Hofseth Biocare Correlations
| HBC Stock | NOK 1.30 0.01 0.76% |
The current 90-days correlation between Hofseth Biocare ASA and Bergenbio ASA is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hofseth Biocare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hofseth Biocare ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Hofseth Biocare Correlation With Market
Good diversification
The correlation between Hofseth Biocare ASA and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hofseth Biocare ASA and DJI in the same portfolio, assuming nothing else is changed.
Hofseth |
The ability to find closely correlated positions to Hofseth Biocare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hofseth Biocare 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 Hofseth Biocare - 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 Hofseth Biocare ASA to buy it.
Moving together with Hofseth Stock
| 0.75 | AZT | Arcticzymes Technologies | PairCorr |
| 0.82 | ABS | Arctic Bioscience | PairCorr |
| 0.9 | SOFTX | SoftOx Solutions | PairCorr |
Moving against Hofseth Stock
| 0.87 | NHY | Norsk Hydro ASA | PairCorr |
| 0.83 | SRBNK | Sparebank 1 SR | PairCorr |
| 0.81 | MING | Sparebank 1 SMN | PairCorr |
| 0.78 | DNB | DnB ASA | PairCorr |
| 0.75 | STB | Storebrand ASA | PairCorr |
| 0.72 | CIRCA | Circa Group AS | PairCorr |
| 0.65 | SOR | Sparebanken Sor | PairCorr |
| 0.62 | SPOL | SpareBank 1 stlandet | PairCorr |
| 0.59 | SVEG | Sparebanken Vest | PairCorr |
| 0.34 | TEL | Telenor ASA | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Hofseth Stock performing well and Hofseth Biocare 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 Hofseth Biocare'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PCIB | 3.94 | (0.17) | 0.00 | (0.31) | 0.00 | 6.40 | 55.52 | |||
| BGBIO | 5.26 | 0.22 | 0.04 | 0.42 | 4.69 | 15.00 | 51.26 | |||
| NAVA | 1.73 | (0.16) | 0.00 | (2.66) | 0.00 | 2.99 | 19.87 | |||
| GSF | 1.98 | 0.44 | 0.07 | (0.31) | 2.47 | 4.83 | 21.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hofseth Biocare 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?
Run Economic Indicators Now
Economic IndicatorsTop statistical indicators that provide insights into how an economy is performing |
| All Next | Launch Module |
Hofseth Biocare Corporate Management
Elected by the shareholders, the Hofseth Biocare's board of directors comprises two types of representatives: Hofseth Biocare inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hofseth. The board's role is to monitor Hofseth Biocare's management team and ensure that shareholders' interests are well served. Hofseth Biocare'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, Hofseth Biocare's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Angelika Florvaag | Chief Officer | Profile | |
| Olav Flaten | Exec | Profile | |
| Tanja Schaffer | EVP GmbH | Profile | |
| Jon Odegard | Chief Officer | Profile | |
| Matt Mixter | Managing America | Profile | |
| Bomi Framroze | Chief Officer | Profile | |
| James Berger | Chief Officer | Profile |