Romsdal Sparebank Correlations
| ROMSB Stock | NOK 123.98 0.02 0.02% |
The current 90-days correlation between Romsdal Sparebank and Nordic Mining ASA is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Romsdal Sparebank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Romsdal Sparebank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Romsdal Sparebank Correlation With Market
Significant diversification
The correlation between Romsdal Sparebank 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 Romsdal Sparebank and DJI in the same portfolio, assuming nothing else is changed.
Romsdal |
The ability to find closely correlated positions to Romsdal Sparebank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Romsdal Sparebank 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 Romsdal Sparebank - 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 Romsdal Sparebank to buy it.
Moving against Romsdal Stock
| 0.86 | BORR | Borr Drilling | PairCorr |
| 0.66 | NOHAL | Nordic Halibut AS | PairCorr |
| 0.64 | SOFF | Solstad Offsho | PairCorr |
| 0.58 | ZAP | Zaptec AS | PairCorr |
Related Correlations Analysis
| -0.29 | -0.12 | -0.05 | 0.06 | -0.33 | OTL | ||
| -0.29 | -0.08 | 0.21 | 0.84 | 0.89 | SPOG | ||
| -0.12 | -0.08 | -0.18 | -0.11 | -0.17 | NOM | ||
| -0.05 | 0.21 | -0.18 | 0.07 | 0.32 | NORDH | ||
| 0.06 | 0.84 | -0.11 | 0.07 | 0.69 | MING | ||
| -0.33 | 0.89 | -0.17 | 0.32 | 0.69 | MOBA | ||
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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 Romsdal Stock performing well and Romsdal Sparebank 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 Romsdal Sparebank'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| OTL | 1.76 | (0.18) | 0.00 | (0.50) | 0.00 | 3.01 | 11.24 | |||
| SPOG | 1.16 | 0.25 | 0.09 | (0.98) | 1.07 | 2.50 | 5.82 | |||
| NOM | 1.64 | 0.22 | 0.07 | 0.57 | 1.95 | 4.25 | 10.47 | |||
| NORDH | 3.23 | 0.28 | 0.02 | (0.20) | 3.85 | 8.00 | 25.22 | |||
| MING | 0.69 | 0.03 | (0.03) | 0.20 | 0.85 | 1.43 | 4.39 | |||
| MOBA | 1.18 | 0.33 | 0.15 | 3.63 | 1.09 | 3.30 | 9.06 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Romsdal Sparebank 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?
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Romsdal Sparebank Corporate Management
Elected by the shareholders, the Romsdal Sparebank's board of directors comprises two types of representatives: Romsdal Sparebank inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Romsdal. The board's role is to monitor Romsdal Sparebank's management team and ensure that shareholders' interests are well served. Romsdal Sparebank'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, Romsdal Sparebank's outside directors are responsible for providing unbiased perspectives on the board's policies.
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