Norstra Energy Correlations
The correlation of Norstra Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Norstra Energy Correlation With Market
Pay attention - limited upside
The correlation between Norstra Energy and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norstra Energy and DJI in the same portfolio, assuming nothing else is changed.
Moving against Norstra Stock
| 0.94 | BLAGF | Blue Lagoon Resources | PairCorr |
| 0.85 | PDO | Pimco Dynamic Income | PairCorr |
| 0.85 | OXLCO | Oxford Lane Capital | PairCorr |
| 0.83 | YLLXF | Yellow Cake plc Downward Rally | PairCorr |
| 0.81 | MNST | Monster Beverage Corp | PairCorr |
| 0.8 | SMFG | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.77 | EHGRF | The Star Entertainment | PairCorr |
| 0.77 | 06747PXX2 | US06747PXX22 | PairCorr |
| 0.71 | ABLZF | ABB | PairCorr |
| 0.67 | MIDD | Middleby Corp | PairCorr |
| 0.62 | ABAT | American Battery Tec | PairCorr |
| 0.61 | HIRU | Hiru | PairCorr |
| 0.6 | TORO | Toro | PairCorr |
| 0.51 | AEVA | Aeva Technologies Common Tech Boost | PairCorr |
| 0.48 | AM | Antero Midstream Partners Earnings Call This Week | PairCorr |
| 0.41 | FOSL | Fossil Group | PairCorr |
| 0.39 | DXYZ | Destiny Tech100 | PairCorr |
| 0.92 | TRIN | Trinity Capital | PairCorr |
| 0.91 | ZNOG | Zion Oil Gas | PairCorr |
| 0.9 | TATT | Tat Techno | PairCorr |
| 0.89 | URG | Ur Energy | PairCorr |
| 0.88 | LNCLF | Lincoln Gold Mining | PairCorr |
| 0.83 | IRDM | Iridium Communications | PairCorr |
| 0.83 | SVM | Silvercorp Metals | PairCorr |
| 0.82 | FCPT | Four Corners Property Sell-off Trend | PairCorr |
| 0.81 | LUNR | Intuitive Machines | PairCorr |
| 0.81 | BMO | Bank of Montreal | PairCorr |
Related Correlations Analysis
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 Norstra Stock performing well and Norstra Energy 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 Norstra Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PGNE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HDYNQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NSLPQ | 1.49 | (0.76) | 0.00 | 4.40 | 0.00 | 0.00 | 50.00 | |||
| POLR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ECCE | 2.98 | 1.57 | 0.00 | (1.43) | 0.00 | 0.00 | 100.00 | |||
| BFDE | 1.51 | 0.21 | 0.00 | 0.52 | 0.00 | 0.00 | 83.33 | |||
| SGER | 0.99 | 0.52 | 0.00 | (1.08) | 0.00 | 0.00 | 33.33 | |||
| HYBE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SING | 164.15 | 85.34 | 1.25 | 3.99 | 41.56 | 400.00 | 3,349 | |||
| WCYN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |