Orsted AS Correlations

D2G Stock

EUR 44.30 1.39 3.04%

The current 90-days correlation between Orsted AS and Norsk Hydro ASA is 0.15 (i.e., Average diversification). The correlation of Orsted AS 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.

Orsted AS Correlation With Market

Very good diversification

The correlation between Orsted AS and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orsted AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Orsted Stock

0.93	EDW	EDP Renovveis SA	Pair Corr
0.86	1NR	Northland Power	Pair Corr
0.82	SSU	Samsung Electronics	Pair Corr
0.82	SSUN	Samsung Electronics	Pair Corr
0.83	SSU	Samsung Electronics	Pair Corr
0.84	SSUN	Samsung Electronics	Pair Corr
0.85	BYRA	BANK RAKYAT IND	Pair Corr
0.86	BYRA	PT Bank Rakyat	Pair Corr
0.68	BYRA	PT Bank Rakyat	Pair Corr
0.76	BYRA	BANK RAKYAT IND	Pair Corr
0.8	PQ9	PT Bank Mandiri	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr

Moving against Orsted Stock

0.74	NRA	NRG Energy	Pair Corr
0.6	HEH	Power Assets Holdings	Pair Corr
0.35	94C	CGN Power	Pair Corr
0.93	PTX	Palantir Technologies	Pair Corr
0.85	PPB	Flutter Entertainment PLC	Pair Corr
0.85	VA7A	VERISK ANLYTCS A	Pair Corr
0.84	LIE	Sun Life Financial	Pair Corr
0.82	AZ5	AutoZone	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.81	VAI	Vail Resorts	Pair Corr
0.8	EN3	Enbridge	Pair Corr
0.8	HIP	Park Hotels Resorts	Pair Corr
0.8	APC	Apple Inc	Pair Corr
0.8	PCG6	PG E P6	Pair Corr
0.69	HXL	Hexcel	Pair Corr
0.68	WX7	Corporate Office Pro	Pair Corr
0.59	RZH	SCOTT TECHNOLOGY	Pair Corr
0.5	UIPN	Unipol Gruppo Finanziario	Pair Corr
0.37	NGLD	ANGLO AMERICAN SPADR	Pair Corr
0.92	2CDA	Controladora Vuela Compaa	Pair Corr
0.89	SYY	Sysco	Pair Corr
0.88	WD5A	TRAVEL LEISURE DL	Pair Corr
0.86	RC2	RCM TECHNOLOGIES	Pair Corr

Related Correlations Analysis

	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI
8SP		0.66	-0.17	-0.62	-0.15	0.52	-0.29	-0.68	-0.67	-0.69	8SP
2DG	0.66		-0.32	-0.85	-0.04	0.73	-0.65	-0.91	-0.68	-0.88	2DG
NOH1	-0.17	-0.32		0.48	0.19	0.02	-0.04	0.22	-0.14	0.12	NOH1
RS6	-0.62	-0.85	0.48		0.03	-0.61	0.5	0.86	0.5	0.81	RS6
XYTA	-0.15	-0.04	0.19	0.03		0.24	-0.27	0.06	0.01	-0.13	XYTA
9K1	0.52	0.73	0.02	-0.61	0.24		-0.88	-0.84	-0.73	-0.9	9K1
3RKU	-0.29	-0.65	-0.04	0.5	-0.27	-0.88		0.74	0.6	0.82	3RKU
VUSA	-0.68	-0.91	0.22	0.86	0.06	-0.84	0.74		0.74	0.93	VUSA
MEL	-0.67	-0.68	-0.14	0.5	0.01	-0.73	0.6	0.74		0.79	MEL
HEI	-0.69	-0.88	0.12	0.81	-0.13	-0.9	0.82	0.93	0.79		HEI
	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI

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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

HEI	+ 0.93	VUSA
VUSA	+ 0.86	RS6
HEI	+ 0.82	3RKU
HEI	+ 0.81	RS6
HEI	+ 0.79	MEL
VUSA	+ 0.74	3RKU

High negative correlations

VUSA	- 0.91	2DG
HEI	- 0.9	9K1
3RKU	- 0.88	9K1
HEI	- 0.88	2DG
RS6	- 0.85	2DG
VUSA	- 0.84	9K1

Risk-Adjusted Indicators

There is a big difference between Orsted Stock performing well and Orsted AS 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 Orsted AS'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
8SP	2.13	(0.24)	0.00	(1.51)	0.00	0.00	3.36	(4.50)	20.22
2DG	5.51	(0.23)	0.00	(0.09)	0.00	0.00	13.64	(10.00)	52.42
NOH1	1.84	(0.04)	0.00	(0.11)	0.00	0.00	5.58	(3.25)	13.10
RS6	1.44	0.07	0.03	0.26	1.54	(1.61)	2.94	(2.93)	15.24
XYTA	12.41	4.01	0.14	(20.56)	8.83	(55.21)	33.33	(25.00)	233.33
9K1	1.84	(0.33)	0.00	0.62	0.00	0.00	3.03	(4.66)	14.80
3RKU	1.58	0.41	0.23	1.12	1.29	(2.16)	3.31	(2.40)	9.54
VUSA	0.58	0.13	0.15	0.21	0.62	(0.61)	1.16	(1.24)	6.02
MEL	1.16	0.19	0.14	1.28	1.06	(1.40)	3.33	(1.78)	7.09
HEI	1.16	0.28	0.23	0.51	0.83	(1.43)	2.83	(1.60)	8.93

Be your own money manager

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

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

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Henriette Ellekrog	Ex Officer	Profile

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