Norbit ASA Correlations

NORBT Stock

NOK 95.20 0.40 0.42%

The current 90-days correlation between Norbit ASA and SD Standard Drilling is -0.06 (i.e., Good 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

Good diversification

The correlation between Norbit ASA and DJI is -0.16 (i.e., Good 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

0.65	VAR	Var Energi ASA	Pair Corr
0.84	DNB	DnB ASA	Pair Corr

Moving against Norbit Stock

0.72	NEXT	Next Biometrics Group	Pair Corr
0.51	NEL	Nel ASA	Pair Corr
0.45	NTG	Nordic Technology	Pair Corr
0.32	ZENA	Zenith Energy	Pair Corr

Related Correlations Analysis

	BIEN	SDSD	5PG	SOGN	AASB	SUNSB	GSF	CSS
BIEN		0.92	-0.58	0.55	0.84	0.78	0.68	-0.91	BIEN
SDSD	0.92		-0.66	0.42	0.76	0.8	0.73	-0.9	SDSD
5PG	-0.58	-0.66		-0.21	-0.41	-0.59	-0.56	0.63	5PG
SOGN	0.55	0.42	-0.21		0.6	0.54	0.35	-0.52	SOGN
AASB	0.84	0.76	-0.41	0.6		0.73	0.42	-0.75	AASB
SUNSB	0.78	0.8	-0.59	0.54	0.73		0.74	-0.82	SUNSB
GSF	0.68	0.73	-0.56	0.35	0.42	0.74		-0.76	GSF
CSS	-0.91	-0.9	0.63	-0.52	-0.75	-0.82	-0.76		CSS
	BIEN	SDSD	5PG	SOGN	AASB	SUNSB	GSF	CSS

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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

SDSD	+ 0.92	BIEN
AASB	+ 0.84	BIEN
SUNSB	+ 0.8	SDSD
SUNSB	+ 0.78	BIEN
AASB	+ 0.76	SDSD
GSF	+ 0.74	SUNSB

High negative correlations

CSS	- 0.91	BIEN
CSS	- 0.9	SDSD
CSS	- 0.82	SUNSB
CSS	- 0.76	GSF
CSS	- 0.75	AASB
5PG	- 0.66	SDSD

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
BIEN	1.12	0.38	0.15	2.16	0.70	(2.03)	2.86	(1.98)	12.32
SDSD	0.75	0.06	(0.06)	(0.51)	0.80	(1.04)	1.25	(1.80)	4.20
5PG	3.02	0.07	(0.02)	(0.10)	3.43	(3.73)	6.50	(5.00)	25.26
SOGN	1.61	0.42	0.16	(24.54)	1.24	(2.16)	4.26	(2.65)	13.57
AASB	0.60	0.10	(0.01)	21.44	0.69	(1.08)	2.23	(1.68)	6.74
SUNSB	0.54	0.09	(0.03)	(0.33)	0.71	(1.07)	1.34	(1.51)	8.32
GSF	2.02	0.47	0.09	(0.34)	2.43	(2.31)	4.83	(3.05)	21.66
CSS	1.90	(1.04)	0.00	(15.16)	0.00	0.00	0.00	(11.76)	20.00

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.

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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

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