Orkla ASA Correlations

OKL Stock

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The current 90-days correlation between Orkla ASA and Japan Post Insurance is -0.03 (i.e., Good diversification). The correlation of Orkla ASA 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.

Orkla ASA Correlation With Market

Poor diversification

The correlation between Orkla ASA and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orkla ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Orkla Stock

0.73	HHX	HAMMONIA Schiffsholding	Pair Corr
0.69	OS3	Otello ASA	Pair Corr
0.86	TF7A	Tyson Foods Earnings Call Today	Pair Corr
0.76	5WS	WATCHOSWITZGRLS 0125	Pair Corr
0.72	BLD	British Land	Pair Corr
0.76	SCL	Schlumberger Limited	Pair Corr
0.86	D7Q1	Monument Mining	Pair Corr
0.8	FM7	Meta Financial Group	Pair Corr
0.63	ADM	Archer Daniels Midland Earnings Call Tomorrow	Pair Corr
0.73	4DS	Daldrup Shne Aktieng	Pair Corr

Moving against Orkla Stock

0.64	DBPD	Xtrackers ShortDAX	Pair Corr
0.6	D7GA	NEL ASA ADR30	Pair Corr

Related Correlations Analysis

	CUW	PZX	4JP	U0K	WSV2	NRM	59M0	06S
CUW		0.38	0.51	0.49	0.52	0.16	-0.38	-0.4	CUW
PZX	0.38		0.89	0.35	0.94	0.7	0.18	-0.87	PZX
4JP	0.51	0.89		0.32	0.9	0.55	0.08	-0.8	4JP
U0K	0.49	0.35	0.32		0.4	0.01	-0.18	-0.45	U0K
WSV2	0.52	0.94	0.9	0.4		0.64	-0.02	-0.89	WSV2
NRM	0.16	0.7	0.55	0.01	0.64		0.2	-0.44	NRM
59M0	-0.38	0.18	0.08	-0.18	-0.02	0.2		0.01	59M0
06S	-0.4	-0.87	-0.8	-0.45	-0.89	-0.44	0.01		06S
	CUW	PZX	4JP	U0K	WSV2	NRM	59M0	06S

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

WSV2	+ 0.94	PZX
WSV2	+ 0.9	4JP
4JP	+ 0.89	PZX
NRM	+ 0.7	PZX
NRM	+ 0.64	WSV2
NRM	+ 0.55	4JP

High negative correlations

06S	- 0.89	WSV2
06S	- 0.87	PZX
06S	- 0.8	4JP
06S	- 0.45	U0K
06S	- 0.44	NRM
06S	- 0.4	CUW

Risk-Adjusted Indicators

There is a big difference between Orkla Stock performing well and Orkla 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 Orkla 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
CUW	1.69	(0.04)	0.00	(0.15)	0.00	0.00	3.85	(3.31)	11.58
PZX	1.25	0.37	0.21	(6.06)	1.02	(1.46)	3.30	(2.27)	8.65
4JP	1.31	0.22	0.10	(1.42)	1.36	(1.58)	3.08	(2.56)	6.51
U0K	0.98	0.00	(0.02)	0.05	1.15	(1.26)	1.96	(1.94)	5.45
WSV2	1.57	0.60	0.40	2.36	0.81	(2.18)	6.44	(2.21)	11.82
NRM	0.67	0.01	(0.01)	0.10	0.85	(1.13)	2.26	(1.84)	5.96
59M0	1.34	0.25	0.10	(1.76)	1.41	(1.74)	3.03	(2.73)	7.06
06S	3.20	(0.95)	0.00	7.97	0.00	0.00	5.36	(5.88)	27.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Orkla 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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Orkla ASA Corporate Management

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

Annie Bersagel	Senior Relations	Profile
Christer Gronberg	Head Functions	Profile
Hkon Mageli	Corp Director	Profile
Frode Kronstad	Senior Accounting	Profile
Sverre Prytz	Exec Board	Profile
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Johan Clarin	CEO VP	Profile

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