Penneo AS Correlations
| PENNEO Stock | DKK 8.00 0.26 3.15% |
The current 90-days correlation between Penneo AS and Hydract AS is 0.09 (i.e., Significant diversification). The correlation of Penneo 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.
Penneo AS Correlation With Market
Significant diversification
The correlation between Penneo AS and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penneo AS and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Penneo 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 Penneo 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 Penneo 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 Penneo AS to buy it.
Related Correlations Analysis
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Penneo AS Corporate Management
Elected by the shareholders, the Penneo AS's board of directors comprises two types of representatives: Penneo AS inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Penneo. The board's role is to monitor Penneo AS's management team and ensure that shareholders' interests are well served. Penneo AS'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, Penneo AS's outside directors are responsible for providing unbiased perspectives on the board's policies.
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| Sara L | Head Culture | Profile | |
| Gautier Garin | Head Marketing | Profile | |
| Casper Christiansen | Chief Officer | Profile | |
| Mathias | Director Accounting | Profile | |
| Carsten | Financial Controller | Profile | |
| Andre Clement | CoFounder Officer | Profile |