Dno ASA Correlations

DTNOF Stock

USD 1.65 0.03 1.85%

The current 90-days correlation between Dno ASA and Parex Resources is 0.02 (i.e., Significant diversification). The correlation of Dno 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.

Dno ASA Correlation With Market

Poor diversification

The correlation between Dno ASA and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dno ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dno Pink Sheet

0.7	COP	ConocoPhillips	Pair Corr
0.76	HES	Hess	Pair Corr
0.7	OXY	Occidental Petroleum	Pair Corr
0.83	BLAGF	Blue Lagoon Resources	Pair Corr
0.77	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.63	DUK-PA	Duke Energy	Pair Corr
0.69	LAND	Gladstone Land	Pair Corr
0.8	NTZ	Natuzzi SpA	Pair Corr
0.71	CGECF	Cogeco Inc	Pair Corr
0.71	SLSR	Solaris Resources	Pair Corr
0.81	TOGOF	TomaGold	Pair Corr
0.77	CAMZF	Camino Minerals	Pair Corr
0.67	UMAC	Unusual Machines	Pair Corr
0.61	GS	Goldman Sachs Group	Pair Corr
0.69	TLOFF	Talon Metals Corp	Pair Corr
0.7	EMMA	Emmaus Life Sciences	Pair Corr
0.83	TATT	Tat Techno	Pair Corr
0.66	AES	AES Aggressive Push	Pair Corr
0.66	NNBR	NN Inc	Pair Corr
0.77	CYD	China Yuchai Interna	Pair Corr

Moving against Dno Pink Sheet

0.6	AFIIQ	Armstrong Flooring	Pair Corr
0.36	BAM	Brookfield Asset Man Normal Trading	Pair Corr
0.33	WELL	Welltower Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PARXF	CDDRF	BIREF	SQZZF	AAVVF	AKRTF	COPJF	BWEFF	KELTF	CRLFF
PARXF		0.93	0.03	-0.22	-0.5	0.0	0.64	0.61	0.78	0.86	PARXF
CDDRF	0.93		0.13	-0.44	-0.58	0.0	0.74	0.74	0.72	0.8	CDDRF
BIREF	0.03	0.13		-0.16	0.49	0.0	-0.06	-0.1	0.16	0.28	BIREF
SQZZF	-0.22	-0.44	-0.16		0.46	0.0	-0.57	-0.65	-0.13	-0.1	SQZZF
AAVVF	-0.5	-0.58	0.49	0.46		0.0	-0.73	-0.75	-0.14	-0.12	AAVVF
AKRTF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AKRTF
COPJF	0.64	0.74	-0.06	-0.57	-0.73	0.0		0.87	0.44	0.38	COPJF
BWEFF	0.61	0.74	-0.1	-0.65	-0.75	0.0	0.87		0.39	0.34	BWEFF
KELTF	0.78	0.72	0.16	-0.13	-0.14	0.0	0.44	0.39		0.8	KELTF
CRLFF	0.86	0.8	0.28	-0.1	-0.12	0.0	0.38	0.34	0.8		CRLFF
	PARXF	CDDRF	BIREF	SQZZF	AAVVF	AKRTF	COPJF	BWEFF	KELTF	CRLFF

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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

CDDRF	+ 0.93	PARXF
BWEFF	+ 0.87	COPJF
CRLFF	+ 0.86	PARXF
CRLFF	+ 0.8	CDDRF
CRLFF	+ 0.8	KELTF
KELTF	+ 0.78	PARXF

High negative correlations

BWEFF	- 0.75	AAVVF
COPJF	- 0.73	AAVVF
BWEFF	- 0.65	SQZZF
AAVVF	- 0.58	CDDRF
COPJF	- 0.57	SQZZF
AAVVF	- 0.5	PARXF

Risk-Adjusted Indicators

There is a big difference between Dno Pink Sheet performing well and Dno 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 Dno 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
PARXF	1.79	0.22	0.07	0.67	2.26	(1.72)	4.02	(3.62)	10.02
CDDRF	1.64	0.63	0.25	5.86	1.62	(1.95)	3.76	(3.13)	9.28
BIREF	1.61	0.05	0.00	0.22	1.95	(1.80)	3.54	(2.96)	12.12
SQZZF	3.35	0.50	0.00	(0.17)	0.00	0.00	0.43	(1.48)	73.08
AAVVF	1.61	(0.13)	0.00	(0.51)	0.00	0.00	2.78	(4.00)	7.88
AKRTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COPJF	437.14	219.95	0.00	6.76	0.00	0.00	0.00	0.00	14,647
BWEFF	1.00	0.35	0.00	(2.72)	0.00	0.00	1.05	0.00	21.72
KELTF	2.49	0.23	0.06	0.56	2.90	(2.82)	3.80	(5.07)	18.62
CRLFF	1.83	0.20	0.07	0.39	2.09	(1.91)	3.92	(3.77)	9.77

Be your own money manager

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