Aker ASA Correlations

Stocks . Norway . 
Stock . Aker ASA
AKER Stock  NOK 584.00  1.00  0.17%   
The current 90-days correlation between Aker ASA and Storebrand ASA is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aker ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aker ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aker ASA Correlation With Market

Good diversification

The correlation between Aker ASA and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aker ASA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Aker 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 Aker 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 Aker 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 Aker ASA to buy it.

Moving together with Aker Stock

  0.62MORG Sparebanken Mre Earnings Call This WeekPairCorr
  0.7KOG Kongsberg Gruppen ASAPairCorr
  0.72XPLRA Xplora TechnologiesPairCorr
  0.82AKSO Aker Solutions ASAPairCorr
  0.67BOUV BouvetPairCorr

Moving against Aker Stock

  0.32TEL Telenor ASAPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
YAR
+ 0.59
ORK
DNB
+ 0.46
AKSO
DNB
+ 0.43
STB
YAR
+ 0.43
STB
ORK
+ 0.3
STB
  
High negative correlations   
YAR
- 0.67
AKSO
ORK
- 0.37
AKSO
ORK
- 0.29
DNB
YAR
- 0.18
DNB
AKSO
- 0.13
STB

Risk-Adjusted Indicators

There is a big difference between Aker Stock performing well and Aker 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 Aker 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aker 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.

Did you try this?

Run USA ETFs Now

   

USA ETFs

Find actively traded Exchange Traded Funds (ETF) in USA
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY