Atea ASA Correlations

ATEAY Stock

USD 8.23 0.11 1.35%

The current 90-days correlation between Atea ASA and ChinaSoft International is 0.23 (i.e., Modest diversification). The correlation of Atea 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Atea ASA Correlation With Market

Poor diversification

The correlation between Atea ASA and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atea ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Atea Pink Sheet

0.67	NCRRP	NCR Corp Pref	Pair Corr
0.69	CTSH	Cognizant Technology	Pair Corr
0.61	GNTX	Gentex	Pair Corr
0.75	FIBK	First Interstate Ban Normal Trading	Pair Corr
0.64	YLLXF	Yellow Cake plc	Pair Corr
0.62	AROC	Archrock Symbol Change	Pair Corr
0.67	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.71	FCAP	First Capital Downward Rally	Pair Corr
0.67	BNKHF	BOC Hong Kong	Pair Corr

Moving against Atea Pink Sheet

0.7	BROGF	BROGF	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr
0.63	PBCRF	PT Bank Central	Pair Corr
0.59	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.56	NECPY	NEC ADR	Pair Corr

Related Correlations Analysis

	CFTLF	HLTEF	AITUY	ULPRF	ASAAF	DLGEF	AEXAF	TMVWF	QTGPF	SLOIY
CFTLF		0.87	0.0	0.0	0.49	0.0	0.16	0.31	0.58	0.68	CFTLF
HLTEF	0.87		0.0	0.0	0.41	0.0	0.08	0.43	0.63	0.71	HLTEF
AITUY	0.0	0.0		1.0	0.0	0.0	0.0	0.0	0.0	0.0	AITUY
ULPRF	0.0	0.0	1.0		0.0	0.0	0.0	0.0	0.0	0.0	ULPRF
ASAAF	0.49	0.41	0.0	0.0		0.0	0.05	0.57	0.72	0.53	ASAAF
DLGEF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DLGEF
AEXAF	0.16	0.08	0.0	0.0	0.05	0.0		0.23	0.06	0.11	AEXAF
TMVWF	0.31	0.43	0.0	0.0	0.57	0.0	0.23		0.74	0.69	TMVWF
QTGPF	0.58	0.63	0.0	0.0	0.72	0.0	0.06	0.74		0.61	QTGPF
SLOIY	0.68	0.71	0.0	0.0	0.53	0.0	0.11	0.69	0.61		SLOIY
	CFTLF	HLTEF	AITUY	ULPRF	ASAAF	DLGEF	AEXAF	TMVWF	QTGPF	SLOIY

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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

ULPRF	+ 1.0	AITUY
HLTEF	+ 0.87	CFTLF
QTGPF	+ 0.74	TMVWF
QTGPF	+ 0.72	ASAAF
SLOIY	+ 0.71	HLTEF
SLOIY	+ 0.69	TMVWF

High negative correlations

SLOIY	- 0.0	DLGEF
QTGPF	- 0.0	DLGEF
TMVWF	- 0.0	DLGEF
AEXAF	- 0.0	DLGEF
DLGEF	- 0.0	ASAAF
SLOIY	- 0.0	ULPRF

Risk-Adjusted Indicators

There is a big difference between Atea Pink Sheet performing well and Atea 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 Atea 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	Treynor Ratio	Value @Risk	Maximum Drawdown
CFTLF	0.56	(0.18)	1.21	(2.86)	8.11
HLTEF	0.16	(0.08)	1.67	0.00	5.07
AITUY	0.00	0.00	0.00	0.00	0.00
ULPRF	0.00	0.00	0.00	0.00	0.00
ASAAF	0.02	0.00	0.00	0.00	0.51
DLGEF	0.00	0.00	0.00	0.00	0.00
AEXAF	0.78	0.02	(4.07)	(3.12)	24.80
TMVWF	0.68	(0.17)	0.66	(2.42)	10.35
QTGPF	1.13	(0.54)	(13.13)	(2.76)	19.34
SLOIY	1.45	(0.08)	0.19	0.00	43.28

Be your own money manager

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

Arunas Bartusevicius	Managing UAB	Profile
Steinar Sonsteby	Chief Officer	Profile
Ole Saxrud	Managing Director	Profile
Ole Fjellestad	Group Accountant	Profile
Kathrine Forsberg	Managing Denmark	Profile
Ignas Bartkus	Group Controller	Profile
CarlJohan Hultenheim	Chief Officer	Profile

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