NORDIC HALIBUT Correlations

Stocks . Germany . 
Stock . NORDIC HALIBUT AS
9K1 Stock  EUR 1.82  0.02  1.09%   
The current 90-days correlation between NORDIC HALIBUT AS and MICRONIC MYDATA is 0.04 (i.e., Significant diversification). The correlation of NORDIC HALIBUT 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.

NORDIC HALIBUT Correlation With Market

Good diversification

The correlation between NORDIC HALIBUT AS and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NORDIC HALIBUT AS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to NORDIC HALIBUT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NORDIC HALIBUT 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 NORDIC HALIBUT - 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 NORDIC HALIBUT AS to buy it.

Moving together with NORDIC Stock

  0.81Q6 Prosafe SEPairCorr
  0.69S0V SeaboardPairCorr

Moving against NORDIC Stock

  0.77DP4B AP MllerPairCorr
  0.76DP4A AP MllerPairCorr
  0.68MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.51APC Apple IncPairCorr
  0.51APC Apple IncPairCorr
  0.5APC Apple IncPairCorr
  0.49APC Apple IncPairCorr
  0.48APC Apple IncPairCorr
  0.48APC Apple IncPairCorr

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   
ADP
+ 0.86
3QD
ADP
+ 0.84
ZGY
ZGY
+ 0.82
D2V
ADP
+ 0.76
D2V
3QD
+ 0.7
ZGY
ADP
+ 0.67
CUW
  
High negative correlations   
ADP
- 0.72
FUY
3QD
- 0.61
FUY
FUY
- 0.53
CUW
D2V
- 0.45
FUY
ZGY
- 0.44
FUY
SIU
- 0.34
FUY

Risk-Adjusted Indicators

There is a big difference between NORDIC Stock performing well and NORDIC HALIBUT 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 NORDIC HALIBUT'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in NORDIC HALIBUT without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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