Digia Oyj Correlations

DIGIA Stock

EUR 6.78 0.10 1.50%

The current 90-days correlation between Digia Oyj and Nokia Oyj is 0.2 (i.e., Modest diversification). The correlation of Digia Oyj 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.

Digia Oyj Correlation With Market

Good diversification

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

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

Moving together with Digia Stock

0.77

RUSH

Rush Factory Oyj

Pair Corr

Moving against Digia Stock

0.92	FSECURE	F SECURE OYJ	Pair Corr
0.91	QTCOM	Qt Group Oyj	Pair Corr
0.89	REG1V	Revenio Group	Pair Corr
0.85	SSH1V	SSH Communications	Pair Corr
0.84	KEMPOWR	Kempower Oyj	Pair Corr
0.81	EQV1V	eQ Oyj	Pair Corr

Related Correlations Analysis

	NOKIA	TELIA1	NDA-FI	ERIBR	FIA1S	FORTUM	NESTE
NOKIA		-0.58	0.47	0.62	0.1	-0.46	-0.51	NOKIA
TELIA1	-0.58		-0.13	-0.61	0.47	0.66	0.82	TELIA1
NDA-FI	0.47	-0.13		0.55	0.0	0.16	-0.15	NDA-FI
ERIBR	0.62	-0.61	0.55		-0.41	-0.2	-0.73	ERIBR
FIA1S	0.1	0.47	0.0	-0.41		0.2	0.58	FIA1S
FORTUM	-0.46	0.66	0.16	-0.2	0.2		0.63	FORTUM
NESTE	-0.51	0.82	-0.15	-0.73	0.58	0.63		NESTE
	NOKIA	TELIA1	NDA-FI	ERIBR	FIA1S	FORTUM	NESTE

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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

NESTE	+ 0.82	TELIA1
FORTUM	+ 0.66	TELIA1
NESTE	+ 0.63	FORTUM
ERIBR	+ 0.62	NOKIA
NESTE	+ 0.58	FIA1S
ERIBR	+ 0.55	NDA-FI

High negative correlations

NESTE	- 0.73	ERIBR
ERIBR	- 0.61	TELIA1
TELIA1	- 0.58	NOKIA
NESTE	- 0.51	NOKIA
FORTUM	- 0.46	NOKIA
FIA1S	- 0.41	ERIBR

Risk-Adjusted Indicators

There is a big difference between Digia Stock performing well and Digia Oyj 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 Digia Oyj'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
NOKIA	1.08	0.15	0.09	(0.22)	1.32	(1.27)	2.53	(1.81)	13.86
TELIA1	0.84	(0.12)	0.00	(3.58)	0.00	0.00	1.88	(2.26)	5.57
NDA-FI	0.88	0.02	0.00	(0.05)	1.02	(1.03)	1.81	(1.94)	8.57
ERIBR	1.09	0.24	0.17	(0.43)	1.04	(1.40)	2.38	(1.89)	15.13
FIA1S	1.66	(0.08)	0.00	1.36	0.00	0.00	4.07	(3.28)	11.50
FORTUM	1.13	(0.01)	(0.01)	0.11	1.42	(1.29)	2.57	(2.39)	7.78
NESTE	2.00	(0.30)	0.00	(1.02)	0.00	0.00	3.23	(4.63)	10.55

Be your own money manager

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

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

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