Edda Wind Correlations
| EWIND Stock | 18.95 0.05 0.26% |
The current 90-days correlation between Edda Wind ASA and Solstad Offsho is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edda Wind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edda Wind ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Edda Wind Correlation With Market
Good diversification
The correlation between Edda Wind ASA and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edda Wind ASA and DJI in the same portfolio, assuming nothing else is changed.
Edda |
The ability to find closely correlated positions to Edda Wind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edda Wind 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 Edda Wind - 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 Edda Wind ASA to buy it.
Moving together with Edda Stock
Moving against Edda Stock
| 0.73 | SVEG | Sparebanken Vest | PairCorr |
| 0.69 | MING | Sparebank 1 SMN | PairCorr |
| 0.69 | SKUE | Skue Sparebank | PairCorr |
| 0.55 | TGS | TGS NOPEC Geophysical | PairCorr |
| 0.54 | BOUV | Bouvet | PairCorr |
| 0.53 | VGM | Vow Green Metals | PairCorr |
| 0.45 | MORG | Sparebanken Mre Earnings Call This Week | PairCorr |
| 0.42 | AKSO | Aker Solutions ASA | PairCorr |
| 0.42 | SPIR | Spir Group ASA | PairCorr |
| 0.42 | XPLRA | Xplora Technologies | PairCorr |
| 0.4 | SUBC | Subsea 7 SA | PairCorr |
| 0.36 | SOFF | Solstad Offsho | PairCorr |
| 0.36 | ZAP | Zaptec AS | PairCorr |
| 0.34 | ULTI | Ultimovacs ASA | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Edda Stock performing well and Edda Wind 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 Edda Wind'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AKER | 1.00 | 0.13 | 0.07 | (1.19) | 1.19 | 2.13 | 7.64 | |||
| SUBC | 1.25 | 0.12 | 0.05 | (0.85) | 1.81 | 2.60 | 7.06 | |||
| AKSO | 1.87 | 0.44 | 0.14 | (0.57) | 2.52 | 3.89 | 21.73 | |||
| TGS | 1.42 | 0.28 | 0.15 | (2.23) | 1.36 | 3.42 | 9.44 | |||
| BWO | 1.98 | (0.04) | 0.00 | (1.10) | 0.00 | 3.95 | 17.21 | |||
| SOFF | 2.17 | 0.35 | 0.14 | (12.91) | 2.08 | 4.28 | 27.89 | |||
| AKAST | 1.34 | (0.03) | 0.00 | 0.30 | 0.00 | 3.32 | 9.87 | |||
| SDNS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Edda Wind 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.Did you try this?
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Edda Wind Corporate Management
Elected by the shareholders, the Edda Wind's board of directors comprises two types of representatives: Edda Wind inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Edda. The board's role is to monitor Edda Wind's management team and ensure that shareholders' interests are well served. Edda Wind'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, Edda Wind's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Tom Austrheim | Chief Officer | Profile | |
| Jan Lodden | Chief Officer | Profile | |
| Kenneth Walland | Chief Officer | Profile | |
| Hakon Vevang | Chief Officer | Profile |