Thor Medical Correlations
TRMED Stock | 2.34 0.01 0.43% |
The current 90-days correlation between Thor Medical ASA and Techstep ASA is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Thor Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Thor Medical ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Thor Medical Correlation With Market
Significant diversification
The correlation between Thor Medical ASA 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 Thor Medical ASA and DJI in the same portfolio, assuming nothing else is changed.
Thor |
The ability to find closely correlated positions to Thor Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thor Medical 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 Thor Medical - 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 Thor Medical ASA to buy it.
Moving together with Thor Stock
Moving against Thor Stock
0.69 | NONG | Sparebank 1 Nord | PairCorr |
0.65 | SKUE | Skue Sparebank | PairCorr |
0.55 | MELG | Melhus Sparebank | PairCorr |
0.5 | SOFTX | SoftOx Solutions | PairCorr |
0.47 | AZT | Arcticzymes Technologies | PairCorr |
0.45 | AKRBP | Aker BP ASA | PairCorr |
0.43 | TEL | Telenor ASA | PairCorr |
0.42 | DNB | DnB ASA | PairCorr |
0.33 | MOWI | Mowi ASA | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Thor Stock performing well and Thor Medical 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 Thor Medical'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
TECH | 2.02 | 0.09 | 0.04 | 0.19 | 2.28 | 5.34 | 14.77 | |||
MING | 0.67 | 0.16 | 0.22 | 1.30 | 0.60 | 1.72 | 4.21 | |||
HELG | 1.29 | 0.17 | 0.13 | 1.36 | 1.23 | 3.03 | 9.05 | |||
MOBA | 1.65 | 0.28 | 0.16 | 1.16 | 1.49 | 4.51 | 12.82 | |||
GEOS | 1.97 | 0.10 | 0.05 | 55.28 | 2.42 | 5.07 | 12.48 | |||
PARB | 0.88 | 0.21 | 0.19 | (2.22) | 0.96 | 2.26 | 5.35 | |||
JAREN | 0.82 | 0.19 | 0.15 | (0.66) | 0.97 | 2.04 | 6.94 | |||
ROMER | 0.85 | 0.16 | 0.11 | 0.27 | 0.88 | 2.19 | 8.51 |
Thor Medical Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Thor Medical stock to make a market-neutral strategy. Peer analysis of Thor Medical could also be used in its relative valuation, which is a method of valuing Thor Medical by comparing valuation metrics with similar companies.
Risk & Return | Correlation |