NKT AS Correlations

NRKBF Stock

USD 125.72 0.00 0.00%

The current 90-days correlation between NKT AS and ATVRockN is -0.24 (i.e., Very good diversification). The correlation of NKT AS 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.

NKT AS Correlation With Market

Poor diversification

The correlation between NKT AS and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NKT AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NKT Pink Sheet

0.74	VRT	Vertiv Holdings Downward Rally	Pair Corr
0.87	ABLZF	ABB	Pair Corr
0.8	BE	Bloom Energy Corp	Pair Corr
0.82	LGRDY	Legrand SA ADR	Pair Corr
0.8	MIELY	Mitsubishi Electric Corp	Pair Corr
0.7	LGRVF	Legrand SA	Pair Corr
0.8	MIELF	Mitsubishi Electric	Pair Corr
0.83	NVT	nVent Electric PLC	Pair Corr
0.85	EC	Ecopetrol SA ADR Earnings Call Today	Pair Corr
0.87	NDGPY	Nine Dragons Paper	Pair Corr
0.78	DAC	Danaos	Pair Corr
0.78	SOMMY	Sumitomo Chemical	Pair Corr
0.79	AP	Ampco Pittsburgh	Pair Corr
0.88	ODC	Oil Dri	Pair Corr
0.65	STMZF	Scottish Mortgage	Pair Corr
0.61	FHI	Federated Investors	Pair Corr
0.93	SAPMF	Saipem SpA Earnings Call This Week	Pair Corr
0.69	PLD	Prologis	Pair Corr
0.66	ALLO	Allogene Therapeutics Earnings Call Tomorrow	Pair Corr
0.88	FMX	Fomento Economico	Pair Corr
0.72	BLD	Topbuild Corp	Pair Corr

Moving against NKT Pink Sheet

0.63	PBCRF	PT Bank Central	Pair Corr
0.56	PTAIF	PT Astra International	Pair Corr
0.69	MITI	Mitesco	Pair Corr

Related Correlations Analysis

	DWAY	ASTO	CAPC	CUBXF	GRDAF	EAATF	GOGR	EGTYF	ATVK
DWAY		0.05	-0.03	0.17	0.14	-0.19	0.04	-0.19	0.02	DWAY
ASTO	0.05		0.71	-0.57	-0.16	-0.04	-0.47	-0.11	-0.62	ASTO
CAPC	-0.03	0.71		-0.61	0.07	-0.32	-0.68	-0.44	-0.86	CAPC
CUBXF	0.17	-0.57	-0.61		0.15	0.03	0.51	0.18	0.49	CUBXF
GRDAF	0.14	-0.16	0.07	0.15		-0.74	-0.02	-0.36	-0.13	GRDAF
EAATF	-0.19	-0.04	-0.32	0.03	-0.74		0.14	0.55	0.38	EAATF
GOGR	0.04	-0.47	-0.68	0.51	-0.02	0.14		0.35	0.77	GOGR
EGTYF	-0.19	-0.11	-0.44	0.18	-0.36	0.55	0.35		0.44	EGTYF
ATVK	0.02	-0.62	-0.86	0.49	-0.13	0.38	0.77	0.44		ATVK
	DWAY	ASTO	CAPC	CUBXF	GRDAF	EAATF	GOGR	EGTYF	ATVK

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

ATVK	+ 0.77	GOGR
CAPC	+ 0.71	ASTO
EGTYF	+ 0.55	EAATF
GOGR	+ 0.51	CUBXF
ATVK	+ 0.49	CUBXF
ATVK	+ 0.44	EGTYF

High negative correlations

ATVK	- 0.86	CAPC
EAATF	- 0.74	GRDAF
GOGR	- 0.68	CAPC
ATVK	- 0.62	ASTO
CUBXF	- 0.61	CAPC
CUBXF	- 0.57	ASTO

Risk-Adjusted Indicators

There is a big difference between NKT Pink Sheet performing well and NKT AS 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 NKT AS'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
DWAY	10.41	1.63	0.08	74.37	10.27	(21.71)	30.61	(19.61)	71.27
ASTO	0.57	0.04	0.00	0.18	0.00	0.00	0.00	0.00	32.37
CAPC	10.37	1.47	0.13	0.44	10.53	(13.99)	26.32	(16.67)	66.67
CUBXF	12.61	1.77	0.04	1.89	16.49	(71.23)	59.88	(51.22)	211.01
GRDAF	6.99	1.03	0.08	(0.92)	8.29	(9.46)	22.55	(14.45)	66.13
EAATF	3.06	0.08	0.00	0.03	0.00	0.00	0.00	0.00	98.00
GOGR	16.50	2.09	0.04	(0.34)	17.57	(69.79)	100.00	(50.00)	150.00
EGTYF	6.31	0.27	0.03	0.21	8.01	(12.66)	20.27	(13.84)	94.55
ATVK	11.77	(0.06)	0.02	0.06	17.48	(14.81)	31.50	(31.44)	125.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in NKT AS 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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