Airthings ASA Correlations

ARTGF Stock

USD 0.04 0.00 0.00%

The current 90-days correlation between Airthings ASA and Butler National Corp is 0.15 (i.e., Average diversification). The correlation of Airthings ASA 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.

Airthings ASA Correlation With Market

Pay attention - limited upside

The correlation between Airthings ASA and DJI is -0.79 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Airthings ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Airthings 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 Airthings 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 Airthings 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 Airthings ASA to buy it.

Moving together with Airthings Pink Sheet

0.68	PTAIF	PT Astra International	Pair Corr
0.64	PBCRF	PT Bank Central	Pair Corr

Moving against Airthings Pink Sheet

0.74	EC	Ecopetrol SA ADR Earnings Call Tomorrow	Pair Corr
0.64	BE	Bloom Energy Corp Aggressive Push	Pair Corr
0.63	MIELF	Mitsubishi Electric	Pair Corr
0.62	ABLZF	ABB	Pair Corr
0.61	MIELY	Mitsubishi Electric Corp	Pair Corr
0.56	NVT	nVent Electric PLC	Pair Corr
0.43	LGRDY	Legrand SA ADR	Pair Corr
0.39	VRT	Vertiv Holdings	Pair Corr
0.37	LGRVF	Legrand SA	Pair Corr
0.36	PTAIY	Astra International Tbk	Pair Corr
0.85	STMZF	Scottish Mortgage	Pair Corr
0.78	AP	Ampco Pittsburgh	Pair Corr
0.76	PUK	Prudential PLC ADR	Pair Corr
0.69	FHI	Federated Investors	Pair Corr
0.67	KTOS	Kratos Defense Security	Pair Corr
0.64	SAPMF	Saipem SpA	Pair Corr
0.63	TRTN-PC	Triton International	Pair Corr
0.63	NDGPY	Nine Dragons Paper	Pair Corr
0.54	DAC	Danaos	Pair Corr
0.5	PLD	Prologis Sell-off Trend	Pair Corr
0.49	FCNCA	First Citizens BancShares Downward Rally	Pair Corr
0.42	ODC	Oil Dri	Pair Corr
0.4	SOMMY	Sumitomo Chemical	Pair Corr
0.36	482480AM2	KLAC 495 15	Pair Corr
0.84	HYMC	Hycroft Mining Holding	Pair Corr
0.79	MKTDF	DeepMarkit Corp	Pair Corr
0.72	GLGDF	GoGold Resources	Pair Corr
0.67	NPSCY	Nippon Steel Corp	Pair Corr
0.67	TPC	Tutor Perini	Pair Corr
0.62	FMX	Fomento Economico	Pair Corr

Related Correlations Analysis

	AFGYF	SSCFF	DBMG	BUKS	TGHLF	AGXXF	CSCMY	GKPRF	QNTFF	ALFNF
AFGYF		0.0	0.63	0.75	0.43	-0.7	-0.28	-0.88	0.0	-0.2	AFGYF
SSCFF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SSCFF
DBMG	0.63	0.0		0.73	-0.04	-0.28	-0.03	-0.71	0.0	-0.1	DBMG
BUKS	0.75	0.0	0.73		0.19	-0.49	-0.23	-0.81	0.0	-0.26	BUKS
TGHLF	0.43	0.0	-0.04	0.19		-0.45	-0.18	-0.27	0.0	-0.28	TGHLF
AGXXF	-0.7	0.0	-0.28	-0.49	-0.45		0.11	0.72	0.0	0.31	AGXXF
CSCMY	-0.28	0.0	-0.03	-0.23	-0.18	0.11		0.28	0.0	0.06	CSCMY
GKPRF	-0.88	0.0	-0.71	-0.81	-0.27	0.72	0.28		0.0	0.28	GKPRF
QNTFF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	QNTFF
ALFNF	-0.2	0.0	-0.1	-0.26	-0.28	0.31	0.06	0.28	0.0		ALFNF
	AFGYF	SSCFF	DBMG	BUKS	TGHLF	AGXXF	CSCMY	GKPRF	QNTFF	ALFNF

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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

BUKS	+ 0.75	AFGYF
BUKS	+ 0.73	DBMG
GKPRF	+ 0.72	AGXXF
DBMG	+ 0.63	AFGYF
TGHLF	+ 0.43	AFGYF
ALFNF	+ 0.31	AGXXF

High negative correlations

GKPRF	- 0.88	AFGYF
GKPRF	- 0.81	BUKS
GKPRF	- 0.71	DBMG
AGXXF	- 0.7	AFGYF
AGXXF	- 0.49	BUKS
AGXXF	- 0.45	TGHLF

Risk-Adjusted Indicators

There is a big difference between Airthings Pink Sheet performing well and Airthings 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 Airthings 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
AFGYF	3.19	0.87	0.05	(0.42)	3.60	(13.90)	9.09	(7.69)	52.08
SSCFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DBMG	1.89	0.94	0.00	1.94	0.00	0.00	0.00	0.00	48.84
BUKS	2.33	0.53	0.18	1.61	2.14	(2.80)	6.60	(3.57)	22.24
TGHLF	0.49	0.08	(0.01)	(0.99)	0.48	(1.23)	1.50	(1.47)	6.04
AGXXF	2.02	(0.61)	0.00	(0.30)	0.00	0.00	3.73	(8.86)	36.41
CSCMY	3.78	0.09	0.01	0.23	5.64	(5.35)	10.00	(12.24)	33.56
GKPRF	1.99	(0.54)	0.00	(0.47)	0.00	0.00	5.00	(4.19)	14.42
QNTFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALFNF	0.04	(0.03)	0.00	(15.19)	0.00	0.00	0.00	0.00	1.35

Airthings ASA 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 Airthings ASA pink sheet to make a market-neutral strategy. Peer analysis of Airthings ASA could also be used in its relative valuation, which is a method of valuing Airthings ASA by comparing valuation metrics with similar companies.

AFC Energy plc Smartcool Systems DBM Global Butler National Corp Textainer Group Holdings Agilyx AS COSCO SHIPPING International Gatekeeper Systems Quantafuel ASA Alfen NV American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Airthings ASA Corporate Management

Anlaug Underdal	Staff Member	Profile
Tore Rismyhr	Sales Member	Profile
Oyvind Birkenes	Chief Officer	Profile
Jeremy Gerst	Chief Officer	Profile
Erlend Bolle	Chief Officer	Profile
Torje Carlsson	VP Consumer	Profile
Anita Overbekk	Director HR	Profile

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