TGS ASA Correlations

TGC Stock

EUR 9.99 0.14 1.38%

The current 90-days correlation between TGS ASA and The City of is -0.28 (i.e., Very good diversification). The correlation of TGS 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.

TGS ASA Correlation With Market

Poor diversification

The correlation between TGS ASA and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TGS ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TGS Stock

0.92	TKDA	Takeda Pharmaceutical	Pair Corr
0.86	CLN	The City	Pair Corr
0.88	2HZ	Odyssean Investment Trust	Pair Corr
0.76	PQ9	BANK MANDIRI	Pair Corr
0.78	BYRA	PT Bank Rakyat	Pair Corr
0.73	RGPB	Reinsurance Group	Pair Corr
0.75	DYF1	Dynavax Technologies	Pair Corr
0.7	PCG	PGE Corporation	Pair Corr
0.69	AIL	LAir Liquide SA	Pair Corr
0.88	UEO	WESTLAKE CHEMICAL	Pair Corr
0.89	ECK	LUDWIG BECK	Pair Corr
0.94	TQI	TELECOM ITALIA	Pair Corr
0.65	FEV	FORTEC Elektronik	Pair Corr
0.87	6MK	Merck	Pair Corr
0.91	HY9H	SK hynix	Pair Corr
0.87	B4M1	SpareBank 1 SR	Pair Corr
0.89	EMB	5N Plus	Pair Corr
0.86	CXR	CSX Corporation	Pair Corr
0.91	9TO	Toyota Tsusho Corp	Pair Corr
0.86	ASME	ASML Holding NV	Pair Corr
0.88	169	Aeroporto Guglielmo	Pair Corr
0.71	WPU	Wereldhave Belgium	Pair Corr

Moving against TGS Stock

0.8	BZG2	BANK CENTRAL ASIA	Pair Corr
0.73	14D	tokentus investment	Pair Corr
0.71	BYRA	BANK RAKYAT IND	Pair Corr
0.63	GE9	Genmab A/S	Pair Corr
0.8	BZG2	PT Bank Central	Pair Corr

Related Correlations Analysis

	TKDA	GE9	CLN	2U4	R7I	5QG	2HZ	14D	GE0	3SR
TKDA		-0.48	0.95	0.55	-0.35	0.14	0.93	-0.79	0.11	0.53	TKDA
GE9	-0.48		-0.47	-0.17	0.08	0.37	-0.49	0.44	0.21	-0.3	GE9
CLN	0.95	-0.47		0.66	-0.43	0.24	0.92	-0.76	0.26	0.52	CLN
2U4	0.55	-0.17	0.66		-0.54	0.46	0.57	-0.33	0.57	0.3	2U4
R7I	-0.35	0.08	-0.43	-0.54		-0.44	-0.33	0.29	-0.49	-0.22	R7I
5QG	0.14	0.37	0.24	0.46	-0.44		0.13	-0.14	0.73	0.09	5QG
2HZ	0.93	-0.49	0.92	0.57	-0.33	0.13		-0.72	0.12	0.61	2HZ
14D	-0.79	0.44	-0.76	-0.33	0.29	-0.14	-0.72		-0.01	-0.54	14D
GE0	0.11	0.21	0.26	0.57	-0.49	0.73	0.12	-0.01		0.15	GE0
3SR	0.53	-0.3	0.52	0.3	-0.22	0.09	0.61	-0.54	0.15		3SR
	TKDA	GE9	CLN	2U4	R7I	5QG	2HZ	14D	GE0	3SR

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

CLN	+ 0.95	TKDA
2HZ	+ 0.93	TKDA
2HZ	+ 0.92	CLN
GE0	+ 0.73	5QG
2U4	+ 0.66	CLN
3SR	+ 0.61	2HZ

High negative correlations

14D	- 0.79	TKDA
14D	- 0.76	CLN
14D	- 0.72	2HZ
3SR	- 0.54	14D
R7I	- 0.54	2U4
GE0	- 0.49	R7I

Risk-Adjusted Indicators

There is a big difference between TGS Stock performing well and TGS 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 TGS 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
TKDA	1.00	0.42	0.28	(3.49)	0.54	(1.45)	2.78	(1.44)	5.52
GE9	1.60	(0.09)	0.00	0.68	0.00	0.00	2.73	(3.42)	9.60
CLN	1.09	0.27	0.13	1.79	1.14	(1.22)	2.97	(2.21)	6.15
2U4	1.29	0.21	0.06	(47.38)	1.43	(1.86)	3.79	(3.10)	13.01
R7I	1.31	(0.04)	0.00	0.21	0.00	0.00	3.80	(2.60)	11.13
5QG	4.10	0.64	0.13	1.01	4.29	(4.79)	11.93	(7.79)	40.57
2HZ	0.95	0.20	0.09	1.33	0.94	(1.27)	2.21	(1.96)	5.63
14D	2.86	0.07	0.00	0.03	0.00	0.00	5.21	(6.25)	56.92
GE0	76.75	41.37	1.78	(1.09)	14.66	(115.28)	35.42	(22.00)	1,837
3SR	21.39	4.45	0.17	1.69	18.30	(38.24)	82.61	(38.10)	136.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in TGS 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 Economic Indicators Now

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing

All Next

Launch Module

TGS ASA Corporate Management

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

Brd Stenberg	VP Intelligence	Profile
Paul Young	Managing Pacific	Profile
Jan Schoolmeesters	Ex Solutions	Profile
Wadii Karkouri	Executive Technology	Profile
Will Ashby	Executive Development	Profile
Scott Michell	Senior Imaging	Profile
Carel Hooijkaas	Executive Acquisition	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