Ferronordic Correlations

FNM Stock

SEK 58.10 3.00 4.91%

The current 90-days correlation between Ferronordic AB and Lundin Mining is 0.03 (i.e., Significant diversification). The correlation of Ferronordic 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ferronordic Correlation With Market

Significant diversification

The correlation between Ferronordic AB and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ferronordic AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Ferronordic Stock

0.76	SHB-B	Svenska Handelsbanken	Pair Corr
0.74	SHB-A	Svenska Handelsbanken	Pair Corr
0.71	VOLV-B	AB Volvo	Pair Corr
0.67	VOLV-A	AB Volvo	Pair Corr
0.62	ARION-SDB	Arion banki hf	Pair Corr

Related Correlations Analysis

	TRAD	247	KINV-A	LUMI	USWE	MAVEN	FIL	CTM
TRAD		0.47	-0.22	0.3	0.76	-0.26	0.55	-0.67	TRAD
247	0.47		-0.46	0.52	0.56	-0.05	0.7	-0.73	247
KINV-A	-0.22	-0.46		0.23	-0.35	0.1	-0.15	0.31	KINV-A
LUMI	0.3	0.52	0.23		0.31	-0.17	0.83	-0.63	LUMI
USWE	0.76	0.56	-0.35	0.31		-0.58	0.7	-0.87	USWE
MAVEN	-0.26	-0.05	0.1	-0.17	-0.58		-0.43	0.54	MAVEN
FIL	0.55	0.7	-0.15	0.83	0.7	-0.43		-0.9	FIL
CTM	-0.67	-0.73	0.31	-0.63	-0.87	0.54	-0.9		CTM
	TRAD	247	KINV-A	LUMI	USWE	MAVEN	FIL	CTM

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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

FIL	+ 0.83	LUMI
USWE	+ 0.76	TRAD
FIL	+ 0.7	247
FIL	+ 0.7	USWE
USWE	+ 0.56	247
FIL	+ 0.55	TRAD

High negative correlations

CTM	- 0.9	FIL
CTM	- 0.87	USWE
CTM	- 0.73	247
CTM	- 0.67	TRAD
CTM	- 0.63	LUMI
MAVEN	- 0.58	USWE

Risk-Adjusted Indicators

There is a big difference between Ferronordic Stock performing well and Ferronordic 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 Ferronordic'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
TRAD	1.34	(0.02)	0.00	0.21	0.00	0.00	2.64	(3.04)	12.67
247	1.59	0.28	0.18	0.45	0.97	(2.73)	2.57	(2.31)	32.03
KINV-A	1.53	(0.01)	0.00	0.20	0.00	0.00	3.54	(2.93)	12.93
LUMI	1.98	0.26	0.04	(0.74)	2.19	(2.37)	5.18	(3.37)	13.28
USWE	2.02	0.52	0.15	(1.05)	1.55	(3.32)	3.76	(2.76)	23.29
MAVEN	2.40	(0.13)	0.00	0.30	0.00	0.00	5.91	(4.07)	13.44
FIL	0.78	0.14	(0.02)	(0.37)	0.77	(1.06)	1.51	(1.36)	5.47
CTM	2.75	(0.69)	0.00	1.70	0.00	0.00	3.35	(6.33)	23.98

Be your own money manager

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

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

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