ChemoMetec Correlations

CHEMM Stock

DKK 480.00 0.40 0.08%

The current 90-days correlation between ChemoMetec AS and Novo Nordisk AS is 0.22 (i.e., Modest diversification). The correlation of ChemoMetec 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.

ChemoMetec Correlation With Market

Good diversification

The correlation between ChemoMetec AS and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChemoMetec AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ChemoMetec Stock

0.52	CARL-A	Carlsberg AS	Pair Corr
0.52	CARL-B	Carlsberg AS	Pair Corr
0.49	JYSK	Jyske Bank AS	Pair Corr
0.42	ORSTED	Orsted AS	Pair Corr
0.37	GMAB	Genmab AS	Pair Corr
0.35	NOVO-B	Novo Nordisk AS	Pair Corr

Related Correlations Analysis

	NOVO-B	MAERSK-A	MAERSK-B	DSV	ORSTED	PNDORA	COLO-B	NDA-DK	JYSK
NOVO-B		-0.68	-0.7	-0.79	0.38	0.76	0.54	-0.35	0.73	NOVO-B
MAERSK-A	-0.68		1.0	0.41	-0.49	-0.18	-0.22	0.32	-0.63	MAERSK-A
MAERSK-B	-0.7	1.0		0.43	-0.49	-0.21	-0.23	0.34	-0.63	MAERSK-B
DSV	-0.79	0.41	0.43		-0.01	-0.79	-0.51	0.3	-0.48	DSV
ORSTED	0.38	-0.49	-0.49	-0.01		0.0	-0.26	-0.22	0.63	ORSTED
PNDORA	0.76	-0.18	-0.21	-0.79	0.0		0.59	-0.34	0.34	PNDORA
COLO-B	0.54	-0.22	-0.23	-0.51	-0.26	0.59		0.03	0.23	COLO-B
NDA-DK	-0.35	0.32	0.34	0.3	-0.22	-0.34	0.03		-0.2	NDA-DK
JYSK	0.73	-0.63	-0.63	-0.48	0.63	0.34	0.23	-0.2		JYSK
	NOVO-B	MAERSK-A	MAERSK-B	DSV	ORSTED	PNDORA	COLO-B	NDA-DK	JYSK

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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

MAERSK-B	+ 1.0	MAERSK-A
PNDORA	+ 0.76	NOVO-B
JYSK	+ 0.73	NOVO-B
JYSK	+ 0.63	ORSTED
COLO-B	+ 0.59	PNDORA
COLO-B	+ 0.54	NOVO-B

High negative correlations

PNDORA	- 0.79	DSV
DSV	- 0.79	NOVO-B
MAERSK-B	- 0.7	NOVO-B
MAERSK-A	- 0.68	NOVO-B
JYSK	- 0.63	MAERSK-B
JYSK	- 0.63	MAERSK-A

Risk-Adjusted Indicators

There is a big difference between ChemoMetec Stock performing well and ChemoMetec 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 ChemoMetec'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
NOVO-B	1.50	(0.30)	0.00	2.92	0.00	0.00	2.66	(3.23)	9.15
MAERSK-A	1.98	0.21	0.05	2.56	2.22	(2.28)	3.84	(3.29)	14.30
MAERSK-B	2.14	0.23	0.05	3.80	2.33	(2.45)	4.03	(3.61)	14.21
DSV	1.17	0.33	0.16	(0.70)	0.77	(1.47)	2.66	(1.43)	12.28
ORSTED	1.79	0.05	(0.03)	(1.45)	2.84	(1.89)	4.06	(3.29)	18.80
PNDORA	1.20	(0.07)	0.00	1.93	0.00	0.00	2.29	(2.42)	6.19
COLO-B	1.19	(0.10)	0.00	(0.09)	0.00	0.00	2.11	(2.35)	6.72
NDA-DK	0.86	0.01	(0.11)	(0.90)	0.97	(1.00)	1.65	(1.58)	7.98
JYSK	1.04	(0.10)	0.00	0.50	0.00	0.00	1.71	(1.60)	12.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in ChemoMetec 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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ChemoMetec Corporate Management

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

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