Nel ASA Correlations

NLLSF Stock

USD 0.21 0.02 8.70%

The current 90-days correlation between Nel ASA and Semperit Aktiengesellschaft Holding is -0.18 (i.e., Good diversification). The correlation of Nel 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.

Nel ASA Correlation With Market

Very good diversification

The correlation between Nel ASA and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nel ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Nel Pink Sheet

0.5	FMCB	Farmers Merchants Bancorp	Pair Corr
0.47	GEV	GE Vernova LLC	Pair Corr
0.46	PH	Parker Hannifin	Pair Corr
0.45	GE	GE Aerospace	Pair Corr
0.43	SBGSF	Schneider Electric Earnings Call Tomorrow	Pair Corr
0.42	SBGSY	Schneider Electric Earnings Call Tomorrow	Pair Corr
0.42	ITW	Illinois Tool Works	Pair Corr
0.39	DAIUF	Daifuku Co	Pair Corr
0.34	NFPDF	Nissin Foods Holdings	Pair Corr
0.33	EMR	Emerson Electric	Pair Corr
0.44	ACGL	Arch Capital Group	Pair Corr
0.44	JOE	St Joe Company Earnings Call Today	Pair Corr
0.42	UAA	Under Armour A	Pair Corr
0.41	STRS	Stratus Properties	Pair Corr
0.41	CENT	Central Garden Pet	Pair Corr
0.41	OTSKY	Otsuka Holdings	Pair Corr
0.38	MSGE	Madison Square Garden	Pair Corr
0.37	ACNE	Alice Consolidated Mines	Pair Corr
0.35	GBOOY	Grupo Financiero Banorte	Pair Corr
0.34	PALAF	Paladin Energy	Pair Corr
0.32	FNV	Franco Nevada	Pair Corr
0.42	EFSC	Enterprise Financial	Pair Corr
0.42	PNC	PNC Financial Services	Pair Corr
0.41	MEEEF	Metal Energy Corp	Pair Corr
0.41	FRPT	Freshpet	Pair Corr
0.39	JNJ	Johnson Johnson	Pair Corr
0.39	RHHVF	Roche Holding AG	Pair Corr

Related Correlations Analysis

	HBGRF	YMFCF	ADERY	SEIGY	DURYY	WJXFF	SSMFF	SEIGF	CHRRF	MCCK
HBGRF		0.0	0.8	-0.01	0.58	0.64	0.75	0.0	0.05	0.68	HBGRF
YMFCF	0.0		0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0	YMFCF
ADERY	0.8	0.0		0.04	0.62	0.71	0.86	0.0	0.28	0.71	ADERY
SEIGY	-0.01	0.0	0.04		0.15	0.4	0.05	0.0	0.51	0.4	SEIGY
DURYY	0.58	0.0	0.62	0.15		0.57	0.75	0.0	0.25	0.67	DURYY
WJXFF	0.64	0.0	0.71	0.4	0.57		0.59	0.0	0.51	0.84	WJXFF
SSMFF	0.75	0.0	0.86	0.05	0.75	0.59		0.0	0.29	0.75	SSMFF
SEIGF	0.0	-1.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEIGF
CHRRF	0.05	0.0	0.28	0.51	0.25	0.51	0.29	0.0		0.51	CHRRF
MCCK	0.68	0.0	0.71	0.4	0.67	0.84	0.75	0.0	0.51		MCCK
	HBGRF	YMFCF	ADERY	SEIGY	DURYY	WJXFF	SSMFF	SEIGF	CHRRF	MCCK

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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

SSMFF	+ 0.86	ADERY
MCCK	+ 0.84	WJXFF
ADERY	+ 0.8	HBGRF
SSMFF	+ 0.75	HBGRF
SSMFF	+ 0.75	DURYY
MCCK	+ 0.75	SSMFF

High negative correlations

SEIGF	- 1.0	YMFCF
SEIGY	- 0.01	HBGRF
MCCK	- 0.0	SEIGF
CHRRF	- 0.0	SEIGF
SEIGF	- 0.0	SSMFF
SEIGF	- 0.0	WJXFF

Risk-Adjusted Indicators

There is a big difference between Nel Pink Sheet performing well and Nel 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 Nel 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
HBGRF	0.73	0.06	0.00	0.02	0.00	0.00	0.00	0.00	18.92
YMFCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADERY	0.60	0.31	0.00	(3.68)	0.00	0.00	0.00	0.00	12.03
SEIGY	0.48	0.23	0.00	(0.59)	0.00	0.00	0.00	0.00	10.28
DURYY	1.21	0.17	0.00	0.24	0.00	0.00	0.00	0.00	43.73
WJXFF	0.80	0.27	0.06	(6.57)	0.71	(1.91)	2.88	(1.35)	6.86
SSMFF	0.09	0.04	0.00	(0.74)	0.00	0.00	0.00	0.00	3.00
SEIGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHRRF	0.83	0.22	0.06	(0.94)	0.83	(1.73)	2.79	(1.26)	8.32
MCCK	1.43	0.55	0.13	11.29	0.97	(3.17)	6.12	(2.88)	14.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nel 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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Nel ASA Corporate Management

Jorn Rosenlund	Manager of Nel Hydrogen Fueling	Profile
Esa Laukkanen	Chief Officer	Profile
Filip Smeets	Chief Electrolyser	Profile
Hans Hide	Chief Electrolyser	Profile
Stein Erdal	Sr Counsel	Profile
Robert Borin	VP Division	Profile
Hakon Volldal	Chief Officer	Profile

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