DnB ASA Correlations

DNB Stock

NOK 292.80 2.80 0.95%

The current 90-days correlation between DnB ASA and Skue Sparebank is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DnB ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DnB ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DnB ASA Correlation With Market

Very poor diversification

The correlation between DnB ASA and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DnB ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DnB Stock

0.91	YAR	Yara International ASA	Pair Corr
0.63	EQNR	Equinor ASA	Pair Corr
0.81	MING	Sparebank 1 SMN	Pair Corr
0.89	STB	Storebrand ASA	Pair Corr
0.74	AKSO	Aker Solutions ASA	Pair Corr
0.82	KOG	Kongsberg Gruppen ASA	Pair Corr
0.71	AUSS	Austevoll Seafood ASA	Pair Corr
0.87	VEI	Veidekke ASA	Pair Corr
0.63	TGS	TGS NOPEC Geophysical	Pair Corr
0.9	SPOG	Sparebanken Ost	Pair Corr
0.84	ODL	Odfjell Drilling	Pair Corr
0.73	MELG	Melhus Sparebank	Pair Corr
0.67	ENTRA	Entra ASA	Pair Corr
0.81	SKUE	Skue Sparebank	Pair Corr
0.87	NHY	Norsk Hydro ASA	Pair Corr
0.9	BONHR	Bonheur	Pair Corr
0.73	ADS	ADS Maritime Holding	Pair Corr
0.85	WWIB	Wilh Wilhelmsen Holding	Pair Corr
0.7	DOFG	DOF Group ASA Earnings Call This Week	Pair Corr
0.69	STRO	Strongpoint ASA	Pair Corr
0.82	CADLR	Cadeler As	Pair Corr
0.88	HAUTO	Hoegh Autoliners ASA	Pair Corr
0.79	KRAB	Kraft Bank Asa	Pair Corr
0.62	KOMPL	Komplett AS	Pair Corr
0.72	ABL	ABL Group ASA	Pair Corr
0.74	BWLPG	BW LPG	Pair Corr
0.72	AFG	AF Gruppen ASA	Pair Corr
0.8	ARR	Arribatec Solutions ASA	Pair Corr
0.88	WAWI	Wallenius Wilhelmsen	Pair Corr
0.79	HSHP	Himalaya Shipping	Pair Corr
0.8	HEX	Hexagon Composites ASA	Pair Corr

Related Correlations Analysis

	MING	NONG	PARB	SNOR	SPOL	SOAG	RING	SPOG	SKUE
MING		0.95	0.44	0.81	0.91	0.61	0.73	0.85	0.81	MING
NONG	0.95		0.35	0.86	0.96	0.48	0.84	0.91	0.88	NONG
PARB	0.44	0.35		0.23	0.33	0.37	-0.01	0.17	0.32	PARB
SNOR	0.81	0.86	0.23		0.88	0.33	0.86	0.87	0.86	SNOR
SPOL	0.91	0.96	0.33	0.88		0.43	0.85	0.94	0.91	SPOL
SOAG	0.61	0.48	0.37	0.33	0.43		0.21	0.37	0.38	SOAG
RING	0.73	0.84	-0.01	0.86	0.85	0.21		0.92	0.88	RING
SPOG	0.85	0.91	0.17	0.87	0.94	0.37	0.92		0.93	SPOG
SKUE	0.81	0.88	0.32	0.86	0.91	0.38	0.88	0.93		SKUE
	MING	NONG	PARB	SNOR	SPOL	SOAG	RING	SPOG	SKUE

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

SPOL	+ 0.96	NONG
NONG	+ 0.95	MING
SPOG	+ 0.94	SPOL
SKUE	+ 0.93	SPOG
SPOG	+ 0.92	RING
SPOL	+ 0.91	MING

High negative correlations

RING

- 0.01

PARB

Risk-Adjusted Indicators

There is a big difference between DnB Stock performing well and DnB 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 DnB 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
MING	0.76	0.13	0.08	5.01	0.82	(0.78)	1.75	(1.51)	3.49
NONG	0.78	0.16	0.09	(6.02)	0.99	(0.76)	1.70	(1.77)	4.29
PARB	1.00	0.01	(0.04)	0.02	1.48	(0.90)	1.81	(2.02)	7.09
SNOR	1.00	0.14	0.08	0.57	1.06	(1.10)	1.81	(2.18)	7.17
SPOL	0.89	0.17	0.10	(3.89)	1.00	(0.97)	1.89	(1.81)	4.86
SOAG	0.86	0.06	0.01	0.35	0.94	(0.99)	2.02	(1.77)	4.90
RING	0.75	0.28	0.21	(2.72)	0.49	(0.94)	1.73	(1.44)	3.89
SPOG	0.80	0.20	0.12	(5.88)	1.00	(0.92)	1.46	(1.13)	8.03
SKUE	0.79	0.16	0.09	2.01	0.83	(0.88)	1.75	(1.44)	4.82

Be your own money manager

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