Nokia Correlations

NOKBF Stock

USD 8.05 0.21 2.54%

The current 90-days correlation between Nokia and Telefonaktiebolaget LM Ericsson is 0.11 (i.e., Average diversification). The correlation of Nokia 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.

Nokia Correlation With Market

Very weak diversification

The correlation between Nokia and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nokia and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nokia Pink Sheet

0.78	ERIC-B	Telefonaktiebolaget	Pair Corr
0.94	LITE	Lumentum Holdings	Pair Corr
0.93	CIEN	Ciena Corp Earnings Call Tomorrow	Pair Corr
0.87	UI	Ubiquiti Networks	Pair Corr
0.99	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.81	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.62	PPERY	Bank Mandiri Persero	Pair Corr
0.62	EC	Ecopetrol SA ADR Earnings Call Today	Pair Corr
0.77	VIR	Vir Biotechnology	Pair Corr
0.76	WDC	Western Digital	Pair Corr
0.69	RDNW	RideNow Group Symbol Change	Pair Corr
0.89	Q	Qnity Electronics	Pair Corr
0.73	STBGY	Scandinavian Tobacco	Pair Corr
0.85	TSM	Taiwan Semiconductor	Pair Corr
0.89	ASX	ASE Industrial Holding	Pair Corr
0.8	AIQUF	LAir Liquide SA	Pair Corr
0.86	MOG-A	Moog Inc	Pair Corr
0.67	ALEEF	Alerio Gold Corp	Pair Corr
0.66	BHFAP	Brighthouse Financial	Pair Corr
0.76	CMTV	Community Bancorp Common	Pair Corr
0.88	DOV	Dover	Pair Corr
0.87	DAR	Darling Ingredients	Pair Corr
0.78	FLFG	Federal Life Group	Pair Corr

Moving against Nokia Pink Sheet

0.56	PTAIF	PT Astra International	Pair Corr
0.36	HPE	Hewlett Packard Ente Earnings Call This Week	Pair Corr
0.31	TLK	Telkom Indonesia Tbk	Pair Corr
0.78	PBCRF	PT Bank Central	Pair Corr
0.33	COOK	Traeger Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	ERIXF	MRAAF	DISPF	ZTCOF	DASTY	DSCSY	MRAAY	DASTF	HXGBY	TTDKY
ERIXF		0.47	0.83	-0.57	-0.75	0.83	0.54	-0.69	-0.78	0.12	ERIXF
MRAAF	0.47		0.55	-0.24	-0.66	0.56	0.9	-0.72	-0.31	0.28	MRAAF
DISPF	0.83	0.55		-0.59	-0.67	0.99	0.58	-0.6	-0.75	-0.15	DISPF
ZTCOF	-0.57	-0.24	-0.59		0.35	-0.59	-0.25	0.3	0.43	0.02	ZTCOF
DASTY	-0.75	-0.66	-0.67	0.35		-0.68	-0.78	0.95	0.69	-0.38	DASTY
DSCSY	0.83	0.56	0.99	-0.59	-0.68		0.6	-0.61	-0.75	-0.16	DSCSY
MRAAY	0.54	0.9	0.58	-0.25	-0.78	0.6		-0.82	-0.41	0.38	MRAAY
DASTF	-0.69	-0.72	-0.6	0.3	0.95	-0.61	-0.82		0.61	-0.41	DASTF
HXGBY	-0.78	-0.31	-0.75	0.43	0.69	-0.75	-0.41	0.61		-0.04	HXGBY
TTDKY	0.12	0.28	-0.15	0.02	-0.38	-0.16	0.38	-0.41	-0.04		TTDKY
	ERIXF	MRAAF	DISPF	ZTCOF	DASTY	DSCSY	MRAAY	DASTF	HXGBY	TTDKY

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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

DSCSY	+ 0.99	DISPF
DASTF	+ 0.95	DASTY
MRAAY	+ 0.9	MRAAF
DISPF	+ 0.83	ERIXF
DSCSY	+ 0.83	ERIXF
HXGBY	+ 0.69	DASTY

High negative correlations

DASTF	- 0.82	MRAAY
MRAAY	- 0.78	DASTY
HXGBY	- 0.78	ERIXF
HXGBY	- 0.75	DSCSY
HXGBY	- 0.75	DISPF
DASTY	- 0.75	ERIXF

Risk-Adjusted Indicators

There is a big difference between Nokia Pink Sheet performing well and Nokia 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 Nokia'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
ERIXF	1.39	0.32	0.14	0.41	1.10	(3.62)	4.63	(2.21)	18.38
MRAAF	4.19	0.21	0.04	0.29	5.62	(4.32)	9.66	(8.87)	27.26
DISPF	2.92	0.74	0.20	0.31	2.09	(6.19)	10.81	(4.58)	23.06
ZTCOF	1.48	0.21	0.00	(0.49)	0.00	0.00	5.48	0.00	41.05
DASTY	1.56	(0.36)	0.00	(0.80)	0.00	0.00	2.28	(3.14)	23.71
DSCSY	2.86	0.73	0.22	0.30	2.91	(3.07)	6.71	(4.73)	19.03
MRAAY	1.90	0.23	0.09	0.25	2.32	(2.18)	4.09	(4.30)	16.07
DASTF	1.87	(0.33)	0.00	(0.28)	0.00	0.00	3.69	(5.10)	27.04
HXGBY	1.16	(0.16)	0.00	(0.21)	0.00	0.00	2.19	(2.28)	8.36
TTDKY	2.14	(0.31)	0.00	(0.13)	0.00	0.00	4.41	(5.14)	14.52

Be your own money manager

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

Nishant Batra	Chief Officer	Profile
Pekka Lundmark	Pres CEO	Profile
LLB JD	Ex Officer	Profile
Amy HanlonRodemich	Chief Officer	Profile
Stephan Prosi	VP Accounting	Profile
Esa Niinimaki	Corp Officer	Profile
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