DOF Group Correlations

DOFG Stock

112.50 1.70 1.53%

The current 90-days correlation between DOF Group ASA and Hoegh Autoliners ASA is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DOF Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DOF Group ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DOF Group Correlation With Market

Poor diversification

The correlation between DOF Group ASA and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOF Group ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DOF Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DOF Group 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 DOF Group - 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 DOF Group ASA to buy it.

Moving together with DOF Stock

0.63	EQNR	Equinor ASA Earnings Call This Week	Pair Corr
0.65	DNB	DnB ASA Earnings Call This Week	Pair Corr
0.72	AKRBP	Aker BP ASA	Pair Corr
0.86	NHY	Norsk Hydro ASA	Pair Corr
0.7	YAR	Yara International ASA	Pair Corr
0.73	VAR	Var Energi ASA	Pair Corr
0.82	AUTO	AutoStore Holdings	Pair Corr

Moving against DOF Stock

0.32

TEL

Telenor ASA

Pair Corr

Related Correlations Analysis

	VEI	WWI	WWIB	AFG	BWLPG	SNI	NORCO	NAS	CADLR	HAUTO
VEI		0.94	0.95	0.88	0.54	0.45	-0.72	0.47	0.57	0.82	VEI
WWI	0.94		0.99	0.78	0.62	0.54	-0.68	0.36	0.72	0.86	WWI
WWIB	0.95	0.99		0.78	0.65	0.53	-0.7	0.36	0.7	0.85	WWIB
AFG	0.88	0.78	0.78		0.18	0.33	-0.76	0.72	0.26	0.67	AFG
BWLPG	0.54	0.62	0.65	0.18		0.4	-0.25	-0.33	0.75	0.58	BWLPG
SNI	0.45	0.54	0.53	0.33	0.4		-0.53	0.01	0.25	0.25	SNI
NORCO	-0.72	-0.68	-0.7	-0.76	-0.25	-0.53		-0.47	-0.17	-0.43	NORCO
NAS	0.47	0.36	0.36	0.72	-0.33	0.01	-0.47		-0.11	0.29	NAS
CADLR	0.57	0.72	0.7	0.26	0.75	0.25	-0.17	-0.11		0.77	CADLR
HAUTO	0.82	0.86	0.85	0.67	0.58	0.25	-0.43	0.29	0.77		HAUTO
	VEI	WWI	WWIB	AFG	BWLPG	SNI	NORCO	NAS	CADLR	HAUTO

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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

WWIB	+ 0.99	WWI
WWIB	+ 0.95	VEI
WWI	+ 0.94	VEI
AFG	+ 0.88	VEI
HAUTO	+ 0.86	WWI
HAUTO	+ 0.85	WWIB

High negative correlations

NORCO	- 0.76	AFG
NORCO	- 0.72	VEI
NORCO	- 0.7	WWIB
NORCO	- 0.68	WWI
NORCO	- 0.53	SNI
NAS	- 0.47	NORCO

Risk-Adjusted Indicators

There is a big difference between DOF Stock performing well and DOF Group 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 DOF Group'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
VEI	0.85	0.22	0.15	2.99	0.70	(1.02)	1.88	(1.51)	7.39
WWI	1.05	0.47	0.31	(7.46)	0.60	(1.37)	2.64	(1.88)	7.92
WWIB	1.07	0.43	0.25	(4.17)	0.82	(1.36)	3.08	(1.77)	10.28
AFG	1.02	0.16	0.05	(0.33)	1.04	(1.22)	2.27	(1.82)	9.77
BWLPG	1.78	0.29	0.11	19.76	1.84	(2.08)	4.26	(3.14)	12.28
SNI	1.32	0.13	0.04	0.80	1.49	(1.37)	3.14	(2.91)	9.53
NORCO	1.14	(0.03)	0.00	0.29	0.00	0.00	1.84	(2.22)	5.82
NAS	1.41	(0.02)	0.00	0.45	0.00	0.00	3.06	(2.78)	11.00
CADLR	1.87	0.30	0.11	1.90	1.95	(2.12)	5.07	(3.16)	10.67
HAUTO	1.37	0.18	0.05	(4.26)	2.08	(1.37)	3.12	(3.61)	9.11

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

Veidekke ASA Wilh Wilhelmsen Holding Wilh Wilhelmsen Holding AF Gruppen ASA BW LPG Stolt Nielsen Limited Norconsult ASA Norwegian Air Shuttle Cadeler As Hoegh Autoliners ASA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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