Integrated Wind Correlations
| IWS Stock | NOK 53.44 0.41 0.76% |
The current 90-days correlation between Integrated Wind Solutions and Cloudberry Clean Energy is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Integrated Wind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Integrated Wind Solutions moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Integrated Wind Correlation With Market
Very poor diversification
The correlation between Integrated Wind Solutions and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Wind Solutions and DJI in the same portfolio, assuming nothing else is changed.
Integrated |
The ability to find closely correlated positions to Integrated 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 Integrated 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 Integrated 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 Integrated Wind Solutions to buy it.
Moving together with Integrated Stock
| 0.8 | SCATC | Scatec Solar OL | PairCorr |
| 0.82 | OTOVO | Otovo AS Split | PairCorr |
| 0.62 | MPCES | MPC Energy Solutions | PairCorr |
| 0.88 | DNB | DnB ASA | PairCorr |
| 0.8 | MING | Sparebank 1 SMN | PairCorr |
| 0.9 | NHY | Norsk Hydro ASA | PairCorr |
| 0.82 | KOG | Kongsberg Gruppen ASA | PairCorr |
| 0.69 | ELK | Elkem ASA | PairCorr |
| 0.8 | NRC | NRC Group ASA | PairCorr |
| 0.94 | SPOG | Sparebanken Ost | PairCorr |
| 0.94 | BONHR | Bonheur | PairCorr |
| 0.65 | KRAB | Kraft Bank Asa | PairCorr |
| 0.72 | ADS | ADS Maritime Holding | PairCorr |
| 0.87 | NONG | Sparebank 1 Nord | PairCorr |
| 0.63 | EAM | EAM Solar ASA | PairCorr |
| 0.83 | HEX | Hexagon Composites ASA | PairCorr |
| 0.77 | KOMPL | Komplett AS | PairCorr |
| 0.9 | VEI | Veidekke ASA | PairCorr |
| 0.67 | GYL | Gyldendal ASA | PairCorr |
| 0.91 | WWIB | Wilh Wilhelmsen Holding | PairCorr |
| 0.81 | CADLR | Cadeler As | PairCorr |
| 0.61 | HDLY | Huddly AS Earnings Call This Week | PairCorr |
| 0.75 | AFG | AF Gruppen ASA | PairCorr |
| 0.72 | DOFG | DOF Group ASA Earnings Call This Week | PairCorr |
| 0.9 | WWI | Wilh Wilhelmsen Holding | PairCorr |
| 0.79 | AUSS | Austevoll Seafood ASA | PairCorr |
| 0.88 | WAWI | Wallenius Wilhelmsen | PairCorr |
Moving against Integrated Stock
Related Correlations Analysis
| 0.08 | 0.2 | -0.31 | 0.6 | 0.56 | MPCES | ||
| 0.08 | 0.42 | 0.5 | -0.15 | -0.05 | SKAND | ||
| 0.2 | 0.42 | 0.1 | 0.08 | 0.11 | OSUN | ||
| -0.31 | 0.5 | 0.1 | -0.63 | -0.55 | CLOUD | ||
| 0.6 | -0.15 | 0.08 | -0.63 | 0.92 | CADLR | ||
| 0.56 | -0.05 | 0.11 | -0.55 | 0.92 | OTOVO | ||
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 Integrated Stock performing well and Integrated 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 Integrated 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MPCES | 1.99 | 0.72 | 0.40 | 0.73 | 0.98 | 2.71 | 45.58 | |||
| SKAND | 3.38 | 0.11 | 0.02 | 0.19 | 4.23 | 6.43 | 25.36 | |||
| OSUN | 4.05 | 0.34 | 0.08 | 0.43 | 3.78 | 6.87 | 63.01 | |||
| CLOUD | 0.82 | (0.06) | 0.00 | 0.20 | 0.00 | 1.99 | 14.19 | |||
| CADLR | 1.85 | 0.54 | 0.22 | 1.99 | 1.78 | 5.07 | 10.67 | |||
| OTOVO | 4.11 | 0.89 | 0.20 | 1.88 | 3.72 | 11.28 | 31.75 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Integrated 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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