Aega ASA Correlations

AEGA Stock

NOK 0.26 0.03 10.34%

The current 90-days correlation between Aega ASA and Nidaros Sparebank is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aega ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aega ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Aega ASA Correlation With Market

Good diversification

The correlation between Aega ASA and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aega ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Aega Stock

0.35	HSPG	Holand og Setskog	Pair Corr
0.34	TEL	Telenor ASA	Pair Corr
0.32	DNB	DnB ASA	Pair Corr
0.32	NHY	Norsk Hydro ASA	Pair Corr
0.32	DNO	Dno ASA	Pair Corr

Related Correlations Analysis

	AURG	NOD	MELG	SKUE	NISB	BIEN	JAREN	5PG
AURG		0.74	0.87	0.89	0.81	0.84	0.81	-0.74	AURG
NOD	0.74		0.74	0.88	0.71	0.82	0.9	-0.6	NOD
MELG	0.87	0.74		0.91	0.82	0.84	0.86	-0.85	MELG
SKUE	0.89	0.88	0.91		0.85	0.85	0.93	-0.74	SKUE
NISB	0.81	0.71	0.82	0.85		0.69	0.78	-0.76	NISB
BIEN	0.84	0.82	0.84	0.85	0.69		0.84	-0.66	BIEN
JAREN	0.81	0.9	0.86	0.93	0.78	0.84		-0.74	JAREN
5PG	-0.74	-0.6	-0.85	-0.74	-0.76	-0.66	-0.74		5PG
	AURG	NOD	MELG	SKUE	NISB	BIEN	JAREN	5PG

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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

JAREN	+ 0.93	SKUE
SKUE	+ 0.91	MELG
JAREN	+ 0.9	NOD
SKUE	+ 0.89	AURG
SKUE	+ 0.88	NOD
MELG	+ 0.87	AURG

High negative correlations

5PG	- 0.85	MELG
5PG	- 0.76	NISB
5PG	- 0.74	JAREN
5PG	- 0.74	SKUE
5PG	- 0.74	AURG
5PG	- 0.66	BIEN

Risk-Adjusted Indicators

There is a big difference between Aega Stock performing well and Aega 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 Aega 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
AURG	0.72	0.13	0.21	(0.74)	0.62	(1.02)	2.36	(1.21)	5.06
NOD	2.23	0.47	0.20	0.82	2.35	(2.65)	4.05	(4.53)	26.52
MELG	0.79	0.16	0.24	0.96	0.63	(1.13)	2.42	(1.63)	4.87
SKUE	0.96	0.46	0.48	(3.11)	0.36	(1.18)	3.04	(1.65)	5.99
NISB	0.87	0.20	0.20	(1.45)	0.67	(1.91)	3.04	(1.68)	8.37
BIEN	1.72	0.19	0.14	(1.35)	1.68	(2.58)	5.13	(3.38)	16.39
JAREN	0.73	0.19	0.20	0.88	0.79	(1.00)	1.82	(1.36)	6.94
5PG	2.24	(0.18)	0.00	(0.69)	0.00	0.00	5.88	(4.55)	15.31

Aega ASA 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 Aega ASA stock to make a market-neutral strategy. Peer analysis of Aega ASA could also be used in its relative valuation, which is a method of valuing Aega ASA by comparing valuation metrics with similar companies.

Aurskog Sparebank Nordic Semiconductor ASA Melhus Sparebank Skue Sparebank Nidaros Sparebank Bien Sparebank ASA Jaeren Sparebank 5Th Planet Games American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Aega ASA Corporate Management

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

Ingebrikt Bjorkhaug	Chief Officer	Profile
Nils Skaset	Chief Officer	Profile
Giacomo Branchini	Head Operations	Profile
Fabio Buonsanti	Head of Acquisitions	Profile

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