Nel ASA Correlations
| D7G Stock | EUR 0.24 0.04 14.29% |
The current 90-days correlation between Nel ASA and Ballard Power Systems is 0.13 (i.e., Average diversification). The correlation of Nel 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.
Nel ASA Correlation With Market
Good diversification
The correlation between Nel ASA and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nel ASA and DJI in the same portfolio, assuming nothing else is changed.
Nel |
The ability to find closely correlated positions to Nel 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 Nel 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 Nel 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 Nel ASA to buy it.
Moving together with Nel Stock
Moving against Nel Stock
| 0.72 | DLN | DE LONGHI | PairCorr |
| 0.71 | FUCA | FANUC PUNSPADR 110 | PairCorr |
| 0.57 | ACO | Atlas Copco A | PairCorr |
| 0.45 | SIE | Siemens Aktiengesellscha | PairCorr |
| 0.44 | SIE | Siemens Aktiengesellscha | PairCorr |
| 0.38 | SIEB | SIEMENS AG SP | PairCorr |
| 0.36 | HHX | HAMMONIA Schiffsholding | PairCorr |
| 0.33 | RAA | RATIONAL Aktiengesellscha | PairCorr |
| 0.66 | NST | STEULER FLIESENGRUPPE | PairCorr |
| 0.6 | T04 | TITOMIC LTD | PairCorr |
| 0.52 | CEZ | CEZ a s Earnings Call Today | PairCorr |
| 0.51 | OEWA | VERBUND AG | PairCorr |
| 0.49 | IZZ | TAL Education Group | PairCorr |
| 0.47 | NOA3 | Nokia | PairCorr |
| 0.46 | IFX | Infineon Technologies | PairCorr |
| 0.45 | 19YA | Yiren Digital Earnings Call Today | PairCorr |
| 0.37 | WPHB | Warehouses De Pauw | PairCorr |
| 0.33 | MARA | MARUBENI CORP | PairCorr |
| 0.59 | RPU | Republic Services | PairCorr |
| 0.5 | MLT | MICRONIC MYDATA | PairCorr |
| 0.48 | ZHJ | Zhejiang Expressway Earnings Call This Week | PairCorr |
| 0.47 | DPU | DUNDEE PRECIOUS MET | PairCorr |
Related Correlations Analysis
| 0.67 | 0.84 | 0.67 | -0.55 | 27W | ||
| 0.67 | 0.79 | 0.72 | -0.73 | IJ8 | ||
| 0.84 | 0.79 | 0.9 | -0.73 | PO0 | ||
| 0.67 | 0.72 | 0.9 | -0.83 | PLUN | ||
| -0.55 | -0.73 | -0.73 | -0.83 | 3CP | ||
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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 Nel Stock performing well and Nel 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 Nel 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 27W | 2.71 | (0.35) | 0.00 | (10.60) | 0.00 | 4.87 | 20.10 | |||
| IJ8 | 3.17 | (0.42) | 0.00 | 0.31 | 0.00 | 6.25 | 30.16 | |||
| PO0 | 3.20 | (0.29) | 0.00 | (2.32) | 0.00 | 7.89 | 24.43 | |||
| PLUN | 4.25 | (0.46) | 0.00 | 10.72 | 0.00 | 10.41 | 31.33 | |||
| 3CP | 3.19 | 1.05 | 0.27 | 0.89 | 3.20 | 6.84 | 18.32 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nel ASA 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.Did you try this?
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Nel ASA Corporate Management
Elected by the shareholders, the Nel ASA's board of directors comprises two types of representatives: Nel ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nel. The board's role is to monitor Nel ASA's management team and ensure that shareholders' interests are well served. Nel 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, Nel ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jorn Rosenlund | Chief Officer | Profile | |
| Esa Laukkanen | Chief Officer | Profile | |
| Filip Smeets | Chief Electrolyser | Profile | |
| Hans Hide | Chief Electrolyser | Profile | |
| Stein Erdal | Sr Counsel | Profile | |
| Robert Borin | VP Division | Profile | |
| Hakon Volldal | Chief Officer | Profile |