Polight ASA Correlations
| PLT Stock | 5.93 0.33 5.27% |
The current 90-days correlation between Polight ASA and Norbit ASA is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Polight ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Polight ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Polight ASA Correlation With Market
Excellent diversification
The correlation between Polight ASA and DJI is -0.65 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polight ASA and DJI in the same portfolio, assuming nothing else is changed.
Polight |
The ability to find closely correlated positions to Polight 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 Polight 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 Polight 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 Polight ASA to buy it.
Moving against Polight Stock
| 0.68 | NHY | Norsk Hydro ASA | PairCorr |
| 0.66 | HERMA | Hermana Holding ASA | PairCorr |
| 0.61 | MORG | Sparebanken Mre | PairCorr |
| 0.6 | SEA1 | Sea1 Offshore | PairCorr |
| 0.56 | IWS | Integrated Wind Solutions | PairCorr |
| 0.54 | AKBM | Aker Biomarine AS | PairCorr |
| 0.53 | DNB | DnB ASA | PairCorr |
| 0.51 | KIT | Kitron ASA | PairCorr |
| 0.49 | STECH | Soiltech ASA | PairCorr |
| 0.49 | B2I | B2 Impact ASA | PairCorr |
| 0.46 | ORK | Orkla ASA | PairCorr |
| 0.43 | AKRBP | Aker BP ASA | PairCorr |
| 0.42 | KRAB | Kraft Bank Asa | PairCorr |
| 0.69 | ARR | Arribatec Solutions ASA | PairCorr |
| 0.67 | YAR | Yara International ASA | PairCorr |
| 0.6 | BWO | BW Offshore | PairCorr |
| 0.58 | BONHR | Bonheur | PairCorr |
| 0.57 | VOW | Vow ASA | PairCorr |
| 0.57 | SAGA | Saga Pure ASA | PairCorr |
| 0.56 | ACR | Axactor SE | PairCorr |
| 0.56 | ARCH | Archer Limited | PairCorr |
| 0.55 | SCATC | Scatec Solar OL | PairCorr |
| 0.55 | PROT | Protector Forsikring ASA | PairCorr |
| 0.54 | KOG | Kongsberg Gruppen ASA | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Polight Stock performing well and Polight 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 Polight 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NORBT | 2.04 | 0.27 | 0.10 | 0.48 | 2.47 | 4.27 | 13.60 | |||
| ATEA | 0.96 | (0.03) | 0.00 | 0.20 | 0.00 | 1.80 | 7.28 | |||
| PEXIP | 1.84 | 0.14 | 0.04 | (1.12) | 2.20 | 3.19 | 20.36 | |||
| NEXT | 3.89 | (0.60) | 0.00 | 0.92 | 0.00 | 7.38 | 84.41 | |||
| ENSU | 1.73 | (0.14) | 0.00 | (3.56) | 0.00 | 3.75 | 12.21 | |||
| BOUV | 1.14 | (0.30) | 0.00 | (23.73) | 0.00 | 2.14 | 12.95 | |||
| SMCRT | 1.88 | (0.43) | 0.00 | (1.85) | 0.00 | 4.35 | 11.25 | |||
| NAPA | 2.75 | 0.57 | 0.17 | (1.32) | 2.54 | 7.75 | 20.26 | |||
| SMOP | 2.35 | 0.51 | 0.21 | 1.57 | 1.95 | 6.69 | 13.27 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Polight 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.Did you try this?
Run Pair Correlation Now
Pair CorrelationCompare performance and examine fundamental relationship between any two equity instruments |
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Polight ASA Corporate Management
Elected by the shareholders, the Polight ASA's board of directors comprises two types of representatives: Polight ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Polight. The board's role is to monitor Polight ASA's management team and ensure that shareholders' interests are well served. Polight 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, Polight ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.
| yvind Isaksen | Chief Officer | Profile | |
| Marianne Sandal | Chief Officer | Profile | |
| Jon Ulvensen | VP Technology | Profile | |
| Pierre Craen | Chief Officer | Profile | |
| Alf Bekkevik | Chief Officer | Profile |