Telenor ASA Correlations

TELNF Stock

USD 11.66 0.00 0.00%

The current 90-days correlation between Telenor ASA and Orange SA ADR is -0.01 (i.e., Good diversification). The correlation of Telenor ASA 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.

Telenor ASA Correlation With Market

Average diversification

The correlation between Telenor ASA and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telenor ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Telenor 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 Telenor 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 Telenor 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 Telenor ASA to buy it.

Moving against Telenor Pink Sheet

0.47	IONQ	IONQ Inc	Pair Corr
0.41	NVDA	NVIDIA	Pair Corr
0.38	NTTYY	Nippon Telegraph	Pair Corr
0.46	DIS	Walt Disney Aggressive Push	Pair Corr
0.46	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.44	BAC	Bank of America Aggressive Push	Pair Corr
0.4	NDAQ	Nasdaq Inc	Pair Corr
0.39	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.36	VRT	Vertiv Holdings	Pair Corr
0.36	WMT	Walmart Aggressive Push	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ORAN	T	VZ	TLSNY	MTNOY	PTXKY	VDMCY	KKPNY	SCMWY	MYTAY
ORAN		-0.65	0.3	0.51	0.88	0.74	0.83	-0.67	0.7	-0.52	ORAN
T	-0.65		0.2	0.04	-0.61	-0.69	-0.63	0.24	-0.53	0.42	T
VZ	0.3	0.2		0.1	0.3	0.12	0.2	-0.5	0.36	-0.32	VZ
TLSNY	0.51	0.04	0.1		0.44	0.33	0.39	-0.36	0.31	-0.13	TLSNY
MTNOY	0.88	-0.61	0.3	0.44		0.7	0.92	-0.62	0.79	-0.5	MTNOY
PTXKY	0.74	-0.69	0.12	0.33	0.7		0.71	-0.52	0.66	-0.55	PTXKY
VDMCY	0.83	-0.63	0.2	0.39	0.92	0.71		-0.52	0.78	-0.5	VDMCY
KKPNY	-0.67	0.24	-0.5	-0.36	-0.62	-0.52	-0.52		-0.72	0.7	KKPNY
SCMWY	0.7	-0.53	0.36	0.31	0.79	0.66	0.78	-0.72		-0.79	SCMWY
MYTAY	-0.52	0.42	-0.32	-0.13	-0.5	-0.55	-0.5	0.7	-0.79		MYTAY
	ORAN	T	VZ	TLSNY	MTNOY	PTXKY	VDMCY	KKPNY	SCMWY	MYTAY

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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

VDMCY	+ 0.92	MTNOY
MTNOY	+ 0.88	ORAN
VDMCY	+ 0.83	ORAN
SCMWY	+ 0.79	MTNOY
SCMWY	+ 0.78	VDMCY
PTXKY	+ 0.74	ORAN

High negative correlations

MYTAY	- 0.79	SCMWY
SCMWY	- 0.72	KKPNY
PTXKY	- 0.69	T
KKPNY	- 0.67	ORAN
T	- 0.65	ORAN
VDMCY	- 0.63	T

Risk-Adjusted Indicators

There is a big difference between Telenor Pink Sheet performing well and Telenor 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 Telenor 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
ORAN	0.85	(0.15)	0.00	(0.95)	0.00	0.00	1.40	(1.92)	5.67
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
VZ	0.98	0.12	0.00	1.61	1.30	(1.06)	2.16	(2.05)	8.86
TLSNY	1.19	(0.23)	0.00	(1.44)	0.00	0.00	2.01	(3.19)	6.37
MTNOY	1.74	(0.27)	0.00	1.86	0.00	0.00	3.55	(4.23)	11.05
PTXKY	3.05	0.14	0.00	0.02	0.00	0.00	7.17	(6.92)	19.82
VDMCY	1.57	(0.18)	0.00	0.94	0.00	0.00	2.84	(3.68)	9.90
KKPNY	0.88	0.27	0.11	(2.62)	0.91	(1.08)	2.62	(1.63)	6.64
SCMWY	0.82	(0.12)	0.00	1.62	0.00	0.00	1.44	(1.71)	6.22
MYTAY	1.62	0.01	(0.01)	0.14	2.11	(1.94)	3.82	(4.12)	12.26

Be your own money manager

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

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Jorgen Rostrup	Ex Bus	Profile
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