Correlation ka matlab, kitne stocks kaafi hain, aur over-diversification ka nuksaan
Published by The Retail Trader · AUG 09, 2026 · Features
Bahut logon ka portfolio dikhne mein diversified hai — das-pandrah naam. Par agar unme se aath ek hi sector ke hain, to wo ek hi bet hai jise aath naam de diye gaye hain.
Diversification ka maqsad ye hai ki sab kuch ek saath na gire. Do stocks alag hone se kuch nahi hota, agar dono ek hi cheez par depend karte hain.
Ek hi sector ke stocks aksar ek saath chalte hain. Isliye asli sawaal ye nahi ki kitne naam hain — sawaal ye hai ki kitni alag-alag wajahon par aapka paisa laga hua hai.
Research is baat par kaafi consistent hai ki stock-specific risk ka bada hissa lagbhag 15-25 acchi tarah alag stocks tak kam ho jaata hai. Uske baad har naya naam bahut kam farq karta hai.
Uske aage sirf ek cheez badhti hai: aapka apna kaam. Ek insaan 40 companies ko theek se nahi padh sakta, aur jo padha nahi ja raha wo diversification nahi, ignorance hai.
Ye sab 'diversified' dikhta hai aur hai nahi:
• Paanch mutual funds jo lagbhag ek hi tarah ke stocks rakhte hain — overlap check kiye bina fund ginne ka koi matlab nahi.
• Alag-alag stocks jo sab ek hi theme par hain — ek hi kahani, kai naam.
• Sirf equity — asset class level par bhi diversification hota hai, aur wahi sabse zyada kaam aata hai.
• Sab kuch ek hi market mein — poore portfolio ka bhagya ek hi economy se juda hona bhi ek concentration hai.
Ek kadwi baat: bade crash mein lagbhag sab kuch ek saath girta hai. Jo diversification shaant din mein kaam karta dikhta hai, wo us ek din bahut kam kaam karta hai jab uski sabse zyada zaroorat hoti hai.
Isliye diversification akela risk management nahi hai. Position size aur cash level uske saath chahiye.
Bahut zyada names ka nateeja ye hota hai ki aapka portfolio index jaisa chalne lagta hai — par aap index ki laagat se kahin zyada de rahe ho, mehnat bhi kar rahe ho, aur tax bhi.
Us haalat mein imandaar jawab aksar ye hota hai: agar index jaisa hi return chahiye to seedha index le lo. Diversification ka matlab har cheez rakhna nahi hai; matlab ye hai ki koi ek cheez aapko khatam na kar sake.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.