SOLSTAD OFFSHORE Correlations

SZL Stock

EUR 3.45 0.02 0.58%

The current 90-days correlation between SOLSTAD OFFSHORE and Superior Plus Corp is -0.1 (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

Significant diversification

The correlation between SOLSTAD OFFSHORE NK and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOLSTAD OFFSHORE NK 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 NK to buy it.

Moving together with SOLSTAD Stock

0.66

1DH

Clarkson PLC

Pair Corr

Moving against SOLSTAD Stock

0.5	HLAA	HAPAG LLOYD UNSPADR	Pair Corr
0.43	2SV	ZIM Integrated Shipping	Pair Corr
0.39	N9B	BANDAI NAMCO Holdings	Pair Corr
0.39	HYB	HOYA	Pair Corr
0.39	DBPE	Xtrackers LevDAX	Pair Corr
0.32	OYD	Pacific Basin Shipping	Pair Corr

Related Correlations Analysis

	2SV	8SP	6NM	2DG	TLX	2GB	INVN	IUI1	INL	RS6
2SV		-0.62	-0.46	-0.72	-0.17	0.32	0.58	0.71	0.81	0.68	2SV
8SP	-0.62		0.67	0.64	0.11	-0.33	-0.76	-0.83	-0.63	-0.82	8SP
6NM	-0.46	0.67		0.34	0.31	0.02	-0.28	-0.47	-0.31	-0.34	6NM
2DG	-0.72	0.64	0.34		-0.01	-0.36	-0.62	-0.79	-0.81	-0.67	2DG
TLX	-0.17	0.11	0.31	-0.01		-0.17	0.12	0.09	-0.12	0.15	TLX
2GB	0.32	-0.33	0.02	-0.36	-0.17		0.43	0.35	0.38	0.33	2GB
INVN	0.58	-0.76	-0.28	-0.62	0.12	0.43		0.8	0.6	0.89	INVN
IUI1	0.71	-0.83	-0.47	-0.79	0.09	0.35	0.8		0.69	0.86	IUI1
INL	0.81	-0.63	-0.31	-0.81	-0.12	0.38	0.6	0.69		0.73	INL
RS6	0.68	-0.82	-0.34	-0.67	0.15	0.33	0.89	0.86	0.73		RS6
	2SV	8SP	6NM	2DG	TLX	2GB	INVN	IUI1	INL	RS6

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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

RS6	+ 0.89	INVN
RS6	+ 0.86	IUI1
INL	+ 0.81	2SV
IUI1	+ 0.8	INVN
RS6	+ 0.73	INL
IUI1	+ 0.71	2SV

High negative correlations

IUI1	- 0.83	8SP
RS6	- 0.82	8SP
INL	- 0.81	2DG
IUI1	- 0.79	2DG
INVN	- 0.76	8SP
2DG	- 0.72	2SV

Risk-Adjusted Indicators

There is a big difference between SOLSTAD Stock 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
2SV	4.05	0.44	0.07	0.86	5.33	(4.37)	14.17	(8.49)	35.06
8SP	2.08	(0.13)	0.00	0.64	0.00	0.00	3.36	(4.74)	20.22
6NM	1.23	(0.04)	(0.04)	0.06	1.75	(1.36)	2.79	(2.69)	9.64
2DG	4.15	(1.33)	0.00	(2.07)	0.00	0.00	7.14	(8.57)	52.42
TLX	0.95	(0.03)	(0.07)	0.07	1.12	(1.14)	2.67	(1.64)	7.58
2GB	1.81	0.02	(0.03)	0.27	2.17	(2.15)	4.28	(3.67)	13.78
INVN	2.00	0.16	0.06	0.27	2.22	(2.44)	5.59	(4.25)	14.01
IUI1	1.26	0.18	0.11	0.40	1.06	(1.50)	3.28	(1.96)	10.30
INL	2.49	0.22	0.12	0.24	2.26	(3.25)	6.80	(3.69)	13.89
RS6	1.37	0.31	0.12	1.91	1.36	(1.61)	2.94	(2.17)	13.51

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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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