Akastor ASA Correlations

AKAST Stock

NOK 13.46 0.18 1.32%

The current 90-days correlation between Akastor ASA and Reach Subsea is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Akastor ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Akastor ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Akastor ASA Correlation With Market

Poor diversification

The correlation between Akastor ASA and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Akastor ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Akastor ASA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Akastor ASA 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 Akastor ASA - 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 Akastor ASA to buy it.

Moving together with Akastor Stock

0.9	AKER	Aker ASA Earnings Call Today	Pair Corr
0.93	SUBC	Subsea 7 SA	Pair Corr
0.96	AKSO	Aker Solutions ASA	Pair Corr
0.84	TGS	TGS NOPEC Geophysical	Pair Corr
0.74	BWO	BW Offshore	Pair Corr
0.81	SOFF	Solstad Offsho	Pair Corr
0.87	YAR	Yara International ASA	Pair Corr
0.85	WWI	Wilh Wilhelmsen Holding	Pair Corr
0.89	KOG	Kongsberg Gruppen ASA	Pair Corr

Moving against Akastor Stock

0.7	SNI	Stolt Nielsen Limited	Pair Corr
0.64	PYRUM	Pyrum Innovations	Pair Corr
0.38	BAKKA	Pf Bakkafrost	Pair Corr

Related Correlations Analysis

	REACH	OTL	PEN	ABL	NOL	OKEA	SDSD	PRS	NORAM	DVD
REACH		0.71	0.7	0.67	0.1	0.64	0.43	0.02	0.39	0.27	REACH
OTL	0.71		0.56	0.62	0.29	0.65	0.42	-0.05	0.52	0.48	OTL
PEN	0.7	0.56		0.83	0.26	0.88	0.22	0.3	0.4	0.27	PEN
ABL	0.67	0.62	0.83		0.47	0.75	0.41	0.31	0.58	0.36	ABL
NOL	0.1	0.29	0.26	0.47		0.43	0.44	0.46	0.81	0.65	NOL
OKEA	0.64	0.65	0.88	0.75	0.43		0.4	0.23	0.62	0.46	OKEA
SDSD	0.43	0.42	0.22	0.41	0.44	0.4		-0.05	0.57	0.45	SDSD
PRS	0.02	-0.05	0.3	0.31	0.46	0.23	-0.05		0.52	0.15	PRS
NORAM	0.39	0.52	0.4	0.58	0.81	0.62	0.57	0.52		0.63	NORAM
DVD	0.27	0.48	0.27	0.36	0.65	0.46	0.45	0.15	0.63		DVD
	REACH	OTL	PEN	ABL	NOL	OKEA	SDSD	PRS	NORAM	DVD

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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

OKEA	+ 0.88	PEN
ABL	+ 0.83	PEN
NORAM	+ 0.81	NOL
OKEA	+ 0.75	ABL
OTL	+ 0.71	REACH
PEN	+ 0.7	REACH

High negative correlations

PRS	- 0.05	SDSD
PRS	- 0.05	OTL

Risk-Adjusted Indicators

There is a big difference between Akastor Stock performing well and Akastor ASA 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 Akastor ASA'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
REACH	1.84	0.04	(0.01)	0.22	2.46	(2.15)	4.26	(5.31)	15.19
OTL	1.08	0.13	0.05	2.89	1.12	(1.25)	2.69	(2.01)	6.33
PEN	1.41	0.18	0.05	(0.66)	1.72	(1.54)	3.62	(2.89)	10.36
ABL	1.17	0.22	0.10	(0.58)	1.10	(1.49)	2.82	(1.86)	9.86
NOL	1.79	0.83	0.53	(0.80)	0.64	(2.53)	2.78	(1.71)	43.11
OKEA	2.13	0.46	0.16	(4.77)	2.11	(2.53)	4.27	(3.58)	10.29
SDSD	0.49	0.03	(0.06)	(0.13)	0.52	(1.05)	1.61	(1.08)	4.33
PRS	2.19	0.23	0.06	2.12	2.48	(2.50)	4.42	(4.93)	12.71
NORAM	1.13	0.41	0.29	(1.35)	0.72	(1.45)	2.75	(1.57)	9.74
DVD	1.21	0.13	0.03	(9.07)	1.44	(1.38)	2.51	(2.21)	7.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Akastor ASA 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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Akastor ASA Corporate Management

Elected by the shareholders, the Akastor ASA's board of directors comprises two types of representatives: Akastor ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Akastor. The board's role is to monitor Akastor ASA's management team and ensure that shareholders' interests are well served. Akastor ASA'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, Akastor ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.

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