Nordea Bank Correlations

NRDBY Stock

USD 11.23 0.13 1.17%

The current 90-days correlation between Nordea Bank Abp and United Overseas Bank is 0.22 (i.e., Modest diversification). The correlation of Nordea Bank 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.

Nordea Bank Correlation With Market

Very good diversification

The correlation between Nordea Bank Abp and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordea Bank Abp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nordea Pink Sheet

0.67	BNPQY	BNP Paribas SA	Pair Corr
0.61	BNPQF	BNP Paribas SA	Pair Corr

Moving against Nordea Pink Sheet

0.55	RCAT	Red Cat Holdings Trending	Pair Corr
0.44	DECK	Deckers Outdoor	Pair Corr
0.37	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.36	BRK-B	Berkshire Hathaway	Pair Corr

Related Correlations Analysis

	UOVEY	KBCSY	PPERY	PCLB	OVCHY	SWDBY	DBSDY	ISDAY	UNTN	BAOB
UOVEY		-0.08	-0.56	0.27	0.9	-0.4	0.88	0.34	0.26	0.61	UOVEY
KBCSY	-0.08		0.47	0.37	-0.01	0.57	-0.24	-0.64	-0.09	-0.47	KBCSY
PPERY	-0.56	0.47		0.09	-0.35	0.67	-0.64	-0.69	-0.16	-0.79	PPERY
PCLB	0.27	0.37	0.09		0.33	0.26	0.27	-0.13	0.15	-0.07	PCLB
OVCHY	0.9	-0.01	-0.35	0.33		-0.32	0.83	0.27	0.35	0.44	OVCHY
SWDBY	-0.4	0.57	0.67	0.26	-0.32		-0.59	-0.88	-0.59	-0.51	SWDBY
DBSDY	0.88	-0.24	-0.64	0.27	0.83	-0.59		0.61	0.46	0.64	DBSDY
ISDAY	0.34	-0.64	-0.69	-0.13	0.27	-0.88	0.61		0.61	0.59	ISDAY
UNTN	0.26	-0.09	-0.16	0.15	0.35	-0.59	0.46	0.61		0.09	UNTN
BAOB	0.61	-0.47	-0.79	-0.07	0.44	-0.51	0.64	0.59	0.09		BAOB
	UOVEY	KBCSY	PPERY	PCLB	OVCHY	SWDBY	DBSDY	ISDAY	UNTN	BAOB

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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

OVCHY	+ 0.9	UOVEY
DBSDY	+ 0.88	UOVEY
DBSDY	+ 0.83	OVCHY
SWDBY	+ 0.67	PPERY
BAOB	+ 0.64	DBSDY
BAOB	+ 0.61	UOVEY

High negative correlations

ISDAY	- 0.88	SWDBY
BAOB	- 0.79	PPERY
ISDAY	- 0.69	PPERY
DBSDY	- 0.64	PPERY
ISDAY	- 0.64	KBCSY
UNTN	- 0.59	SWDBY

Risk-Adjusted Indicators

There is a big difference between Nordea Pink Sheet performing well and Nordea Bank 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 Nordea Bank'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
UOVEY	0.81	0.21	0.09	(6.28)	0.70	(0.94)	2.14	(1.40)	8.73
KBCSY	1.02	(0.05)	0.00	0.50	0.00	0.00	2.22	(2.02)	5.93
PPERY	1.35	(0.32)	0.00	(0.78)	0.00	0.00	2.71	(2.83)	9.06
PCLB	1.00	(0.24)	0.00	(1.23)	0.00	0.00	1.64	(3.32)	9.01
OVCHY	1.40	0.21	0.04	(3.02)	1.60	(1.41)	3.40	(3.02)	9.12
SWDBY	1.15	(0.07)	0.00	0.40	0.00	0.00	2.23	(2.45)	7.44
DBSDY	0.82	0.23	0.12	62.51	0.60	(0.95)	1.48	(1.34)	8.98
ISDAY	0.38	0.15	0.00	0.92	0.00	0.00	0.00	0.00	10.56
UNTN	0.54	0.10	0.00	0.82	0.73	(2.09)	2.61	(0.99)	8.60
BAOB	1.08	0.10	0.00	0.77	1.30	(1.61)	2.74	(2.90)	6.88

Be your own money manager

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

Frank VangJensen	Pres CEO	Profile
Jouko Helomaa	Principal	Profile
Paul Bari	Group Technology	Profile
Sara HelwegLarsen	Head Communications	Profile
MScPol B	Communications Brand	Profile
Ian Smith	Group Fin	Profile
Matti Ahokas	Head Relations	Profile

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