Dno ASA Correlations

DNO Stock

EUR 13.19 0.13 0.98%

The current 90-days correlation between Dno ASA and COVIVIO HOTELS INH is -0.1 (i.e., Good diversification). The correlation of Dno 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.

Dno ASA Correlation With Market

Very weak diversification

The correlation between Dno ASA and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dno ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Dno 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 Dno 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 Dno 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 Dno ASA to buy it.

Moving together with Dno Stock

0.96	DNOA	DENSO P ADR	Pair Corr
0.63	MGA	Magna International	Pair Corr

Moving against Dno Stock

0.65	RFC4	COPAUR MINERALS INC	Pair Corr
0.64	D7A	Aptiv PLC	Pair Corr
0.45	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.35	SG9	Strix Group Plc	Pair Corr

Related Correlations Analysis

	9FM	6IC	MRL	7RD	ISHA	HIP	B7O	1HTA
9FM		0.07	0.11	-0.11	0.02	-0.3	0.28	-0.13	9FM
6IC	0.07		0.79	0.63	0.26	0.38	0.73	0.59	6IC
MRL	0.11	0.79		0.72	0.47	0.38	0.77	0.67	MRL
7RD	-0.11	0.63	0.72		0.68	0.57	0.57	0.77	7RD
ISHA	0.02	0.26	0.47	0.68		0.58	0.26	0.55	ISHA
HIP	-0.3	0.38	0.38	0.57	0.58		0.27	0.75	HIP
B7O	0.28	0.73	0.77	0.57	0.26	0.27		0.53	B7O
1HTA	-0.13	0.59	0.67	0.77	0.55	0.75	0.53		1HTA
	9FM	6IC	MRL	7RD	ISHA	HIP	B7O	1HTA

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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

MRL	+ 0.79	6IC
B7O	+ 0.77	MRL
1HTA	+ 0.77	7RD
1HTA	+ 0.75	HIP
B7O	+ 0.73	6IC
7RD	+ 0.72	MRL

High negative correlations

HIP	- 0.3	9FM
1HTA	- 0.13	9FM
7RD	- 0.11	9FM

Risk-Adjusted Indicators

There is a big difference between Dno Stock performing well and Dno 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 Dno 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
9FM	0.82	0.07	(0.06)	(0.12)	1.24	(0.97)	1.68	(1.60)	9.22
6IC	2.24	0.22	0.07	0.40	2.58	(2.43)	4.57	(4.50)	22.12
MRL	1.07	0.48	0.23	(0.89)	0.00	(2.79)	1.15	(0.90)	28.45
7RD	1.64	0.17	0.04	0.43	1.66	(2.50)	4.24	(3.39)	11.52
ISHA	1.73	0.10	(0.02)	(0.58)	2.23	(2.29)	4.22	(4.19)	12.64
HIP	1.43	0.17	0.02	6.40	1.31	(2.15)	3.20	(2.27)	10.63
B7O	2.22	0.55	0.09	12.72	1.74	(6.68)	4.35	(4.00)	38.72
1HTA	1.41	0.09	0.01	0.32	1.94	(1.42)	2.87	(3.33)	10.40

Be your own money manager

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

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Dno ASA Corporate Management

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

Yoshifumi Kato	Head CTO	Profile
Yukihiro Shinohara	Chief Pres	Profile
Koji Arima	Pres CEO	Profile
Kenichiro Ito	Sr Officer	Profile
Kazuaki Fujitani	Solution Group	Profile
Shoji Tsuzuki	Head Officer	Profile
Katsuhisa Shimokawa	Head Officer	Profile

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