Solstad Offshore Correlations

SLOFF Stock

USD 3.09 0.00 0.00%

The current 90-days correlation between Solstad Offshore ASA and Amaero International is -0.01 (i.e., Good diversification). The correlation of Solstad Offshore 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.

Solstad Offshore Correlation With Market

Very weak diversification

The correlation between Solstad Offshore ASA and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solstad Offshore ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Solstad Pink Sheet

0.62	AMKBY	AP Moeller Maersk	Pair Corr
0.73	NREF	Nexpoint Real Estate	Pair Corr
0.78	DAL	Delta Air Lines	Pair Corr
0.83	CRGGF	China Resources Gas	Pair Corr
0.76	GOOG	Alphabet Class C	Pair Corr
0.64	TCLAF	Transcontinental	Pair Corr

Moving against Solstad Pink Sheet

0.63	CMWCF	Cromwell Property	Pair Corr
0.47	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.35	CICHF	China Construction Bank	Pair Corr

Related Correlations Analysis

	JNSTF	QEPC	TNPOF	NRSAF	AMROF	BSEAF	SAFS	DIALF	ADFJF	NORSF
JNSTF		-0.26	0.0	0.29	-0.12	0.55	0.0	-0.55	-0.45	0.25	JNSTF
QEPC	-0.26		0.0	-0.67	0.64	-0.36	0.0	0.62	0.58	0.43	QEPC
TNPOF	0.0	0.0		0.0	0.0	0.0	1.0	0.0	0.0	0.0	TNPOF
NRSAF	0.29	-0.67	0.0		-0.64	0.71	0.0	-0.86	-0.67	-0.39	NRSAF
AMROF	-0.12	0.64	0.0	-0.64		-0.33	0.0	0.59	0.49	0.38	AMROF
BSEAF	0.55	-0.36	0.0	0.71	-0.33		0.0	-0.8	-0.64	-0.17	BSEAF
SAFS	0.0	0.0	1.0	0.0	0.0	0.0		0.0	0.0	0.0	SAFS
DIALF	-0.55	0.62	0.0	-0.86	0.59	-0.8	0.0		0.83	0.24	DIALF
ADFJF	-0.45	0.58	0.0	-0.67	0.49	-0.64	0.0	0.83		0.25	ADFJF
NORSF	0.25	0.43	0.0	-0.39	0.38	-0.17	0.0	0.24	0.25		NORSF
	JNSTF	QEPC	TNPOF	NRSAF	AMROF	BSEAF	SAFS	DIALF	ADFJF	NORSF

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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

SAFS	+ 1.0	TNPOF
ADFJF	+ 0.83	DIALF
BSEAF	+ 0.71	NRSAF
AMROF	+ 0.64	QEPC
DIALF	+ 0.62	QEPC
DIALF	+ 0.59	AMROF

High negative correlations

DIALF	- 0.86	NRSAF
DIALF	- 0.8	BSEAF
ADFJF	- 0.67	NRSAF
NRSAF	- 0.67	QEPC
ADFJF	- 0.64	BSEAF
AMROF	- 0.64	NRSAF

Risk-Adjusted Indicators

There is a big difference between Solstad Pink Sheet performing well and Solstad Offshore 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 Solstad Offshore'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
JNSTF	0.52	(0.02)	0.00	(0.29)	0.00	0.00	1.85	(1.75)	11.12
QEPC	1.36	(0.04)	(0.02)	0.00	1.82	(2.05)	3.66	(3.73)	13.80
TNPOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NRSAF	1.78	(0.07)	0.00	(0.11)	0.00	0.00	3.95	(7.04)	36.87
AMROF	6.74	0.66	0.07	0.42	6.76	(12.49)	18.75	(11.76)	63.81
BSEAF	0.38	(0.06)	0.00	1.99	0.00	0.00	0.00	0.00	10.63
SAFS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIALF	0.56	0.25	0.00	0.49	0.00	0.00	0.00	0.00	17.20
ADFJF	2.09	0.49	0.18	0.51	1.79	(3.29)	5.71	(4.21)	19.03
NORSF	4.36	0.49	0.03	(4.94)	5.42	(16.49)	16.67	(15.38)	50.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Solstad Offshore 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.

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Solstad Offshore Corporate Management

Jostein Fjelland	Accounting Mang	Profile
Kjetil Ramstad	Chief Officer	Profile
Jon Gummedal	Ex Aquaculture	Profile
Tor Tveit	Chief Officer	Profile
Per Stange	HR Director	Profile

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