Ocean Sun Correlations

OSUN Stock

NOK 1.89 0.02 1.05%

The current 90-days correlation between Ocean Sun As and North Energy ASA is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ocean Sun moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ocean Sun As moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ocean Sun Correlation With Market

Significant diversification

The correlation between Ocean Sun As and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Sun As and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	HPUR	ZAP	NEL	ELK	VOW	NORTH	ACR	AZT	EQVA
HPUR		0.58	0.86	0.23	0.58	-0.91	0.83	0.82	0.64	HPUR
ZAP	0.58		0.72	0.14	0.7	-0.51	0.62	0.73	0.44	ZAP
NEL	0.86	0.72		-0.04	0.61	-0.85	0.8	0.9	0.71	NEL
ELK	0.23	0.14	-0.04		0.46	-0.16	0.33	0.15	-0.3	ELK
VOW	0.58	0.7	0.61	0.46		-0.54	0.71	0.7	0.28	VOW
NORTH	-0.91	-0.51	-0.85	-0.16	-0.54		-0.78	-0.79	-0.65	NORTH
ACR	0.83	0.62	0.8	0.33	0.71	-0.78		0.86	0.5	ACR
AZT	0.82	0.73	0.9	0.15	0.7	-0.79	0.86		0.48	AZT
EQVA	0.64	0.44	0.71	-0.3	0.28	-0.65	0.5	0.48		EQVA
	HPUR	ZAP	NEL	ELK	VOW	NORTH	ACR	AZT	EQVA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

AZT	+ 0.9	NEL
NEL	+ 0.86	HPUR
AZT	+ 0.86	ACR
ACR	+ 0.83	HPUR
AZT	+ 0.82	HPUR
ACR	+ 0.8	NEL

High negative correlations

NORTH	- 0.91	HPUR
NORTH	- 0.85	NEL
AZT	- 0.79	NORTH
ACR	- 0.78	NORTH
EQVA	- 0.65	NORTH
NORTH	- 0.54	VOW

Risk-Adjusted Indicators

There is a big difference between Ocean Stock performing well and Ocean Sun 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 Ocean Sun'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
HPUR	3.45	(0.91)	0.00	(0.95)	0.00	0.00	5.54	(7.82)	34.08
ZAP	2.57	(0.62)	0.00	(0.65)	0.00	0.00	3.44	(5.33)	28.05
NEL	3.05	(0.65)	0.00	0.70	0.00	0.00	5.60	(7.24)	18.69
ELK	1.64	(0.19)	0.00	(0.28)	0.00	0.00	3.38	(3.71)	12.04
VOW	5.18	(1.31)	0.00	(0.87)	0.00	0.00	7.78	(11.39)	66.61
NORTH	1.21	0.12	(0.01)	(1.26)	1.52	(1.49)	2.88	(3.57)	7.51
ACR	1.59	(0.40)	0.00	(3.04)	0.00	0.00	3.13	(4.57)	11.51
AZT	1.94	(0.46)	0.00	0.79	0.00	0.00	4.29	(4.71)	25.36
EQVA	2.88	(0.41)	0.00	(0.14)	0.00	0.00	5.58	(4.71)	26.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ocean Sun 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.

Did you try this?

Run Alpha Finder Now

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk

All Next

Launch Module

Ocean Sun Corporate Management

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

Karl Lawenius	Chief Officer	Profile
Borge Bjorneklett	Founder CEO	Profile
Ivar Blekastad	Chief Officer	Profile
Arnt Ingulstad	Advisor	Profile
Roar Jakobsen	Interim Officer	Profile
Alexander Telje	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC