Nel ASA Correlations

Stocks . Germany . 
Stock . Nel ASA
D7G Stock  EUR 0.19  0.06  24.00%   
The current 90-days correlation between Nel ASA and Ballard Power Systems is 0.41 (i.e., Very weak diversification). The correlation of Nel 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.

Nel ASA Correlation With Market

Significant diversification

The correlation between Nel ASA and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nel ASA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nel 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 Nel 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 Nel 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 Nel ASA to buy it.

Moving together with Nel Stock

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  0.87VWSB Vestas Wind SystemsPairCorr

Moving against Nel Stock

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  0.57SIE Siemens AktiengesellschaPairCorr
  0.54SIEB SIEMENS AG SPPairCorr
  0.46SND Schneider ElectricPairCorr
  0.913RKU RYOHIN UNSPADR/1PairCorr
  0.9XKR KAR Auction ServicesPairCorr
  0.88IUI1 Intuitive Surgical Earnings Call This WeekPairCorr
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  0.81FOO SalesforcePairCorr
  0.8CAI CDN IMPERIAL BANKPairCorr
  0.79VRS VERISIGNPairCorr
  0.7FDX FedExPairCorr
  0.69CFC UET United ElectronicPairCorr
  0.68APC Apple IncPairCorr
  0.67CHV CHEVRON DusseldorfPairCorr
  0.62ZFI1 Zurich InsurancePairCorr
  0.59IFX Infineon TechnologiesPairCorr
  0.43GI4 G III ApparelPairCorr
  0.39M7U M-U-T -PairCorr
  0.94RHM Rheinmetall AGPairCorr
  0.9HEI Heidelberg MaterialsPairCorr
  0.84C8C Consolidated CommunicationsPairCorr
  0.82LIE SUN LIFE FINANCIALPairCorr
  0.78NTOA NintendoPairCorr
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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   
PLUN
+ 0.82
PO0
3CP
+ 0.78
PLUN
IJ8
+ 0.69
27W
3CP
+ 0.5
PO0
PO0
+ 0.1
IJ8
PO0
+ 0.06
27W
  
High negative correlations   
3CP
- 0.54
IJ8
3CP
- 0.54
27W
PLUN
- 0.3
27W
PLUN
- 0.21
IJ8

Risk-Adjusted Indicators

There is a big difference between Nel Stock performing well and Nel 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 Nel 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 Nel 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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Nel ASA Corporate Management

Elected by the shareholders, the Nel ASA's board of directors comprises two types of representatives: Nel ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nel. The board's role is to monitor Nel ASA's management team and ensure that shareholders' interests are well served. Nel 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, Nel ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.
Jorn RosenlundChief OfficerProfile
Esa LaukkanenChief OfficerProfile
Filip SmeetsChief ElectrolyserProfile
Hans HideChief ElectrolyserProfile
Stein ErdalSr CounselProfile
Robert BorinVP DivisionProfile
Hakon VolldalChief OfficerProfile
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