Norbit ASA Correlations

NORBT Stock

NOK 198.00 3.50 1.74%

The current 90-days correlation between Norbit ASA and Pexip Holding ASA is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Norbit ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Norbit ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Norbit ASA Correlation With Market

Poor diversification

The correlation between Norbit ASA and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norbit ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Norbit Stock

0.7	ELIMP	Elektroimportoren	Pair Corr
0.72	NONG	Sparebank 1 Nord	Pair Corr
0.73	WWI	Wilh Wilhelmsen Holding	Pair Corr
0.7	HDLY	Huddly AS	Pair Corr
0.74	CADLR	Cadeler As	Pair Corr
0.78	BONHR	Bonheur Earnings Call This Week	Pair Corr
0.66	SATS	Sats ASA	Pair Corr
0.71	NSKOG	Norske Skog Asa	Pair Corr
0.73	AKBM	Aker Biomarine AS	Pair Corr
0.7	ABL	ABL Group ASA Earnings Call This Week	Pair Corr
0.61	SCATC	Scatec Solar OL	Pair Corr
0.66	AFK	Arendals Fossekompani ASA	Pair Corr
0.67	DOFG	DOF Group ASA	Pair Corr
0.73	HSHP	Himalaya Shipping	Pair Corr
0.68	HEX	Hexagon Composites ASA	Pair Corr
0.81	BWO	BW Offshore Earnings Call This Week	Pair Corr
0.79	SPOG	Sparebanken Ost	Pair Corr
0.8	NORAM	NorAm Drilling AS	Pair Corr
0.72	WWIB	Wilh Wilhelmsen Holding	Pair Corr
0.79	VEI	Veidekke ASA	Pair Corr
0.74	KRAB	Kraft Bank Asa	Pair Corr

Moving against Norbit Stock

0.58	ENSU	Ensurge Micropower ASA	Pair Corr
0.5	NEXT	Next Biometrics Group	Pair Corr
0.38	HAVI	Havila Shipping ASA	Pair Corr
0.42	ZENA	Zenith Energy	Pair Corr

Related Correlations Analysis

	KIT	ATEA	PEXIP	BOUV	PLT	NEXT	ENSU	SMCRT	NAPA	SMOP
KIT		-0.15	0.34	-0.77	-0.6	-0.56	-0.66	-0.58	0.53	0.68	KIT
ATEA	-0.15		0.72	0.66	-0.27	-0.03	-0.14	0.82	0.28	0.22	ATEA
PEXIP	0.34	0.72		0.25	-0.75	-0.41	-0.45	0.34	0.64	0.51	PEXIP
BOUV	-0.77	0.66	0.25		0.17	0.31	0.38	0.84	-0.18	-0.35	BOUV
PLT	-0.6	-0.27	-0.75	0.17		0.67	0.59	0.16	-0.7	-0.57	PLT
NEXT	-0.56	-0.03	-0.41	0.31	0.67		0.58	0.32	-0.66	-0.49	NEXT
ENSU	-0.66	-0.14	-0.45	0.38	0.59	0.58		0.21	-0.52	-0.62	ENSU
SMCRT	-0.58	0.82	0.34	0.84	0.16	0.32	0.21		-0.14	-0.09	SMCRT
NAPA	0.53	0.28	0.64	-0.18	-0.7	-0.66	-0.52	-0.14		0.55	NAPA
SMOP	0.68	0.22	0.51	-0.35	-0.57	-0.49	-0.62	-0.09	0.55		SMOP
	KIT	ATEA	PEXIP	BOUV	PLT	NEXT	ENSU	SMCRT	NAPA	SMOP

Please upgrade your account to get full access to Macroaxis premium features

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

SMCRT	+ 0.84	BOUV
SMCRT	+ 0.82	ATEA
PEXIP	+ 0.72	ATEA
SMOP	+ 0.68	KIT
NEXT	+ 0.67	PLT
BOUV	+ 0.66	ATEA

High negative correlations

BOUV	- 0.77	KIT
PLT	- 0.75	PEXIP
NAPA	- 0.7	PLT
NAPA	- 0.66	NEXT
ENSU	- 0.66	KIT
SMOP	- 0.62	ENSU

Risk-Adjusted Indicators

There is a big difference between Norbit Stock performing well and Norbit 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 Norbit 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
KIT	1.83	0.70	0.30	(3.47)	1.56	(2.19)	4.87	(2.53)	8.14
ATEA	0.94	(0.03)	0.00	(0.66)	0.00	0.00	1.75	(2.29)	7.28
PEXIP	1.87	0.15	0.04	2.98	2.13	(1.98)	3.19	(3.41)	20.36
BOUV	1.17	(0.16)	0.00	(3.54)	0.00	0.00	2.14	(2.49)	12.95
PLT	2.22	(0.26)	0.00	(2.61)	0.00	0.00	4.67	(4.00)	20.25
NEXT	4.33	(1.28)	0.00	(1.30)	0.00	0.00	7.38	(8.66)	84.41
ENSU	1.83	(0.26)	0.00	(0.62)	0.00	0.00	3.75	(4.55)	12.21
SMCRT	1.83	(0.28)	0.00	(6.21)	0.00	0.00	4.00	(3.82)	9.63
NAPA	2.41	0.28	0.08	2.22	2.62	(2.78)	5.86	(4.79)	14.03
SMOP	2.40	0.40	0.15	23.27	2.08	(3.14)	5.21	(3.88)	12.47

Be your own money manager

Our tools can tell you how much better you can do entering a position in Norbit 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.

Did you try this?

Run Instant Ratings Now

Instant Ratings

Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance

All Next

Launch Module

Norbit ASA Corporate Management

Elected by the shareholders, the Norbit ASA's board of directors comprises two types of representatives: Norbit ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Norbit. The board's role is to monitor Norbit ASA's management team and ensure that shareholders' interests are well served. Norbit ASA'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, Norbit ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Per Reppe	Group Officer	Profile
Arild Soraunet	Group Officer	Profile
Steffen Kirknes	Founder Mang	Profile
Per Weisethaunet	Group Officer	Profile
Peter Eriksen	B Oceans	Profile
Stein Beyer	Group PIR	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC