Hafnia Correlations
| 1OQ Stock | EUR 4.98 0.28 5.96% |
The current 90-days correlation between Hafnia Limited and Merit Medical Systems is 0.02 (i.e., Significant diversification). The correlation of Hafnia 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.
Hafnia Correlation With Market
Good diversification
The correlation between Hafnia Limited and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hafnia Limited and DJI in the same portfolio, assuming nothing else is changed.
Hafnia |
The ability to find closely correlated positions to Hafnia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hafnia 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 Hafnia - 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 Hafnia Limited to buy it.
Moving together with Hafnia Stock
| 0.8 | 29K | DFDS AS | PairCorr |
| 0.65 | OYD | Pacific Basin Shipping | PairCorr |
| 0.78 | HYU | Hyundai Motor | PairCorr |
| 0.75 | HYU | Hyundai Motor | PairCorr |
| 0.75 | HYU | Hyundai Motor | PairCorr |
Moving against Hafnia Stock
| 0.82 | DP4A | AP Mller | PairCorr |
| 0.82 | WML2 | Wilh Wilhelmsen Holding | PairCorr |
| 0.81 | DP4B | AP Møller | PairCorr |
| 0.75 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.74 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.59 | 1DH | Clarkson PLC | PairCorr |
| 0.54 | 2SV | ZIM Integrated Shipping | PairCorr |
| 0.91 | QAN | Qantas Airways | PairCorr |
| 0.89 | CQD | Charter Communications | PairCorr |
| 0.88 | 2T9A | TRAINLINE PLC LS | PairCorr |
| 0.87 | MFZA | Mitsubishi UFJ Financial | PairCorr |
| 0.86 | EN3 | Enbridge | PairCorr |
| 0.86 | 2WY | Wyndham Hotels Resorts | PairCorr |
| 0.86 | HI91 | Hilton Worldwide Holdings | PairCorr |
| 0.85 | PTX | Palantir Technologies | PairCorr |
| 0.83 | PCG6 | PG E P6 | PairCorr |
| 0.82 | WX1 | Acadia Realty Trust | PairCorr |
| 0.81 | EQN2 | Equinix | PairCorr |
| 0.76 | RC2 | RCM TECHNOLOGIES | PairCorr |
| 0.68 | RZH | SCOTT TECHNOLOGY | PairCorr |
| 0.58 | APC | Apple Inc | PairCorr |
| 0.52 | 4GE | Grupo Mxico SAB | PairCorr |
| 0.41 | D2V | PARKEN Sport Enterta | PairCorr |
| 0.92 | WD5A | TRAVEL LEISURE DL | PairCorr |
| 0.91 | PNP | PNC Financial | PairCorr |
| 0.9 | VA7A | VERISK ANLYTCS A | PairCorr |
| 0.89 | ADH2 | Air Canada | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hafnia Stock performing well and Hafnia 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 Hafnia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FJZ | 2.79 | 0.02 | (0.01) | 0.00 | 3.42 | 6.43 | 17.91 | |||
| XYD | 1.88 | 0.23 | 0.00 | (1.21) | 0.00 | 9.09 | 35.38 | |||
| MM3 | 1.16 | 0.05 | 0.02 | 0.78 | 1.19 | 2.31 | 8.88 | |||
| K41 | 1.85 | (0.24) | 0.00 | (0.47) | 0.00 | 3.85 | 15.63 | |||
| CY9D | 2.01 | 0.28 | 0.11 | 5.80 | 1.76 | 4.60 | 13.93 | |||
| AFG | 2.03 | (0.14) | 0.00 | (0.21) | 0.00 | 5.36 | 18.58 | |||
| CDE | 0.91 | (0.07) | 0.00 | (1.32) | 0.00 | 2.25 | 6.05 | |||
| WCLA | 1.90 | (0.29) | 0.00 | (17.92) | 0.00 | 3.28 | 13.59 |
Hafnia 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 Hafnia stock to make a market-neutral strategy. Peer analysis of Hafnia could also be used in its relative valuation, which is a method of valuing Hafnia by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Hafnia Corporate Management
Elected by the shareholders, the Hafnia's board of directors comprises two types of representatives: Hafnia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hafnia. The board's role is to monitor Hafnia's management team and ensure that shareholders' interests are well served. Hafnia'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, Hafnia's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ralph Juhl | Ex Technical | Profile | |
| Soren Jensen | Ex Management | Profile | |
| Sren Winther | VP Commercial | Profile | |
| Mikael Skov | Chief Officer | Profile | |
| Thomas Andersen | Research IR | Profile | |
| Perry Echtelt | Chief Officer | Profile | |
| Jens Christophersen | Ex Commercial | Profile |