Scana ASA Correlations
| SCANA Stock | NOK 1.51 0.01 0.67% |
The current 90-days correlation between Scana ASA and Jinhui Shipping and is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Scana ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Scana ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Scana ASA Correlation With Market
Modest diversification
The correlation between Scana ASA and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scana ASA and DJI in the same portfolio, assuming nothing else is changed.
Scana |
The ability to find closely correlated positions to Scana 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 Scana 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 Scana 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 Scana ASA to buy it.
Moving together with Scana Stock
| 0.66 | EQNR | Equinor ASA | PairCorr |
| 0.73 | TEL | Telenor ASA | PairCorr |
| 0.74 | DNB | DnB ASA | PairCorr |
| 0.76 | ORK | Orkla ASA | PairCorr |
| 0.7 | TGS | TGS NOPEC Geophysical | PairCorr |
| 0.68 | MING | Sparebank 1 SMN | PairCorr |
| 0.68 | FRO | Frontline | PairCorr |
| 0.79 | KRAB | Kraft Bank Asa | PairCorr |
| 0.64 | ARCH | Archer Limited | PairCorr |
| 0.61 | SB1NO | SpareBank 1 Sr | PairCorr |
| 0.62 | CMBTO | CmbTech NV | PairCorr |
| 0.62 | SEA1 | Sea1 Offshore | PairCorr |
| 0.65 | MPCC | MPC Container Ships | PairCorr |
| 0.63 | WWI | Wilh Wilhelmsen Holding | PairCorr |
| 0.74 | ZAP | Zaptec AS | PairCorr |
| 0.61 | IWS | Integrated Wind Solutions | PairCorr |
| 0.67 | EIOF | Eidesvik Offshore ASA | PairCorr |
Moving against Scana Stock
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
|
Risk-Adjusted Indicators
There is a big difference between Scana Stock performing well and Scana 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 Scana 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JIN | 1.14 | (0.18) | 0.00 | (1.88) | 0.00 | 2.43 | 5.91 | |||
| VOW | 3.50 | 0.91 | 0.20 | (2.64) | 3.58 | 9.62 | 41.64 | |||
| BOR | 1.44 | 0.08 | 0.02 | (0.43) | 1.56 | 4.42 | 12.42 | |||
| BMA | 1.77 | 0.26 | 0.09 | 1.26 | 1.84 | 4.35 | 9.11 | |||
| STRO | 1.45 | 0.06 | 0.02 | 0.15 | 1.91 | 3.48 | 12.80 | |||
| WEST | 1.86 | 0.39 | 0.12 | (0.44) | 2.38 | 4.02 | 15.01 | |||
| NKR | 1.43 | 0.37 | 0.21 | (0.95) | 1.15 | 2.93 | 11.53 | |||
| NORSE | 2.96 | 0.14 | 0.03 | (0.52) | 3.23 | 7.94 | 31.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Scana 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 Headlines Timeline Now
Headlines TimelineStay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |
| All Next | Launch Module |
Scana ASA Corporate Management
Elected by the shareholders, the Scana ASA's board of directors comprises two types of representatives: Scana ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Scana. The board's role is to monitor Scana ASA's management team and ensure that shareholders' interests are well served. Scana 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, Scana ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Torvald Reiestad | Chief Officer | Profile | |
| Egil Kjeldsen | Head Skarpenord | Profile | |
| Hans Kilen | Managing AS | Profile | |
| Kjell Ravns | Controller | Profile | |
| Tor Skjveland | Sales Director | Profile | |
| Trond Bo | Chief Skarpenord | Profile | |
| Styrk Bekkenes | Chief Officer | Profile |