Telenor ASA Correlations

TEQ Stock

EUR 15.64 0.13 0.84%

The current 90-days correlation between Telenor ASA and BANK RAKYAT IND is 0.04 (i.e., Significant 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

Very weak diversification

The correlation between Telenor ASA and DJI is 0.57 (i.e., Very weak 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 together with Telenor Stock

0.61	SKNB	Skanska AB	Pair Corr
0.61	485B	Amcor PLC Split	Pair Corr
0.65	SII	Wheaton Precious Metals	Pair Corr
0.73	HKT	HK Electric Investments	Pair Corr
0.64	3RB	RECKITT BENCK GRP	Pair Corr
0.61	TWA	TOWA	Pair Corr
0.79	ELG	Elmos Semiconductor	Pair Corr
0.77	01H	HORIBA	Pair Corr
0.77	HIUC	China Taiping Insurance	Pair Corr
0.82	TWZ	Trican Well Service Earnings Call This Week	Pair Corr
0.67	RATV	Raisio plc	Pair Corr
0.87	PPQ	PPG INDUSTRIES	Pair Corr
0.73	43C	CACTUS INC CLA	Pair Corr
0.87	SVKB	SANDVIK	Pair Corr

Moving against Telenor Stock

0.75	K9R	KENEDIX OFFICE INV	Pair Corr
0.59	O2F	ORIX JREIT INC	Pair Corr
0.43	JUA	Japan Real Estate	Pair Corr
0.41	0S2	UNITED URBAN INV	Pair Corr
0.37	EFF	DTEFFWECHSEL BET Split	Pair Corr
0.33	7YC	Synthomer plc	Pair Corr
0.42	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.38	DBPD	Xtrackers ShortDAX	Pair Corr
0.37	3HB	Hybrigenics Societe	Pair Corr

Related Correlations Analysis

	BYRA	BYRA	BYRA	BYRA	BZG2	BZG2	BZG2	PQ9	PQ9	PQ9
BYRA		0.32	0.07	0.45	0.67	0.06	0.03	-0.07	-0.03	0.06	BYRA
BYRA	0.32		-0.35	-0.33	0.33	0.73	0.61	-0.28	-0.12	-0.47	BYRA
BYRA	0.07	-0.35		0.38	0.11	-0.33	-0.41	0.22	0.16	0.22	BYRA
BYRA	0.45	-0.33	0.38		0.38	-0.51	-0.51	0.4	0.12	0.48	BYRA
BZG2	0.67	0.33	0.11	0.38		0.27	0.11	-0.22	-0.32	-0.17	BZG2
BZG2	0.06	0.73	-0.33	-0.51	0.27		0.78	-0.45	-0.17	-0.55	BZG2
BZG2	0.03	0.61	-0.41	-0.51	0.11	0.78		-0.18	-0.04	-0.4	BZG2
PQ9	-0.07	-0.28	0.22	0.4	-0.22	-0.45	-0.18		0.44	0.61	PQ9
PQ9	-0.03	-0.12	0.16	0.12	-0.32	-0.17	-0.04	0.44		0.4	PQ9
PQ9	0.06	-0.47	0.22	0.48	-0.17	-0.55	-0.4	0.61	0.4		PQ9
	BYRA	BYRA	BYRA	BYRA	BZG2	BZG2	BZG2	PQ9	PQ9	PQ9

Please upgrade your account to get full access to Macroaxis premium features

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

BZG2	+ 0.78	BZG2
BZG2	+ 0.73	BYRA
BZG2	+ 0.67	BYRA
BZG2	+ 0.61	BYRA
PQ9	+ 0.61	PQ9
PQ9	+ 0.48	BYRA

High negative correlations

PQ9	- 0.55	BZG2
BZG2	- 0.51	BYRA
BZG2	- 0.51	BYRA
PQ9	- 0.47	BYRA
PQ9	- 0.45	BZG2
BZG2	- 0.41	BYRA

Risk-Adjusted Indicators

There is a big difference between Telenor Stock 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
BYRA	0.86	(0.10)	0.00	(0.16)	0.00	0.00	5.88	(5.56)	12.13
BYRA	1.29	(0.22)	0.00	(0.39)	0.00	0.00	5.00	(5.00)	35.71
BYRA	4.14	0.38	0.04	(0.35)	4.34	(7.93)	11.11	(10.00)	26.67
BYRA	1.72	0.20	0.01	(0.09)	2.16	(6.44)	5.88	(5.56)	17.03
BZG2	0.66	(0.09)	0.00	(0.39)	0.00	0.00	2.56	(2.50)	5.26
BZG2	0.75	(0.24)	0.00	(0.70)	0.00	0.00	0.00	(2.56)	10.33
BZG2	2.74	(0.27)	0.00	1.53	0.00	0.00	7.50	(7.69)	20.00
PQ9	0.87	0.09	0.00	(5.47)	0.00	0.00	4.00	0.00	24.58
PQ9	4.85	0.27	0.03	0.18	5.73	(9.30)	17.39	(14.29)	40.26
PQ9	0.69	0.05	0.00	0.16	0.00	0.00	4.55	(4.35)	9.31

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.

Did you try this?

Run Equity Analysis Now

Equity Analysis

Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities

All Next

Launch Module

Telenor ASA Corporate Management

Elected by the shareholders, the Telenor ASA's board of directors comprises two types of representatives: Telenor ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Telenor. The board's role is to monitor Telenor ASA's management team and ensure that shareholders' interests are well served. Telenor 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, Telenor ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Sigve Brekke	Pres CEO	Profile
Tone Bachke	Ex CFO	Profile
Rita Skjaervik	Sustainability People	Profile
Atle Lessum	Acting Communications	Profile
PetterBorre Furberg	Ex Nordics	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC