Sandhani Life Insurance Correlation with Saif Powertec LTD. -0.005610514

Covariance with Saif Powertec LTD. -0.000002774
333) Sandhani Life Insurance Correlation with Reliance Insurance 0.002488506
Covariance with Reliance Insurance 0.000000829
334)v Correlation with Pragati Insurance LTD. 0.013033091
Covariance with Pragati Insurance LTD. 0.000005882
335) Sandhani Life Insurance Correlation with Pharma Aids Limited -0.021673466
Covariance with Pharma Aids Limited -0.000009183
336) Sandhani Life Insurance Correlation with Padma Oil Company ltd. 0.028698634
Covariance with Padma Oil Company ltd. 0.000007700
337) Sandhani Life Insurance Correlation with Padma Islami Life Insurance 0.057883761
Covariance with Padma Islami Life insurance 0.000025809
338) Sandhani Life Insurance Correlation with peninsula Chitagong Ltd. 0.000025809
Covariance with Peninsula Chitagong ltd. 0.000076188
339) Sandhani Life Insurance Correlation with Prime textile spinning mills ltd. 0.066876035
Covariance with Prime textile spinning mills Ltd. 0.000031203
340) Sandhani Life Insurance Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
341) Sandhani Life Insurance Correlation with Samorita Hospital ltd. 0.056023679
Covariance with Samorita Hospital ltd. 0.000021870
342) Sandhani Life Insurance Correlation with Shahjalal Islami bank ltd. 0.047664104
Covariance with Shahjalal Islami Bank ltd. 0.000016097
343) Sandhani Life Insurance Correlation with Union Capital Ltd. 0.053780561
Covariance with Union Capital Ltd. 0.000024920
344) Sandhani Life Insurance Correlation with Usmania glass sheet factory 0.067257864
ltd.
Covariance with Usmania glass sheet factory ltd. 0.000030666
345) Sandhani Life Insurance Correlation with Prime bank Ltd. 0.021638910
Covariance with Prime bank ltd. 0.000007924
346) Sandhani Life Insurance Correlation with Rubali bank ltd. 0.054324614
Correlation with Rupali bank ltd. 0.000029868
347) Sandhani Life Insurance Correlation with Rupali life insurance company 0.376717303
ltd.
Covariance with Rupali life insurance Company ltd. 0.000160873
348) Sandhani Life Insurance Correlation with Rangpur foundary ltd. 0.082569180
Covariance with Rangpur foundary ltd. 0.000033307
349) Sandhani Life Insurance Correlation with Orion pharma ltd. 0.017851108
Covariance with Orion pharma ltd. 0.000005287
350) Sandhani Life Insurance Correlation with Olympic accessories ltd. 0.110541624
Covarince with Olympic accessories ltd. 0.000049057
351) Sandhani Life Insurance Correlation with S.Alam cold rolled steels ltd. 0.062186466
Covariance with S.alam cold rolled steels ltd. 0.000023044
352) Sandhani Life Insurance Correlation with Saiham textile mills ltd. 0.060150520
Covariance with Saiham textile mills ltd. 0.000022574
353) Sandhani Life Insurance Correlation with Reckitt benckiser(Bangladesh) -0.077131486
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000021371
354) Sandhani Life Insurance Correlation with Phoneix insurance company 0.033413634
ltd.
Covariance with Phoneix insurance company ltd. 0.000012758
355) Sandhani Life Insurance Correlation with AB Bank 1st mutual fund 0.090800887
Covariance with AB Bank 1st mutual fund 0.000030991

356)Saif Powertec Ltd. Correlation with Reliance Insurance 0.005832947

Covariance with Reliance Insurance 0.000002601
357) Saif Powertec Ltd. Correlation with Pragati Insurance LTD. -0.008603101
Covariance with Pragati Insurance LTD. -0.000005200
358) Saif Powertec Ltd. Correlation with Pharma Aids Limited 0.041806579
Covariance with Pharma Aids Limited 0.000023722
359) Saif Powertec Ltd. Correlation with Padma Oil Company ltd. 0.007140850
Covariance with Padma Oil Company ltd. 0.000002566
360) Saif Powertec Ltd. Correlation with Padma Islami Life Insurance 0.005631584
Covariance with Padma Islami Life insurance 0.000003363
361) Saif Powertec Ltd. Correlation with peninsula Chitagong Ltd. 0.018202333

Covariance with Peninsula Chitagong ltd. 0.000012254

362) Saif Powertec Ltd. Correlation with Prime textile spinning mills ltd. -0.103632526
Covariance with Prime textile spinning mills Ltd. -0.000064754
363) Saif Powertec Ltd. Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
364 Saif Powertec Ltd.) Correlation with Samorita Hospital ltd. 0.034243972
Covariance with Samorita Hospital ltd. 0.000017902
365) Saif Powertec Ltd.Correlation with Shahjalal Islami bank ltd. 0.053885479
Covariance with Shahjalal Islami Bank ltd. 0.000024371
366) Saif Powertec Ltd. Correlation with Union Capital Ltd. -0.030775618
Covariance with Union Capital Ltd. -0.000019098
367) Saif Powertec Ltd. Correlation with Usmania glass sheet factory ltd. 0.043065110
Covariance with Usmania glass sheet factory ltd. 0.000026296
368) Saif Powertec Ltd.Correlation with Prime bank Ltd. 0.048689616
Covariance with Prime bank ltd. 0.000023878
369) Saif Powertec Ltd. Correlation with Rubali bank ltd. 0.094219804
Correlation with Rupali bank ltd. 0.000069373
370) Saif Powertec Ltd. Correlation with Rupali life insurance company ltd. 0.047803774
Covariance with Rupali life insurance Company ltd. 0.000027338
371) Saif Powertec Ltd. Correlation with Rangpur foundary ltd. -0.048897497
Covariance with Rangpur foundary ltd. -0.000026415
372) Saif Powertec Ltd. Correlation with Orion pharma ltd. 0.003688245
Covariance with Orion pharma ltd. 0.000001463
373) Saif Powertec Ltd. Correlation with Olympic accessories ltd. -0.013878876
Covarince with Olympic accessories ltd. -0.000008248
374) Saif Powertec Ltd.Correlation with S.Alam cold rolled steels ltd. 0.008188974
Covariance with S.alam cold rolled steels ltd. 0.000004064
375) Saif Powertec Ltd. Correlation with Saiham textile mills ltd. 0.000166767
Covariance with Saiham textile mills ltd. 0.000000084
376) Saif Powertec Ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. -0.016813134
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000006239
377) Saif Powertec Ltd. Correlation with Phoneix insurance company ltd. -0.009586776
Covariance with Phoneix insurance company ltd. -0.000004902
378) Saif Powertec Ltd. Correlation with AB Bank 1st mutual fund -0.012045323
Covariance with AB Bank 1st mutual fund -0.000005506

379) Reliance Insurance Correlation with Pragati Insurance LTD. -0.00391596

Covariance with Pragati Insurance LTD. -0.00000159
380) Reliance Insurance Correlation with Pharma Aids Limited -0.04313736
Covariance with Pharma Aids Limited -0.00001648
381) Reliance Insurance Correlation with Padma Oil Company ltd. -0.04626723
Covariance with Padma Oil Company ltd. -0.00001120
382) Reliance Insurance Correlation with Padma Islami Life Insurance 0.05342485
Covariance with Padma Islami Life insurance 0.00002148
383) Reliance Insurance Correlation with peninsula Chitagong Ltd. -0.00152008
Covariance with Peninsula Chitagong ltd. -0.00000069
384) Reliance Insurance Correlation with Prime textile spinning mills ltd. -0.01827135
Covariance with Prime textile spinning mills Ltd. -0.00000769
385) Reliance Insurance Correlation with South east bank ltd. 0.00000000
Covariance with South east bank ltd. 0.00000000
386) Reliance Insurance Correlation with Samorita Hospital ltd. -0.03907270
Covariance with Samorita Hospital ltd. -0.00001376
387) Reliance Insurance Correlation with Shahjalal Islami bank ltd. -0.02100931
Covariance with Shahjalal Islami Bank ltd. -0.00000640
388) Reliance Insurance Correlation with Union Capital Ltd. 0.02828691
Covariance with Union Capital Ltd. 0.00001182
389) Reliance Insurance Correlation with Usmania glass sheet factory ltd. -0.05475815
Covariance with Usmania glass sheet factory ltd. -0.00002252
390) Reliance Insurance Correlation with Prime bank Ltd. 0.01052784
Covariance with Prime bank ltd. 0.00000348
391) Reliance Insurance Correlation with Rubali bank ltd. -0.06669123
Correlation with Rupali bank ltd. -0.00003307
392) Reliance Insurance Correlation with Rupali life insurance company ltd. -0.00793377
Covariance with Rupali life insurance Company ltd. -0.00000306
393) Reliance Insurance Correlation with Rangpur foundary ltd. -0.07050695
Covariance with Rangpur foundary ltd. -0.00002565
394) Reliance Insurance Correlation with Orion pharma ltd. 0.04334184
Covariance with Orion pharma ltd. 0.00001158
395) Reliance Insurance Correlation with Olympic accessories ltd. 0.04109150
Covarince with Olympic accessories ltd. 0.00001645
396) Reliance Insurance Correlation with S.Alam cold rolled steels ltd. 0.00726742
Covariance with S.alam cold rolled steels ltd. 0.00000243
397) Reliance Insurance Correlation with Saiham textile mills ltd. -0.03996560
Covariance with Saiham textile mills ltd. -0.00001353
398) Reliance Insurance Correlation with Reckitt benckiser(Bangladesh) ltd. -0.00364701
Covariance with Reckitt benkiser(bangladesh) ltd. -0.00000091
399) Reliance Insurance Correlation with Phoneix insurance company ltd. -0.06048247
Covariance with Phoneix insurance company ltd. -0.00002083
400) Reliance Insurance Correlation with AB Bank 1st mutual fund 0.02742236
Covariance with AB Bank 1st mutual fund 0.00000844
401)Pragati Insurance ltd. Correlation with Pharma Aids Limited -0.000798735
Covariance with Pharma Aids Limited -0.000000414
402) Pragati Insurance ltd. Correlation with Padma Oil Company ltd. 0.025705093
Covariance with Padma Oil Company ltd. 0.000008430
403) Pragati Insurance ltd. Correlation with Padma Islami Life Insurance 0.035006486
Covariance with Padma Islami Life insurance 0.000019080
404) Pragati Insurance ltd. Correlation with peninsula Chitagong Ltd. 0.051968929
Covariance with Peninsula Chitagong ltd. 0.000031936
405) Pragati Insurance ltd. Correlation with Prime textile spinning mills ltd. 0.041654858
Covariance with Prime textile spinning mills Ltd. 0.000023758
406) Pragati Insurance ltd. Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
407) Pragati Insurance ltd. Correlation with Samorita Hospital ltd. 0.027083210
Covariance with Samorita Hospital ltd. 0.000012924
408) Pragati Insurance ltd. Correlation with Shahjalal Islami bank ltd. 0.085115932
Covariance with Shahjalal Islami Bank ltd. 0.000035139
409) Pragati Insurance ltd. Correlation with Union Capital Ltd. 0.022179172
Covariance with Union Capital Ltd. 0.000012563
410) Pragati Insurance ltd. Correlation with Usmania glass sheet factory ltd. -0.007247336
Covariance with Usmania glass sheet factory ltd. -0.000004039
411) Pragati Insurance ltd.Correlation with Prime bank Ltd. 0.000969529
Covariance with Prime bank ltd. 0.000000434
412) Pragati Insurance ltd. Correlation with Rubali bank ltd. 0.056070257
Correlation with Rupali bank ltd. 0.000037684
413) Pragati Insurance ltd. Correlation with Rupali life insurance company -0.019465678
ltd.
Covariance with Rupali life insurance Company ltd. -0.000010161
414) Pragati Insurance ltd. Correlation with Rangpur foundary ltd. 0.000759676
Covariance with Rangpur foundary ltd. 0.000000375
415) Pragati Insurance ltd. Correlation with Orion pharma ltd. 0.017301081
Covariance with Orion pharma ltd. 0.000006263
416) Pragati Insurance ltd. Correlation with Olympic accessories ltd. -0.016797154
Covarince with Olympic accessories ltd. -0.000009112
417) Pragati Insurance ltd. Correlation with S.Alam cold rolled steels ltd. 0.007512362
Covariance with S.alam cold rolled steels ltd. 0.000003403
418) Pragati Insurance ltd. Correlation with Saiham textile mills ltd. 0.052808937
Covariance with Saiham textile mills ltd. 0.000024226
419) Pragati Insurance ltd. Correlation with Reckitt benckiser(Bangladesh) -0.014472081
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000004902
420) Pragati Insurance ltd. Correlation with Phoneix insurance company ltd. 0.071409303
421) Pragati Insurance ltd. Correlation with AB Bank 1st mutual fund 0.042032221
 Covariance with AB Bank 1st mutual fund 0.000017537

422)Pharma Aids ltd. Correlation with Padma Oil Company ltd. 0.07617226
Covariance with Padma Oil Company ltd. 0.00002345
423) Pharma Aids ltd. Correlation with Padma Islami Life Insurance 0.03057295
Covariance with Padma Islami Life insurance 0.00001564
424) Pharma Aids ltd. Correlation with peninsula Chitagong Ltd. 0.11849265
Covariance with Peninsula Chitagong ltd. 0.00006836
425) Pharma Aids ltd. Correlation with Prime textile spinning mills ltd. 0.02382851
Covariance with Prime textile spinning mills Ltd. 0.00001276
426) Pharma Aids ltd. Correlation with South east bank ltd. 0.00000000
Covariance with South east bank ltd. 0.00000000
427) Pharma Aids ltd. Correlation with Samorita Hospital ltd. 0.24171783
Covariance with Samorita Hospital ltd. 0.00010829
428) Pharma Aids ltd. Correlation with Shahjalal Islami bank ltd. -0.01755495
Covariance with Shahjalal Islami Bank ltd. -0.00000680
429) Pharma Aids ltd. Correlation with Union Capital Ltd. -0.03197492
Covariance with Union Capital Ltd. -0.00001700
430) Pharma Aids ltd. Correlation with Usmania glass sheet factory ltd. 0.32153584
Covariance with Usmania glass sheet factory ltd. 0.00016824
431) Pharma Aids ltd. Correlation with Prime bank Ltd. -0.04208780
Covariance with Prime bank ltd. -0.00001769
432) Pharma Aids ltd. Correlation with Rubali bank ltd. -0.04237269
Correlation with Rupali bank ltd. -0.00002673
433) Pharma Aids ltd. Correlation with Rupali life insurance company ltd. -0.00512286
Covariance with Rupali life insurance Company ltd. -0.00000251
434) Pharma Aids ltd. Correlation with Rangpur foundary ltd. 0.22398493
Covariance with Rangpur foundary ltd. 0.00010369
435) Pharma Aids ltd. Correlation with Orion pharma ltd. -0.00466738
Covariance with Orion pharma ltd. -0.00000159
436) Pharma Aids ltd. Correlation with Olympic accessories ltd. 0.02341964
Covarince with Olympic accessories ltd. 0.00001193
437) Pharma Aids ltd. Correlation with S.Alam cold rolled steels ltd. 0.03391678
Covariance with S.alam cold rolled steels ltd. 0.00001442
438) Pharma Aids ltd. Correlation with Saiham textile mills ltd. 0.05927646
Covariance with Saiham textile mills ltd. 0.00002553
439) Pharma Aids ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. -0.00016546
Covariance with Reckitt benkiser(bangladesh) ltd. -0.00000005
440) Pharma Aids ltd. Correlation with Phoneix insurance company ltd. 0.00641074
Covariance with Phoneix insurance company ltd. 0.00000281
441) Pharma Aids ltd. Correlation with AB Bank 1st mutual fund 0.00020311
442)Padma oil company Correlation with Padma Islami Life Insurance 0.040498376
Covariance with Padma Islami Life insurance 0.000013122
443) Padma oil company Correlation with peninsula Chitagong Ltd. 0.094395154
Covariance with Peninsula Chitagong ltd. 0.000034483
444) Padma oil company Correlation with Prime textile spinning mills ltd. 0.044969058
Covariance with Prime textile spinning mills Ltd. 0.000015247
445) Padma oil company Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
446) Padma oil company Correlation with Samorita Hospital ltd. 0.078718976
Covariance with Samorita Hospital ltd. 0.000022331
447) Padma oil company Correlation with Shahjalal Islami bank ltd. -0.014807788
Covariance with Shahjalal Islami Bank ltd. -0.000003634
448) Padma oil company Correlation with Union Capital Ltd. 0.011316822
Covariance with Union Capital Ltd. 0.000003811
449) Padma oil company Correlation with Usmania glass sheet factory ltd. 0.036940698
Covariance with Usmania glass sheet factory ltd. 0.000012239
450) Padma oil company Correlation with Prime bank Ltd. 0.001221313
Covariance with Prime bank ltd. 0.000000325
451) Padma oil company Correlation with Rubali bank ltd. 0.013477601
Correlation with Rupali bank ltd. 0.000005385
452) Padma oil company Correlation with Rupali life insurance company ltd. -0.005251050
Covariance with Rupali life insurance Company ltd. -0.000001629
453) Padma oil company Correlation with Rangpur foundary ltd. 0.068352989
Covariance with Rangpur foundary ltd. 0.000020036
454) Padma oil company Correlation with Orion pharma ltd. 0.018539273
Covariance with Orion pharma ltd. 0.000003990
455) Padma oil company Correlation with Olympic accessories ltd. 0.069055502
Covarince with Olympic accessories ltd. 0.000022270
456) Padma oil company Correlation with S.Alam cold rolled steels ltd. 0.077107184
Covariance with S.alam cold rolled steels ltd. 0.000020764
457) Padma oil company Correlation with Saiham textile mills ltd. 0.037654245
Covariance with Saiham textile mills ltd. 0.000010269
458) Padma oil company Correlation with Reckitt benckiser(Bangladesh) ltd. 0.012048595
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000002426
459) Padma oil company Correlation with Phoneix insurance company ltd. 0.024613486
Covariance with Phoneix insurance company ltd. 0.000006829
460) Padma oil company Correlation with AB Bank 1st mutual fund 0.115558488
Covariance with AB Bank 1st mutual fund 0.000028661

461)Padma Islami Life Ins. Correlation with peninsula Chitagong Ltd. -0.00614718
 Covariance with Peninsula Chitagong ltd. -0.00000373
462) Padma Islami Life Ins. Correlation with Prime textile spinning mills ltd. 0.00532490
Covariance with Prime textile spinning mills Ltd. 0.00000300
463) Padma Islami Life Ins. Correlation with South east bank ltd. 0.00000000
Covariance with South east bank ltd. 0.00000000
464) Padma Islami Life Ins. Correlation with Samorita Hospital ltd. 0.05908378
Covariance with Samorita Hospital ltd. 0.00002785
465) Padma Islami Life Ins. Correlation with Shahjalal Islami bank ltd. 0.07473140
Covariance with Shahjalal Islami Bank ltd. 0.00003048
466) Padma Islami Life Ins. Correlation with Union Capital Ltd. 0.05894993
Covariance with Union Capital Ltd. 0.00003299
467) Padma Islami Life Ins. Correlation with Usmania glass sheet factory ltd. 0.06981291
Covariance with Usmania glass sheet factory ltd. 0.00003844
468) Padma Islami Life Ins. Correlation with Prime bank Ltd. 0.02745114
Covariance with Prime bank ltd. 0.00001214
469) Padma Islami Life Ins. Correlation with Rubali bank ltd. 0.00608832
Correlation with Rupali bank ltd. 0.00000404
470) Padma Islami Life Ins. Correlation with Rupali life insurance company 0.17922060
ltd.
Covariance with Rupali life insurance Company ltd. 0.00009243
471) Padma Islami Life Ins. Correlation with Rangpur foundary ltd. -0.01174415
Covariance with Rangpur foundary ltd. -0.00000572
472) Padma Islami Life Ins. Correlation with Orion pharma ltd. 0.00817870
Covariance with Orion pharma ltd. 0.00000293
473) Padma Islami Life Ins. Correlation with Olympic accessories ltd. 0.02208748
Covarince with Olympic accessories ltd. 0.00001184
474) Padma Islami Life Ins. Correlation with S.Alam cold rolled steels ltd. 0.01614185
Covariance with S.alam cold rolled steels ltd. 0.00000722
475) Padma Islami Life Ins. Correlation with Saiham textile mills ltd. 0.02602343
Covariance with Saiham textile mills ltd. 0.00001179
476) Padma Islami Life Ins. Correlation with Reckitt benckiser(Bangladesh) 0.01257460
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000421
477) Padma Islami Life Ins. Correlation with Phoneix insurance company ltd. 0.06940102
Covariance with Phoneix insurance company ltd. 0.00003200
478) Padma Islami Life Ins. Correlation with AB Bank 1st mutual fund 0.07149531
Covariance with AB Bank 1st mutual fund 0.00002947

479)The Peninsula Correlation with Prime textile spinning mills ltd. 0.132297181
Covariance with Prime textile spinning mills Ltd. 0.000084046
480) The Peninsula Correlation with South east bank ltd. 0.000000000
Covariance with South east bank ltd. 0.000000000
481 The Peninsula) Correlation with Samorita Hospital ltd. 0.135799554
Covariance with Samorita Hospital ltd. 0.000072181
482) The Peninsula Correlation with Shahjalal Islami bank ltd. -0.026638782
Covariance with Shahjalal Islami Bank ltd. -0.000012250
483) The Peninsula Correlation with Union Capital Ltd. 0.120068037
Covariance with Union Capital Ltd. 0.000075753
484) The Peninsula Correlation with Usmania glass sheet factory ltd. 0.089628906
Covariance with Usmania glass sheet factory ltd. 0.000055643
485) The Peninsula Correlation with Prime bank Ltd. -0.002179923
Covariance with Prime bank ltd. -0.000001087
486) The Peninsula Correlation with Rubali bank ltd. 0.043978648
Correlation with Rupali bank ltd. 0.000032922
487) The Peninsula Correlation with Rupali life insurance company ltd. 0.111854006
Covariance with Rupali life insurance Company ltd. 0.000065037
488) The Peninsula Correlation with Rangpur foundary ltd. 0.067302912
Covariance with Rangpur foundary ltd. 0.000036966
489) Correlation with Orion pharma ltd. 0.042833432
Covariance with Orion pharma ltd. 0.000017272
490) The Peninsula Correlation with Olympic accessories ltd. 0.316662775
Covarince with Olympic accessories ltd. 0.000191344
491) The Peninsula Correlation with S.Alam cold rolled steels ltd. 0.202667265
Covariance with S.alam cold rolled steels ltd. 0.000102258
492) The Peninsula Correlation with Saiham textile mills ltd. 0.264473723
Covariance with Saiham textile mills ltd. 0.000135143
493) The Peninsula Correlation with Reckitt benckiser(Bangladesh) ltd. -0.004251871
Covariance with Reckitt benkiser(bangladesh) ltd. -0.000001604
494) The Peninsula Correlation with Phoneix insurance company ltd. 0.070750506
Covariance with Phoneix insurance company ltd. 0.000036782
495) The Peninsula Correlation with AB Bank 1st mutual fund 0.148588954
Covariance with AB Bank 1st mutual fund 0.000069052

496) Prime textile Correlation with South east bank ltd. 0.00000000
Covariance with South east bank ltd. 0.00000000
497) Prime textile Correlation with Samorita Hospital ltd. 0.08442251
Covariance with Samorita Hospital ltd. 0.00004165
498) Prime textile Correlation with Shahjalal Islami bank ltd. 0.04192434
Covariance with Shahjalal Islami Bank ltd. 0.00001789
499) Prime textile Correlation with Union Capital Ltd. 0.14870522
Covariance with Union Capital Ltd. 0.00008708
500) Prime textile Correlation with Usmania glass sheet factory ltd. 0.03804106
Covariance with Usmania glass sheet factory ltd. 0.00002192
501) Prime textile Correlation with Prime bank Ltd. 0.06312701
Covariance with Prime bank ltd. 0.00002921
502) Prime textile Correlation with Rubali bank ltd. -0.00104928
Correlation with Rupali bank ltd. -0.00000073
503) Prime textile Correlation with Rupali life insurance company ltd. 0.00987982
Covariance with Rupali life insurance Company ltd. 0.00000533
504) Prime textile Correlation with Rangpur foundary ltd. 0.07583291
Covariance with Rangpur foundary ltd. 0.00003866
505) Prime textile Correlation with Orion pharma ltd. 0.03570369
Covariance with Orion pharma ltd. 0.00001336
506) Prime textile Correlation with Olympic accessories ltd. 0.21431100
Covarince with Olympic accessories ltd. 0.00012019
507) Prime textile Correlation with S.Alam cold rolled steels ltd. 0.18154512
Covariance with S.alam cold rolled steels ltd. 0.00008502
508) Prime textile Correlation with Saiham textile mills ltd. 0.34197939
Covariance with Saiham textile mills ltd. 0.00016219
509) Prime textile Correlation with Reckitt benckiser(Bangladesh) ltd. 0.01308114
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000458
510) Prime textile Correlation with Phoneix insurance company ltd. 0.04805790
Covariance with Phoneix insurance company ltd. 0.00002319
511) Prime textile Correlation with AB Bank 1st mutual fund 0.05699679
Covariance with AB Bank 1st mutual fund 0.00002458

512) South East Bank ltd. Correlation with Samorita Hospital ltd. 0.00000000
Covariance with Samorita Hospital ltd. 0.00000000
513) South East Bank ltd. Correlation with Shahjalal Islami bank ltd. 0.00000000
Covariance with Shahjalal Islami Bank ltd. 0.00000000
514) South East Bank ltd. Correlation with Union Capital Ltd. 0.00000000
Covariance with Union Capital Ltd. 0.00000000
515) South East Bank ltd.Correlation with Usmania glass sheet factory ltd. 0.00000000
Covariance with Usmania glass sheet factory ltd. 0.00000000
516) South East Bank ltd. Correlation with Prime bank Ltd. 0.00000000
Covariance with Prime bank ltd. 0.00000000
517) South East Bank ltd. Correlation with Rubali bank ltd. 0.00000000
Correlation with Rupali bank ltd. 0.00000000
518) South East Bank ltd.Correlation with Rupali life insurance company ltd. 0.00000000
Covariance with Rupali life insurance Company ltd. 0.00000000
519) South East Bank ltd. Correlation with Rangpur foundary ltd. 0.00000000
Covariance with Rangpur foundary ltd. 0.00000000
520) South East Bank ltd. Correlation with Orion pharma ltd. 0.00000000
Covariance with Orion pharma ltd. 0.00000000
521) South East Bank ltd. Correlation with Olympic accessories ltd. 0.00000000
Covarince with Olympic accessories ltd. 0.00000000
522) South East Bank ltd.Correlation with S.Alam cold rolled steels ltd. 0.00000000
Covariance with S.alam cold rolled steels ltd. 0.00000000
523) South East Bank ltd. Correlation with Saiham textile mills ltd. 0.00000000
Covariance with Saiham textile mills ltd. 0.00000000
524) South East Bank ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. 0.00000000
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000000
525) South East Bank ltd.Correlation with Phoneix insurance company ltd. 0.00000000
Covariance with Phoneix insurance company ltd. 0.00000000
526) South East Bank ltd. Correlation with AB Bank 1st mutual fund 0.00000000
Covariance with AB Bank 1st mutual fund 0.00000000

527) Samorita Hospital Ltd. Correlation with Shahjalal Islami bank ltd. -0.02823462
Covariance with Shahjalal Islami Bank ltd. -0.00001008
528) Samorita Hospital Ltd. Correlation with Union Capital Ltd. 0.04693514
Covariance with Union Capital Ltd. 0.00002300
529) Samorita Hospital Ltd. Correlation with Usmania glass sheet factory ltd. 0.23516109
Covariance with Usmania glass sheet factory ltd. 0.00011337
530) Samorita Hospital Ltd. Correlation with Prime bank Ltd. 0.02133896
Covariance with Prime bank ltd. 0.00000826
531) Samorita Hospital Ltd. Correlation with Rubali bank ltd. -0.02137186
Correlation with Rupali bank ltd. -0.00001242
532) Samorita Hospital Ltd. Correlation with Rupali life insurance company 0.09841525
ltd.
Covariance with Rupali life insurance Company ltd. 0.00004444
533) Samorita Hospital Ltd. Correlation with Rangpur foundary ltd. 0.24549595
Covariance with Rangpur foundary ltd. 0.00010471
534) Samorita Hospital Ltd. Correlation with Orion pharma ltd. 0.08480050
Covariance with Orion pharma ltd. 0.00002655
535) Samorita Hospital Ltd. Correlation with Olympic accessories ltd. 0.07675382
Covarince with Olympic accessories ltd. 0.00003601
536) Samorita Hospital Ltd. Correlation with S.Alam cold rolled steels ltd. 0.16748982
Covariance with S.alam cold rolled steels ltd. 0.00006562
537) Samorita Hospital Ltd. Correlation with Saiham textile mills ltd. 0.14193342
Covariance with Saiham textile mills ltd. 0.00005632
538) Samorita Hospital Ltd. Correlation with Reckitt benckiser(Bangladesh) 0.03233935
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000947
539) Samorita Hospital Ltd. Correlation with Phoneix insurance company ltd. 0.05177154
Covariance with Phoneix insurance company ltd. 0.00002090
540) Samorita Hospital Ltd. Correlation with AB Bank 1st mutual fund 0.02041234
541)Shahjalal Islami Bank Correlation with Union Capital Ltd. 0.202520756
Covariance with Union Capital Ltd. 0.000085840
542) Shahjalal Islami Bank Correlation with Usmania glass sheet factory ltd. -0.050253612
Covariance with Usmania glass sheet factory ltd. -0.000020959
543) Shahjalal Islami Bank Correlation with Prime bank Ltd. 0.322777927
Covariance with Prime bank ltd. 0.000108123
544) Shahjalal Islami Bank Correlation with Rubali bank ltd. 0.244950176
Correlation with Rupali bank ltd. 0.000123189
545) Shahjalal Islami Bank Correlation with Rupali life insurance company ltd. -0.013172521
Covariance with Rupali life insurance Company ltd. -0.000005145
546) Shahjalal Islami Bank Correlation with Rangpur foundary ltd. -0.052627336
Covariance with Rangpur foundary ltd. -0.000019419
547) Shahjalal Islami Bank Correlation with Orion pharma ltd. 0.060125999
Covariance with Orion pharma ltd. 0.000016288
548) Shahjalal Islami Bank Correlation with Olympic accessories ltd. -0.024650763
Covarince with Olympic accessories ltd. -0.000010007
549) Shahjalal Islami Bank Correlation with S.Alam cold rolled steels ltd. -0.027173274
Covariance with S.alam cold rolled steels ltd. -0.000009211
550) Shahjalal Islami Bank Correlation with Saiham textile mills ltd. -0.009061706
Covariance with Saiham textile mills ltd. -0.000003111
551) Shahjalal Islami Bank Correlation with Reckitt benckiser(Bangladesh) 0.007684701
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000001948
552) Shahjalal Islami Bank Correlation with Phoneix insurance company ltd. 0.060046616
Covariance with Phoneix insurance company ltd. 0.000020972
553) Shahjalal Islami Bank Correlation with AB Bank 1st mutual fund 0.102429808
Covariance with AB Bank 1st mutual fund 0.000031979

554)Union Capital Correlation with Usmania glass sheet factory ltd. -0.01205140
Covariance with Usmania glass sheet factory ltd. -0.00000690
555) Union Capital Correlation with Prime bank Ltd. 0.22263614
Covariance with Prime bank ltd. 0.00010232
556) Union Capital Correlation with Rubali bank ltd. 0.14375859
Correlation with Rupali bank ltd. 0.00009920
557) Union Capital Correlation with Rupali life insurance company ltd. 0.06324106
Covariance with Rupali life insurance Company ltd. 0.00003389
558) Union Capital Correlation with Rangpur foundary ltd. 0.01617098
Covariance with Rangpur foundary ltd. 0.00000819
559) Union Capital Correlation with Orion pharma ltd. 0.22192582
Covariance with Orion pharma ltd. 0.00008249
560) Union Capital Correlation with Olympic accessories ltd. 0.10317390
 Covarince with Olympic accessories ltd. 0.00005746
561) Union Capital Correlation with S.Alam cold rolled steels ltd. 0.07654463
Covariance with S.alam cold rolled steels ltd. 0.00003560
562) Union Capital Correlation with Saiham textile mills ltd. 0.15424279
Covariance with Saiham textile mills ltd. 0.00007265
563) Union Capital Correlation with Reckitt benckiser(Bangladesh) ltd. 0.00995561
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000346
564) Union Capital Correlation with Phoneix insurance company ltd. 0.15855073
Covariance with Phoneix insurance company ltd. 0.00007598
565) Union Capital Correlation with AB Bank 1st mutual fund 0.14976699

566)Usmania Glass sheet Factory Correlation with Prime bank Ltd. 0.038677539
Covariance with Prime bank ltd. 0.000017491
567) Usmania Glass sheet Factory Correlation with Rubali bank ltd. -0.022931491
Correlation with Rupali bank ltd. -0.000015570
568) Usmania Glass sheet Factory Correlation with Rupali life insurance 0.121681187
company ltd.
Covariance with Rupali life insurance Company ltd. 0.000064169
569 Usmania Glass sheet Factory) Correlation with Rangpur foundary ltd. 0.286641395
Covariance with Rangpur foundary ltd. 0.000142790
570) Usmania Glass sheet Factory Correlation with Orion pharma ltd. 0.030538354
Covariance with Orion pharma ltd. 0.000011169
571) Usmania Glass sheet Factory Correlation with Olympic accessories ltd. 0.051722458
Covarince with Olympic accessories ltd. 0.000028346
572) Usmania Glass sheet Factory Correlation with S.Alam cold rolled steels -0.000348930
ltd.
Covariance with S.alam cold rolled steels ltd. -0.000000160
573) Usmania Glass sheet Factory Correlation with Saiham textile mills ltd. 0.036133612
Covariance with Saiham textile mills ltd. 0.000016746
574) Usmania Glass sheet Factory Correlation with Reckitt 0.008168811
benckiser(Bangladesh) ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000002795
575) Usmania Glass sheet Factory Correlation with Phoneix insurance 0.046324291
company ltd.
Covariance with Phoneix insurance company ltd. 0.000021843
576) Usmania Glass sheet Factory Correlation with AB Bank 1st mutual fund 0.032049584

577)Prime Bank Ltd. Correlation with Rubali bank ltd. 0.290856012

Correlation with Rupali bank ltd. 0.000158611
578) Prime Bank Ltd. Correlation with Rupali life insurance company ltd. 0.008510790
Covariance with Rupali life insurance Company ltd. 0.000003605
579) Prime Bank Ltd. Correlation with Rangpur foundary ltd. -0.013761447
 Covariance with Rangpur foundary ltd. -0.000005506
580) Prime Bank Ltd. Correlation with Orion pharma ltd. 0.069783277
Covariance with Orion pharma ltd. 0.000020498
581) Prime Bank Ltd. Correlation with Olympic accessories ltd. 0.055973527
Covarince with Olympic accessories ltd. 0.000024638
582) Prime Bank Ltd. Correlation with S.Alam cold rolled steels ltd. 0.095744269
Covariance with S.alam cold rolled steels ltd. 0.000035191
583) Prime Bank Ltd. Correlation with Saiham textile mills ltd. -0.042435213
Covariance with Saiham textile mills ltd. -0.000015796
584) Prime Bank Ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. 0.040376323
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000011096
585) Prime Bank Ltd. Correlation with Phoneix insurance company ltd. 0.018415493
Covariance with Phoneix insurance company ltd. 0.000006974
586) Prime Bank Ltd. Correlation with AB Bank 1st mutual fund 0.102975288
Covariance with AB Bank 1st mutual fund 0.000034860

587)Rupali Bank Ltd. Correlation with Rupali life insurance company ltd. 0.04741970
Covariance with Rupali life insurance Company ltd. 0.00003015
588) Rupali Bank Ltd. Correlation with Rangpur foundary ltd. -0.04849563
Covariance with Rangpur foundary ltd. -0.00002913
589) Rupali Bank Ltd. Correlation with Orion pharma ltd. 0.09985591
Covariance with Orion pharma ltd. 0.00004404
590) Rupali Bank Ltd. Correlation with Olympic accessories ltd. 0.05596755
Covarince with Olympic accessories ltd. 0.00003699
591) Rupali Bank Ltd. Correlation with S.Alam cold rolled steels ltd. 0.00705694
Covariance with S.alam cold rolled steels ltd. 0.00000389
592) Rupali Bank Ltd. Correlation with Saiham textile mills ltd. 0.03308602
Covariance with Saiham textile mills ltd. 0.00001849
593) Rupali Bank Ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. 0.03387181
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00001398
594) Rupali Bank Ltd. Correlation with Phoneix insurance company ltd. 0.08825625
Covariance with Phoneix insurance company ltd. 0.00005018
595) Rupali Bank Ltd. Correlation with AB Bank 1st mutual fund 0.03371110
Covariance with AB Bank 1st mutual fund 0.00001713

596)Rupali Insurance Correlation with Rangpur foundary ltd. 0.0988723

Covariance with Rangpur foundary ltd. 0.0000461
597) Rupali Insurance Correlation with Orion pharma ltd. 0.0132264
Covariance with Orion pharma ltd. 0.0000045
598) Rupali Insurance Correlation with Olympic accessories ltd. 0.1179611
Covarince with Olympic accessories ltd. 0.0000605
599) Rupali Insurance Correlation with S.Alam cold rolled steels ltd. 0.0753163
Covariance with S.alam cold rolled steels ltd. 0.0000323
600) Rupali Insurance Correlation with Saiham textile mills ltd. 0.0239593
Covariance with Saiham textile mills ltd. 0.0000104
601) Rupali Insurance Correlation with Reckitt benckiser(Bangladesh) ltd. -0.0251444
Covariance with Reckitt benkiser(bangladesh) ltd. -0.0000081
602) Rupali Insurance Correlation with Phoneix insurance company ltd. 0.0200623
Covariance with Phoneix insurance company ltd. 0.0000089
603) Rupali Insurance Correlation with AB Bank 1st mutual fund 0.0248201
Covariance with AB Bank 1st mutual fund 0.0000098

604)Rangpur Foundry Ltd. Correlation with Orion pharma ltd. 0.00802060

Covariance with Orion pharma ltd. 0.00000260
605) Rangpur Foundry Ltd. Correlation with Olympic accessories ltd. 0.09791827
Covarince with Olympic accessories ltd. 0.00004748
606) Rangpur Foundry Ltd. Correlation with S.Alam cold rolled steels ltd. 0.00945836
Covariance with S.alam cold rolled steels ltd. 0.00000383
607) Rangpur Foundry Ltd. Correlation with Saiham textile mills ltd. 0.01137245
Covariance with Saiham textile mills ltd. 0.00000466
608) Rangpur Foundry Ltd. Correlation with Reckitt benckiser(Bangladesh) 0.03561013
ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00001078
609) Rangpur Foundry Ltd. Correlation with Phoneix insurance company ltd. 0.06794805
Covariance with Phoneix insurance company ltd. 0.00002835
610) Rangpur Foundry Ltd. Correlation with AB Bank 1st mutual fund 0.01833411
Covariance with AB Bank 1st mutual fund 0.00000684

611)Orion Pharma Ltd. Correlation with Olympic accessories ltd. 0.144325172

Covarince with Olympic accessories ltd. 0.000051376
612) Orion Pharma Ltd. Correlation with S.Alam cold rolled steels ltd. 0.108034637
Covariance with S.alam cold rolled steels ltd. 0.000032112
613) Orion Pharma Ltd. Correlation with Saiham textile mills ltd. -0.006182764
Covariance with Saiham textile mills ltd. -0.000001861
614) Orion Pharma Ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. 0.030862691
Covariance with Reckitt benkiser(bangladesh) ltd. 0.000006859
615) Orion Pharma Ltd. Correlation with Phoneix insurance company ltd. 0.162757286
Covariance with Phoneix insurance company ltd. 0.000049847
616) Orion Pharma Ltd. Correlation with AB Bank 1st mutual fund 0.012489544
Covariance with AB Bank 1st mutual fund 0.000003419

617)Olympic Accessories Ltd. Correlation with S.Alam cold rolled steels ltd. 0.21458741
Covariance with S.alam cold rolled steels ltd. 0.00009558
 618) Olympic Accessories Ltd. Correlation with Saiham textile mills ltd. 0.24599168
Covariance with Saiham textile mills ltd. 0.00011096
618) Olympic Accessories Ltd. Correlation with Reckitt 0.02239913
benckiser(Bangladesh) ltd.
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000746
619) Olympic Accessories Ltd. Correlation with Phoneix insurance company 0.04369239
ltd.
Covariance with Phoneix insurance company ltd. 0.00002005
620) Olympic Accessories Ltd. Correlation with AB Bank 1st mutual fund 0.14918498
Covariance with AB Bank 1st mutual fund 0.00006120

621) S. Alam Ltd. Correlation with Saiham textile mills ltd. 0.20580656
Covariance with Saiham textile mills ltd. 0.00007752
622) S. Alam Ltd. Correlation with Reckitt benckiser(Bangladesh) ltd. 0.02450939
Covariance with Reckitt benkiser(bangladesh) ltd. 0.00000682
623) S. Alam Ltd. Correlation with Phoneix insurance company ltd. 0.07579577
Covariance with Phoneix insurance company ltd. 0.00002905
624) S. Alam Ltd. Correlation with AB Bank 1st mutual fund 0.04842075
Covariance with AB Bank 1st mutual fund 0.00001659

625)Saiham Textile Correlation with Reckitt benckiser(Bangladesh) ltd. -0.010743797

Covariance with Reckitt benkiser(bangladesh) ltd. -0.000003026
626) Saiham Textile Correlation with Phoneix insurance company ltd. 0.041296319
Covariance with Phoneix insurance company ltd. 0.000016027
627) Saiham Textile Correlation with AB Bank 1st mutual fund 0.128686173
Covariance with AB Bank 1st mutual fund 0.000044645

628) Reckitt benckiser Correlation with Phoneix insurance company ltd. 0.035327048
Covariance with Phoneix insurance company ltd. 0.000010123
629) Reckitt benckiser Correlation with AB Bank 1st mutual fund -0.047905479
Covariance with AB Bank 1st mutual fund -0.000012270

630)Phoenix Insurance Company Ltd. Correlation with AB Bank 1st mutual 0.083020351
fund
Covariance with AB Bank 1st mutual fund 0.000029303

Covariance and Correlation Coefficient:

Covariance is a measure of the degree to which returns on two risky assets co vary or move together. A positive
covariance means that asset returns move together. A negative covariance means returns move inversely. One

method of calculating covariance is by looking at return surprises (deviations from expected return) in each

scenario. Correlation, in the world of finance, is a statistical measure of how two securities move in relation to each

other, which ranges between -1 and +1. The lower the correlation, the better the portfolio is. In the data

presentation we notice that some stocks are positively correlated with DSE index and some are negatively

correlated with DSE index. Zeal bangla and DSEX and Standard ceramic are negatively correlated.

On the other hand when one stock return is negatively correlated with another stock return we consider it as a well
diversified portfolio. In the above table we can see that many portfolios are negatively correlated.

Pragati insurance ltd. with Pharma aids ltd, Usmania glass sheet factory, Rupali life insurance ltd, Olympic
acceories ltd, Reckitt benckiser are negatively correlated. Pharma aids ltd with Shahjalal islami bank ltd, Union
capital ltd, Prime bank ltd, Rupali bank ltd, Rupali life insurance company ltd, Orion pharma ltd, reckitt benckiser
ltd are negatively correlated. Thus many other portfolios are negatively correlated as the above table shows.

We actually consider these as well diversified portfolio.

COMPANY NAME Market Capitalization

Zeal Bangla 208200000
Zaheen spinning 1399448340
Uttara Bank 11082225335
Uttara finance 7926456384
Summit power ltd. 42608301836
Standard ceramic 904491000
Social Islami bank 14049823154
Standard bank ltd. 9929259734
Standard Insurance 842315556
square textile ltd 9768670496
Sonar bangla insurance 615731685
Sandhani life insurance 2513926993
Saif power tech ltd. 8276507330
Reliance insurance 4493246483
Pragati insurance ltd. 1477315034
Pharma aids ltd. 1690104000
Padma oil company ltd. 22731058350
Padma islami life insurance 1030320000
The peninsula Chittagonog ltd. 3453203880
Prime textile spinning mills ltd. 1264420000
Southeast bank ltd. 1227346890
Samorita hospital 1342838350
Shahjalal islami bank ltd. 22911249411
Union capital ltd. 2547518636
Usmania glass sheet factory 1989591039
Prime bank ltd. 20381102604
Rupali bank ltd. 16717352092
Rupali life insurance company ltd. 1348124197
Rangpur foundary ltd. 1471000000
Orion pharma ltd. 9196200000
Olympic accessories ltd. 2512081639
S.Alam cold rolled steels ltd. 3433151390
Saiham textile mills ltd. 2834606250
Raeckitt benckiser ( Bangladesh) ltd. 8282925000
Phoenix insurance company ltd. 984334356.8
AB bank first mutual fund 1389712931

Market capitalization:

PORTFOLIO NAME PORTFOLIO RISK PORTFOLIO RETURN

1. Zeal Bangla and Zaheen spinning 0.023043478 0.000135824
2. Uttara bank and Uttara finance 0.013374416 0.000310296
3. Summit power ltd. And Standard 0.013887655 0.000045292
ceramic
4. Social islami bank and Standard 0.015275676 0.000462285
bank ltd.
5. Standard insurance and Squire 0.010460926 -0.000357438
textiles ltd.
6. Sonar bangla insurance and 0.016420861 -0.000561766
Sandhani life insurance
7. Saif power tech ltd. and Reliance 0.018031479 -0.00065233
insurance
8. Pragati insurance ltd. And Pharma 0.016276495 0.000955616
aids ltd.
9. Padma oil company ltd. and Padma 0.01357281 0.000019766
islami life insurance ltd.
10. The peninsula chittagong ltd.and 0.021224977 0.00075362
Prime textiles spinning mills ltd.
11. Southeast bank ltd. And Samorita 0.000000000 0.000000000
hospital
12. Shahjalal islami bank ltd. And 0.01663519 0.001098307
Union capital ltd.
13. Usmania glass sheet factory and 0.017750498 0.000165899
prime bank ltd.
 14. Rupali bank ltd. And Rupali life 0.026879375 0.00033716
insurance company ltd.
15. Rangpur foundary ltd. And Orion 0.013751858 0.000239459
pharma ltd.
16. Olympic accessories ltd. And S.alam 0.016444244 -0.000517483
cold rolled steels ltd.
17. Saiham textile mills ltd. And 0.012334934 0.000204518
Raeckitt benckiser (Bangladesh ) ltd.
18. Phoneix insurance company ltd. 0.013964519 0.000219277
And AB bank 1st mutual fund

To find out the financial position of the company of the company we calculate market capitalization. From the
data analysis we, find that all of the company’s financial position is very good. All the company has future growth
potential.

Portfolio Risk & Return

The Expected Return on a Portfolio is computed as the weighted average of the expected returns
on the stocks which comprise the portfolio. The weights reflect the proportion of the portfolio
invested in the stocks.

The risk/standard deviation of a portfolio reflects not only the risk/standard deviation of the
stocks that make up the portfolio but also how the returns on the stocks which comprise the
portfolio vary together. Two measures of how the returns on a pair of stocks vary together are the
covariance and the correlation coefficient. In markwitz model only consider two type of risk.
Weighted risk of each stock in the portfolio and the covariance risk. When one stock returns is
change it affect other stock return. So stocks return is not independent. From the above list we
can see that Saiham textile mills ltd. And Raeckitt benckiser (Bangladesh) ltd. and Shahjalal
islami bank ltd. And Union capital ltd these two portfolios have less risk with higher return
than any other portfolios. Saiham textile mills ltd. And raeckitt benckiser have a risk and return
combination of 0.012334934 and 0.000204518. And Shahjalal islami bank ltd. And Union
capital ltd have a risk and return combination of 0.01663519 and 0.001098307.

EFFICIENT FRONTIER CURVE

0.0015

0.001

0.0005

0
0 0. 005 0. 01 0. 015 0. 02 0. 025 0. 03
-0.0005

-0.001

After calculating all the different combination of risk and return, we draw a efficient frontier. All
are efficient sets of portfolio, where at a given level of risk return is optimal. Portfolio beyond
that line is desirable but not attainable. Portfolio below that line easily attainable but not
desirable. Shahjalal islami bank ltd. And Union capital ltd. combination offer higher return with
a given level of risk. For 0.01663519 this level of risk return is 0.001098307. Based on investor
behavior, they can prefer any combination of portfolio from the efficient frontier. Risk taker
investors prefer stock of Shahjalal islami bank ltd. And Union capital ltd. Portfolio. On the other
risk average investor prefer combination of Uttara bank and Uttara finance portfolio where
0.013374416 this level of risk return is 0.000310296.

STOCK BETA
Zeal Bangla -0.31159

Zaheen spinning 0.305052

Uttara Bank 0.329495

Uttara finance 0.160058

Summit power ltd. 0.255174

Standard ceramic -0.1949

Social Islami bank 0.481015

Standard bank ltd. 0.196998

Standard Insurance 0.21041

square textile ltd 0.243772

Sonar bangla insurance 0.138502

Sandhani life insurance 0.145406

Saif power tech ltd. 0.621575

Reliance insurance 0.016011

Pragati insurance ltd. 0.09392

Pharma aids ltd. 0.092368

Padma oil company ltd. 0.270389

Padma islami life insurance 0.339704

The peninsula Chittagonog ltd. 0.301346

Prime textile spinning mills ltd. 0.073034

Southeast bank ltd. 0.263852

Samorita hospital 0.294588

Shahjalal islami bank ltd. 0.270155

Union capital ltd. 0.527768

Usmania glass sheet factory 0.125677

Prime bank ltd. 0.404494

Rupali bank ltd. 0.432116

Rupali life insurance company ltd. 0.136953

Rangpur foundary ltd. 0.204534

Orion pharma ltd. 0.548242

Olympic accessories ltd. 0.332392

S.Alam cold rolled steels ltd. 0.386079

Saiham textile mills ltd. 0.031136

Raeckitt benckiser ( Bangladesh) ltd. 0.081981

Phoenix insurance company ltd. 0.424363

AB bank first mutual fund 0.136202

Beta:
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to
the market as a whole. . If a stock has beta of 1.0 it moves in congruence with the market. This
means if DSEX goes 1% in day, the stock should go up exactly 1% in a day. If the beta is
negative then it moves inversely, or opposite of the market. Very few stocks have negative betas.
So it is the most important to consider when we choosing the stocks. From the above table we
can see that only Zeal Bangla and Standard Ceramic which are -0.31159 and -0.1949. It means
volatility is higher which not a good sign. A beta of less than 1 means that the security is
theoretically less volatile than the market. A beta of greater than 1 indicates that the security's
price is theoretically more volatile than the market. From the above data we can see that all
stock’s beta are less than 1. So here all the stock’s are theoretically less volatile than the
market. Here Orion Pharma stock’s beta is higher than any other stock’s beta.

STOCK REQUIRED RATE OF

RETURN
Zeal Bangla 0.018840582
Zaheen Spinning 0.080505162
Uttara Bank 0.082949531
Uttara Finance LTD. 0.066005756
Summit Power ltd. 0.075517377
Standard ceramic 0.030509792
Social Islami bank 0.098101521
Standard Bank ltd. 0.069699826
Standard Insurance 0.071040979
Square Textile ltd. 0.07437715
Sonar Bangla Insurance 0.06385017
Sandhani Life Insurance 0.064540629
Saif Power Tech Ltd. 0.11215747
Reliance Insurance 0.051601097
Pragati Insurance Ltd. 0.059392006
Pharma Aids ltd. 0.059236768
Padma Oil Company Ltd. 0.077038943
Padma Islami Life Insurance 0.083970376
The Peninsula Chittagonog Ltd. 0.080134582
Prime Textile Spinning Mills ltd. 0.05730341
SouthEast Bank Ltd. 0.018840582
Samorita Hospital 0.079458844
Shahjalal Islami Bank Ltd. 0.077015461
Union Capital ltd. 0.102776799
Usmania Glass Sheet Factory LTD. 0.062567702
Prime Bank ltd. 0.090449362
Rupali Bank Ltd 0.093211557
Rupali life insurance company ltd. 0.063695341
Rangpur Foundary Ltd. 0.070453445
Orion Pharma ltd. 0.104824204
Olympic Accessories Ltd. 0.083239241
S.Alam Cold Rolled Steels ltd. 0.088607892
Saiham Textile Mills Ltd. 0.053113571
Raeckitt Benckiser (Bangladesh) ltd. 0.058198129
Phoenix Insurance Company Ltd. 0.092436262
AB Bank First Mutual Fund 0.063620239

Required Return: The minimum annual returns investor expects from company stocks. This is
the return an investor wants. The higher a company can provide, the more investor will invest on
that company stock. Investors use the RR to decide where to put their money. They compare the
return of an investment to all other available options, taking the risk-free rate of return,
systematic risk and risk premium into consideration in their calculation. From the above data we
can see that Orion Pharma ltd. Stock’s required return is higher than any other companie’s
required rate of return.

TOP 7 STOCKS!

1. Orion Pharma Ltd.

2. Saiham Textile Mills Ltd.

3. Raeckitt Benckiser (Bangladesh ) Ltd.

4. Shahjalal Islami Bank Ltd.

5. Union Capital Ltd.

6. Pragati Insurance Ltd.

7. Squire Textiles Ltd.

REASONS TO CHOOSE THESE 7 STOCKS
We choose Orion pharma based on required rate of return as well as based on beta. Orion
Pharma ltd. Stock’s required return is higher than any other companie’s required rate of return as
well as Orion Pharma stock’s beta is higher than any other stock’s beta.

We choose Saiham textiles mills ltd., Raeckitt benckiser, Shahjalal islami bank ltd and Union
capital based on portfolio risk and retun. Saiham textile mills ltd. And Raeckitt benckiser
(Bangladesh ) ltd and Shahjalal islami bank ltd. And Union capital ltd these two portfolios have
less risk with higher return than any other portfolios.

We choose Pragati insurance based on correlation and covariance. Pragati insurance ltd. with
Pharma aids ltd, Usmania glass sheet factory, Rupali life insurance ltd, Olympic acceories ltd,
Reckitt benckiser are negatively correlated. And we know that when one stock return is
negatively correlated with another stock return we consider it as a well diversified portfolio.

We choose Squire textiles ltd. Based on standard deviation. Squire textiles ltd’s standard
deviation is less than any other stock.

CONCLUSION:
We actually showed in the whole project that we can earn profits while investing in a secured
way by analyzing the stock properly. It is also possible to maximize the profits using wide
judgmental decisions with stock analysis. We hope that we will able to use our knowledge from
this report and become successful investor in the stock market. Sometimes selections of stocks
are difficult to measure which is good one or not. Sometimes small company doing well in the
stock market, but most of the cases shareholders do not interested about these companies shares.
Proper knowledge about the share market is only way to choose the right stock in a right time.