Bien Sparebank Correlations

BIEN Stock

124.00 3.00 2.48%

The current 90-days correlation between Bien Sparebank ASA and Lea Bank ASA is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bien Sparebank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bien Sparebank ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Bien Sparebank Correlation With Market

Significant diversification

The correlation between Bien Sparebank ASA and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bien Sparebank ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Bien Sparebank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bien Sparebank 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 Bien Sparebank - 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 Bien Sparebank ASA to buy it.

Moving together with Bien Stock

0.77	LEA	Lea Bank ASA	Pair Corr
0.61	ROMER	Romerike Sparebank	Pair Corr
0.87	DNB	DnB ASA	Pair Corr
0.65	NHY	Norsk Hydro ASA	Pair Corr
0.84	MOWI	Mowi ASA	Pair Corr
0.76	VAR	Var Energi ASA	Pair Corr
0.75	AUTO	AutoStore Holdings	Pair Corr
0.9	RING	Sparebank 1 Ringerike	Pair Corr
0.9	XPLRA	Xplora Technologies	Pair Corr
0.94	ANDF	Andfjord Salmon AS	Pair Corr
0.82	REACH	Reach Subsea	Pair Corr

Moving against Bien Stock

0.31

EAM

EAM Solar ASA

Pair Corr

Related Correlations Analysis

	LEA	ELK	IWS	VOW	NORTH	ACR	AZT	EQVA
LEA		-0.03	-0.21	-0.55	0.76	-0.6	-0.62	-0.65	LEA
ELK	-0.03		0.21	0.46	-0.16	0.33	0.15	-0.3	ELK
IWS	-0.21	0.21		0.5	-0.3	0.38	0.49	0.05	IWS
VOW	-0.55	0.46	0.5		-0.54	0.71	0.7	0.28	VOW
NORTH	0.76	-0.16	-0.3	-0.54		-0.78	-0.79	-0.65	NORTH
ACR	-0.6	0.33	0.38	0.71	-0.78		0.86	0.5	ACR
AZT	-0.62	0.15	0.49	0.7	-0.79	0.86		0.48	AZT
EQVA	-0.65	-0.3	0.05	0.28	-0.65	0.5	0.48		EQVA
	LEA	ELK	IWS	VOW	NORTH	ACR	AZT	EQVA

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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

AZT	+ 0.86	ACR
NORTH	+ 0.76	LEA
ACR	+ 0.71	VOW
AZT	+ 0.7	VOW
VOW	+ 0.5	IWS
EQVA	+ 0.5	ACR

High negative correlations

AZT	- 0.79	NORTH
ACR	- 0.78	NORTH
EQVA	- 0.65	NORTH
EQVA	- 0.65	LEA
AZT	- 0.62	LEA
ACR	- 0.6	LEA

Risk-Adjusted Indicators

There is a big difference between Bien Stock performing well and Bien Sparebank 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 Bien Sparebank'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
LEA	2.03	0.33	0.09	1.75	2.06	(2.67)	5.14	(3.53)	13.86
ELK	1.64	(0.19)	0.00	(0.28)	0.00	0.00	3.38	(3.71)	12.04
IWS	1.24	(0.14)	0.00	(0.80)	0.00	0.00	3.00	(4.08)	15.36
VOW	5.18	(1.31)	0.00	(0.87)	0.00	0.00	7.78	(11.39)	66.61
NORTH	1.21	0.12	(0.01)	(1.26)	1.52	(1.49)	2.88	(3.57)	7.51
ACR	1.59	(0.40)	0.00	(3.04)	0.00	0.00	3.13	(4.57)	11.51
AZT	1.94	(0.46)	0.00	0.79	0.00	0.00	4.29	(4.71)	25.36
EQVA	2.88	(0.41)	0.00	(0.14)	0.00	0.00	5.58	(4.71)	26.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bien Sparebank 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.

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