Hafnia Correlations

Stocks . Germany . 
Stock . Hafnia Limited
1OQ Stock  EUR 4.98  0.28  5.96%   
The correlation of Hafnia is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Hafnia Correlation With Market

Average diversification

The correlation between Hafnia Limited and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hafnia Limited and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hafnia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hafnia when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hafnia - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hafnia Limited to buy it.

Moving together with Hafnia Stock

  0.85OYD Pacific Basin ShippingPairCorr
  0.63BW9 BW LPG LimitedPairCorr
  0.66PQ9 BANK MANDIRIPairCorr
  0.73PQ9 PT Bank MandiriPairCorr
  0.85PQ9 BANK MANDIRIPairCorr
  0.75PQ9 BANK MANDIRIPairCorr
  0.74BYRA PT Bank RakyatPairCorr
  0.72BYRA BANK RAKYAT INDPairCorr
  0.74BYRA BANK RAKYAT INDPairCorr

Moving against Hafnia Stock

  0.831DH Clarkson PLCPairCorr
  0.66DP4B AP MøllerPairCorr
  0.64DP4A AP MllerPairCorr
  0.64WML2 Wilh Wilhelmsen HoldingPairCorr
  0.89OD7B ETFS Coffee ETCPairCorr
  0.83C8C Consolidated CommunicationsPairCorr
  0.81SDP Summit Hotel PropertiesPairCorr
  0.75RHM Rheinmetall AGPairCorr
  0.74IFX Infineon TechnologiesPairCorr
  0.72CEK CEOTRONICS DusseldorfPairCorr
  0.72AAH AHLERSPairCorr
  0.71KEL Kellogg CompanyPairCorr
  0.7NY70 MOLSON RS BEVERAGEPairCorr
  0.65GI4 G III ApparelPairCorr
  0.621YD BroadcomPairCorr
  0.62FTK flatexDEGIRO AGPairCorr
  0.61SNQB SANOMA DusseldorfPairCorr
  0.57Z56 QINGCI GAMES INCPairCorr
  0.551FA SPROUTS FARMERS MKTPairCorr
  0.45UN9 UNIQA INSURANCE GRPairCorr
  0.88APC Apple IncPairCorr
  0.88NTOA NintendoPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FVJ
+ 0.38
3FNA
FVJ
+ 0.37
5PMA
WI20
+ 0.31
0B51
FRI
+ 0.21
3FNA
WI20
+ 0.15
FRI
WI20
+ 0.02
3FNA
  
High negative correlations   
FRI
- 0.64
5PMA
FVJ
- 0.64
0B51
3FNA
- 0.56
0B51
5PMA
- 0.4
0B51
WI20
- 0.39
FVJ
WI20
- 0.34
5PMA

Risk-Adjusted Indicators

There is a big difference between Hafnia Stock performing well and Hafnia Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Hafnia's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Hafnia Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Hafnia stock to make a market-neutral strategy. Peer analysis of Hafnia could also be used in its relative valuation, which is a method of valuing Hafnia by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Hafnia Corporate Management

Elected by the shareholders, the Hafnia's board of directors comprises two types of representatives: Hafnia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hafnia. The board's role is to monitor Hafnia's management team and ensure that shareholders' interests are well served. Hafnia's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hafnia's outside directors are responsible for providing unbiased perspectives on the board's policies.
Ralph JuhlEx TechnicalProfile
Soren JensenEx ManagementProfile
Sren WintherVP CommercialProfile
Mikael SkovChief OfficerProfile
Thomas AndersenResearch IRProfile
Perry EchteltChief OfficerProfile
Jens ChristophersenEx CommercialProfile
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