EAM Solar Correlations

EAM Stock

NOK 0.07 0 2.70%

The current 90-days correlation between EAM Solar ASA and Otello ASA is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EAM Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EAM Solar ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EAM Solar Correlation With Market

Good diversification

The correlation between EAM Solar ASA and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EAM Solar ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against EAM Stock

0.79	SPOG	Sparebanken Ost	Pair Corr
0.78	AKSO	Aker Solutions ASA	Pair Corr
0.75	SDSD	SD Standard Drilling	Pair Corr
0.74	PEXIP	Pexip Holding ASA	Pair Corr
0.71	MOBA	Morrow Bank ASA	Pair Corr
0.7	AKER	Aker ASA	Pair Corr
0.68	GIGA	Gigante Salmon AS	Pair Corr
0.62	HSPG	Holand og Setskog	Pair Corr
0.6	NONG	Sparebank 1 Nord	Pair Corr
0.54	SKUE	Skue Sparebank	Pair Corr
0.54	ROMER	Romerike Sparebank	Pair Corr
0.53	ULTI	Ultimovacs ASA	Pair Corr
0.45	SPOL	SpareBank 1 stlandet	Pair Corr
0.85	BIEN	Bien Sparebank ASA	Pair Corr
0.79	MORG	Sparebanken Mre Earnings Call This Week	Pair Corr
0.78	POL	Polaris Media	Pair Corr
0.76	AASB	Aasen Sparebank	Pair Corr
0.75	XPLRA	Xplora Technologies	Pair Corr
0.7	KOG	Kongsberg Gruppen ASA	Pair Corr
0.64	MING	Sparebank 1 SMN	Pair Corr
0.64	BOUV	Bouvet	Pair Corr
0.61	JAREN	Jaeren Sparebank	Pair Corr
0.59	HELG	Helgeland Sparebank	Pair Corr
0.55	SVEG	Sparebanken Vest	Pair Corr
0.52	AKBM	Aker Biomarine AS	Pair Corr
0.45	SPIR	Spir Group ASA	Pair Corr

Related Correlations Analysis

	OTEC	PRS	GIGA	HUNT	PPG	SAGA	AKAST
OTEC		0.52	-0.04	0.66	-0.23	0.55	0.15	OTEC
PRS	0.52		-0.43	0.77	-0.29	0.82	0.07	PRS
GIGA	-0.04	-0.43		-0.25	-0.15	-0.34	0.35	GIGA
HUNT	0.66	0.77	-0.25		-0.28	0.71	0.04	HUNT
PPG	-0.23	-0.29	-0.15	-0.28		-0.49	-0.14	PPG
SAGA	0.55	0.82	-0.34	0.71	-0.49		0.27	SAGA
AKAST	0.15	0.07	0.35	0.04	-0.14	0.27		AKAST
	OTEC	PRS	GIGA	HUNT	PPG	SAGA	AKAST

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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

SAGA	+ 0.82	PRS
HUNT	+ 0.77	PRS
SAGA	+ 0.71	HUNT
HUNT	+ 0.66	OTEC
SAGA	+ 0.55	OTEC
PRS	+ 0.52	OTEC

High negative correlations

SAGA	- 0.49	PPG
GIGA	- 0.43	PRS
SAGA	- 0.34	GIGA
PPG	- 0.29	PRS
PPG	- 0.28	HUNT
HUNT	- 0.25	GIGA

Risk-Adjusted Indicators

There is a big difference between EAM Stock performing well and EAM Solar 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 EAM Solar'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
OTEC	0.72	(0.03)	0.00	0.24	0.00	0.00	2.07	(1.52)	4.44
PRS	5.85	(0.52)	0.00	(1.22)	0.00	0.00	8.89	(16.67)	85.83
GIGA	1.73	0.26	0.08	(0.50)	2.17	(2.17)	5.99	(3.30)	18.79
HUNT	7.75	0.36	0.05	0.16	7.78	(10.65)	19.23	(15.71)	72.35
PPG	0.33	0.01	(0.03)	0.08	0.32	(0.42)	0.62	(0.61)	1.63
SAGA	0.62	(0.10)	0.00	(1.84)	0.00	0.00	0.81	(1.55)	4.69
AKAST	1.34	(0.03)	0.00	0.30	0.00	0.00	3.32	(2.30)	9.87

Be your own money manager

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