Norsk Hydro Correlations
| NOH1 Stock | EUR 6.18 0.01 0.16% |
The current 90-days correlation between Norsk Hydro ASA and United Airlines Holdings is 0.06 (i.e., Significant diversification). The correlation of Norsk Hydro 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.
Norsk Hydro Correlation With Market
Good diversification
The correlation between Norsk Hydro 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 Norsk Hydro ASA and DJI in the same portfolio, assuming nothing else is changed.
Norsk |
The ability to find closely correlated positions to Norsk Hydro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Norsk Hydro 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 Norsk Hydro - 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 Norsk Hydro ASA to buy it.
Moving together with Norsk Stock
| 0.97 | NOHA | Norsk Hydro ASA | PairCorr |
| 0.8 | AOC | Aluminumof China | PairCorr |
| 0.91 | 185 | Alcoa Corp | PairCorr |
| 0.74 | EY3 | Century Aluminum | PairCorr |
| 0.82 | UN3 | United Natural Foods | PairCorr |
| 0.86 | EK7 | AGRICUL BK CHINA | PairCorr |
| 0.81 | DBPE | Xtrackers LevDAX | PairCorr |
| 0.61 | E908 | Lyxor 1 | PairCorr |
Moving against Norsk Stock
| 0.82 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.73 | SSU | Samsung Electronics | PairCorr |
| 0.72 | SSU | Samsung Electronics | PairCorr |
| 0.71 | SSUN | Samsung Electronics | PairCorr |
| 0.68 | SSUN | Samsung Electronics | PairCorr |
| 0.4 | ASJA | ASTRA INTERNATIONAL | PairCorr |
| 0.35 | TCID | Telkom Indonesia Tbk | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Norsk Stock performing well and Norsk Hydro 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 Norsk Hydro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DFA1 | 1.64 | 0.61 | 0.36 | (1.39) | 0.73 | 4.43 | 12.91 | |||
| 4D7 | 0.96 | (0.03) | 0.00 | 0.81 | 0.00 | 1.85 | 5.51 | |||
| 32A | 1.01 | (0.27) | 0.00 | 1.44 | 0.00 | 1.63 | 7.25 | |||
| UAL1 | 2.18 | 1.32 | 0.83 | 4.46 | 0.55 | 7.12 | 14.35 | |||
| EK7A | 1.79 | 0.31 | 0.07 | (1.16) | 1.93 | 4.76 | 11.57 | |||
| SWN | 1.44 | 0.29 | 0.16 | 0.44 | 1.46 | 3.82 | 9.44 | |||
| DFA1 | 2.59 | 0.64 | 0.13 | 20.37 | 2.97 | 6.56 | 25.44 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Norsk Hydro 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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Analyst AdviceAnalyst recommendations and target price estimates broken down by several categories |
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Norsk Hydro Corporate Management
Elected by the shareholders, the Norsk Hydro's board of directors comprises two types of representatives: Norsk Hydro inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Norsk. The board's role is to monitor Norsk Hydro's management team and ensure that shareholders' interests are well served. Norsk Hydro'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, Norsk Hydro's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Hilde Nordh | Exec Board | Profile | |
| Arvid Moss | Exec Board | Profile | |
| Trond Christophersen | Member Devel | Profile | |
| Hilde Aasheim | CEO Pres | Profile | |
| Paul Warton | Exec Board | Profile | |
| Therese Holm | Exec Board | Profile | |
| AnneLene Midseim | IP Compliance | Profile |