Edda Wind Correlations

EWIND Stock

17.50 0.20 1.16%

The current 90-days correlation between Edda Wind ASA and Napatech AS is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edda Wind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edda Wind ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

Moving together with Edda Stock

0.64	SUBC	Subsea 7 SA	Pair Corr
0.68	TGS	TGS NOPEC Geophysical	Pair Corr
0.7	SOFF	Solstad Offsho	Pair Corr

Moving against Edda Stock

0.85	PARB	Pareto Bank ASA	Pair Corr
0.8	QEC	Questerre Energy	Pair Corr
0.78	PPG	Pioneer Property	Pair Corr
0.56	AKER	Aker ASA	Pair Corr
0.54	SDSD	SD Standard Drilling	Pair Corr
0.47	KMCP	Kmc Properties ASA	Pair Corr
0.34	TRE	Treasure ASA	Pair Corr

Related Correlations Analysis

	MOBA	SPOL	NAPA	MELG	NISB	BWO	KRAB	MING
MOBA		0.38	-0.49	0.42	0.25	-0.06	0.01	0.33	MOBA
SPOL	0.38		-0.4	0.63	0.56	0.57	-0.14	0.94	SPOL
NAPA	-0.49	-0.4		-0.71	-0.76	0.3	-0.25	-0.53	NAPA
MELG	0.42	0.63	-0.71		0.83	0.24	0.35	0.75	MELG
NISB	0.25	0.56	-0.76	0.83		0.17	0.4	0.69	NISB
BWO	-0.06	0.57	0.3	0.24	0.17		-0.11	0.49	BWO
KRAB	0.01	-0.14	-0.25	0.35	0.4	-0.11		-0.04	KRAB
MING	0.33	0.94	-0.53	0.75	0.69	0.49	-0.04		MING
	MOBA	SPOL	NAPA	MELG	NISB	BWO	KRAB	MING

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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

MING	+ 0.94	SPOL
NISB	+ 0.83	MELG
MING	+ 0.75	MELG
MING	+ 0.69	NISB
MELG	+ 0.63	SPOL
BWO	+ 0.57	SPOL

High negative correlations

NISB	- 0.76	NAPA
MELG	- 0.71	NAPA
MING	- 0.53	NAPA
NAPA	- 0.49	MOBA
NAPA	- 0.4	SPOL
KRAB	- 0.25	NAPA

Risk-Adjusted Indicators

There is a big difference between Edda Stock performing well and Edda Wind 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 Edda Wind'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
MOBA	1.47	0.15	0.14	(1.15)	1.53	(1.90)	6.71	(2.36)	10.88
SPOL	0.75	0.19	0.26	0.80	0.73	(0.79)	1.98	(1.52)	4.06
NAPA	2.46	(0.22)	0.00	(0.41)	0.00	0.00	4.35	(6.72)	25.74
MELG	0.78	0.16	0.21	0.95	0.63	(1.12)	2.42	(1.63)	4.87
NISB	0.85	0.17	0.17	(1.22)	0.69	(1.94)	3.04	(1.68)	8.37
BWO	1.44	0.21	0.14	0.66	1.58	(1.78)	3.97	(2.72)	11.44
KRAB	1.18	0.01	0.03	0.14	1.60	(1.87)	2.94	(3.95)	9.25
MING	0.71	0.20	0.27	0.94	0.69	(0.79)	1.74	(1.88)	4.21

Be your own money manager

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

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

Tom Austrheim	Chief Officer	Profile
Jan Lodden	Chief Officer	Profile
Kenneth Walland	Chief Officer	Profile
Hakon Vevang	Chief Officer	Profile

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