Akastor ASA Correlations
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The current 90-days correlation between Akastor ASA and Calfrac Well Services is -0.23 (i.e., Very good diversification). The correlation of Akastor 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.
Akastor ASA Correlation With Market
Good diversification
The correlation between Akastor ASA 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 Akastor ASA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Akastor 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 Akastor 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 Akastor 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 Akastor ASA to buy it.
Moving against Akastor Pink Sheet
| 0.46 | BFAM | Bright Horizons Family | PairCorr |
| 0.44 | WYGPF | Worley Limited | PairCorr |
| 0.42 | UBER | Uber Technologies | PairCorr |
| 0.42 | LH | Laboratory | PairCorr |
| 0.41 | SIGL | Signal Advance | PairCorr |
| 0.41 | STEM | Stem Inc | PairCorr |
| 0.39 | FI | Fiserv, | PairCorr |
| 0.39 | BKR | Baker Hughes | PairCorr |
| 0.37 | ABBV | AbbVie Inc | PairCorr |
| 0.36 | RSLBF | RaySearch Laboratories | PairCorr |
Related Correlations Analysis
| -0.13 | 0.0 | -0.21 | 0.0 | 0.0 | 0.42 | CFWFF | ||
| -0.13 | 0.0 | 0.02 | 0.0 | 0.0 | 0.01 | AURI | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | USEI | ||
| -0.21 | 0.02 | 0.0 | 0.0 | 0.0 | -0.54 | GWTI | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CGGYY | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SUBCY | ||
| 0.42 | 0.01 | 0.0 | -0.54 | 0.0 | 0.0 | TOLWF | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Akastor Pink Sheet performing well and Akastor 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 Akastor 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CFWFF | 1.35 | (0.05) | 0.00 | (0.18) | 0.00 | 3.13 | 18.95 | |||
| AURI | 36.95 | 8.97 | 0.19 | (2.78) | 26.43 | 100.00 | 150.00 | |||
| USEI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GWTI | 10.60 | 1.67 | 0.09 | 8.58 | 11.41 | 45.16 | 83.33 | |||
| CGGYY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SUBCY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TOLWF | 1.51 | (0.05) | 0.00 | (0.23) | 0.00 | 3.54 | 9.22 |
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Akastor ASA Corporate Management
| Sander Seeberg | Head Tax | Profile | |
| Bruce Lethuillier | Head Treasury | Profile | |
| Christian Starberg | Financial Controller | Profile | |
| Tore Langballe | Head of Communications and Investor Relations | Profile | |
| Oyvind Paaske | Chief Officer | Profile |