Kongsberg Automotive Correlations

KGAUF Stock

USD 0.16 0.00 0.00%

The current 90-days correlation between Kongsberg Automotive ASA and Luminar Technologies is -0.06 (i.e., Good diversification). The correlation of Kongsberg Automotive 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.

Kongsberg Automotive Correlation With Market

Good diversification

The correlation between Kongsberg Automotive ASA and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kongsberg Automotive ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kongsberg Pink Sheet

0.63	APTV	Aptiv PLC Sell-off Trend	Pair Corr
0.68	40049JAT4	Grupo Televisa SAB	Pair Corr

Moving against Kongsberg Pink Sheet

0.45	FYGGY	Fuyao Glass Industry	Pair Corr
0.41	DNZOY	Denso Corp ADR	Pair Corr
0.62	XPO	XPO Logistics	Pair Corr
0.53	581557AM7	US581557AM75	Pair Corr
0.47	DUOL	Duolingo	Pair Corr
0.46	API	Agora Inc Trending	Pair Corr
0.45	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.41	MGNI	Magnite	Pair Corr
0.35	SCWX	Secureworks Corp	Pair Corr
0.31	FTNT	Fortinet	Pair Corr

Related Correlations Analysis

	PTAIY	ALSN	LAZR	IOCJY	KNRRY	FLES	ID	ALLG
PTAIY		-0.3	0.52	-0.47	0.7	-0.04	-0.16	-0.25	PTAIY
ALSN	-0.3		-0.14	0.38	-0.62	-0.4	0.23	0.54	ALSN
LAZR	0.52	-0.14		-0.87	0.69	0.35	0.24	-0.42	LAZR
IOCJY	-0.47	0.38	-0.87		-0.77	-0.46	-0.13	0.52	IOCJY
KNRRY	0.7	-0.62	0.69	-0.77		0.48	-0.24	-0.43	KNRRY
FLES	-0.04	-0.4	0.35	-0.46	0.48		-0.11	-0.2	FLES
ID	-0.16	0.23	0.24	-0.13	-0.24	-0.11		-0.44	ID
ALLG	-0.25	0.54	-0.42	0.52	-0.43	-0.2	-0.44		ALLG
	PTAIY	ALSN	LAZR	IOCJY	KNRRY	FLES	ID	ALLG

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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

KNRRY	+ 0.7	PTAIY
KNRRY	+ 0.69	LAZR
ALLG	+ 0.54	ALSN
LAZR	+ 0.52	PTAIY
ALLG	+ 0.52	IOCJY
FLES	+ 0.48	KNRRY

High negative correlations

IOCJY	- 0.87	LAZR
KNRRY	- 0.77	IOCJY
KNRRY	- 0.62	ALSN
IOCJY	- 0.47	PTAIY
FLES	- 0.46	IOCJY
ALLG	- 0.44	ID

Risk-Adjusted Indicators

There is a big difference between Kongsberg Pink Sheet performing well and Kongsberg Automotive 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 Kongsberg Automotive'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
PTAIY	1.66	(0.05)	0.00	(0.12)	0.00	0.00	3.60	(3.20)	11.21
ALSN	1.23	0.28	0.17	0.70	1.20	(1.34)	3.04	(1.69)	12.69
LAZR	5.97	(0.63)	0.00	(7.06)	0.00	0.00	14.81	(11.43)	39.83
IOCJY	1.58	0.65	0.00	46.95	0.00	0.00	1.45	0.00	45.62
KNRRY	1.22	(0.31)	0.00	(2.43)	0.00	0.00	1.72	(2.54)	7.31
FLES	6.00	0.90	0.00	0.20	0.00	0.00	0.00	0.00	150.00
ID	5.67	0.66	0.08	(2.14)	6.33	(7.11)	13.95	(12.50)	36.21
ALLG	9.11	1.15	0.11	0.67	8.42	(13.09)	29.21	(19.20)	107.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kongsberg Automotive 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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Kongsberg Automotive Corporate Management

Joerg Buchheim	CEO Pres	Profile
Linda NyquistEvenrud	Ex Systems	Profile
Dzeki Mackinovski	Ex Purchasing	Profile
Robert Pigg	VP Systems	Profile
Christian Amsel	Ex CTO	Profile
Doug Tushar	VP Technology	Profile
Siw Waeras	Quality Director	Profile

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