Norsk Hydro Correlations
| NHYDYDelisted Stock | USD 8.01 0.13 1.60% |
The current 90-days correlation between Norsk Hydro ASA and Aluminum is 0.34 (i.e., Weak diversification). The correlation of Norsk Hydro 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.
Norsk Hydro Correlation With Market
Modest diversification
The correlation between Norsk Hydro ASA and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norsk Hydro ASA and DJI in the same portfolio, assuming nothing else is changed.
Norsk |
The ability to find closely correlated positions to Norsk Hydro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Norsk Hydro 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 Norsk Hydro - 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 Norsk Hydro ASA to buy it.
Moving together with Norsk OTC Stock
| 0.72 | EP | Empire Petroleum Corp | PairCorr |
| 0.61 | CRC | California Resources Corp | PairCorr |
| 0.62 | DEC | Diversified Energy | PairCorr |
Moving against Norsk OTC Stock
| 0.47 | BRN | Barnwell Industries | PairCorr |
| 0.36 | BRY | Berry Petroleum Corp | PairCorr |
| 0.32 | APA | APA Corporation | PairCorr |
| 0.31 | EGY | Vaalco Energy | PairCorr |
| 0.51 | PED | PEDEVCO Corp | PairCorr |
| 0.49 | VRN | Veren Inc Symbol Change | PairCorr |
Related Correlations Analysis
| 0.89 | 0.74 | 0.69 | 0.73 | -0.67 | KALU | ||
| 0.89 | 0.65 | 0.87 | 0.92 | -0.79 | CENX | ||
| 0.74 | 0.65 | 0.6 | 0.47 | -0.53 | ACHHY | ||
| 0.69 | 0.87 | 0.6 | 0.82 | -0.74 | CHHQF | ||
| 0.73 | 0.92 | 0.47 | 0.82 | -0.76 | AA | ||
| -0.67 | -0.79 | -0.53 | -0.74 | -0.76 | CSTM | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between Norsk OTC Stock performing well and Norsk Hydro OTC Stock 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 Norsk Hydro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KALU | 1.68 | (0.08) | 0.02 | 0.08 | 2.04 | 2.71 | 14.56 | |||
| CENX | 2.91 | 0.43 | 0.17 | 0.31 | 2.71 | 6.41 | 24.39 | |||
| ACHHY | 3.66 | 0.46 | 0.10 | 0.69 | 3.75 | 11.44 | 22.08 | |||
| CHHQF | 2.84 | 1.67 | 0.00 | (1.02) | 0.00 | 3.88 | 47.66 | |||
| AA | 2.48 | 0.26 | 0.12 | 0.24 | 2.68 | 6.10 | 14.99 | |||
| CSTM | 2.34 | (0.65) | 0.00 | (0.18) | 0.00 | 4.76 | 33.72 |
Norsk Hydro Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Norsk Hydro otc stock to make a market-neutral strategy. Peer analysis of Norsk Hydro could also be used in its relative valuation, which is a method of valuing Norsk Hydro by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Norsk Hydro Corporate Management
Elected by the shareholders, the Norsk Hydro's board of directors comprises two types of representatives: Norsk Hydro inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Norsk. The board's role is to monitor Norsk Hydro's management team and ensure that shareholders' interests are well served. Norsk Hydro'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, Norsk Hydro's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Arvid Moss | Executive VP of Energy and Corporate Bus. Devel. and Member of Corporate Management Board | Profile | |
| Trond Christophersen | Member Devel | Profile | |
| Paul Warton | Exec Board | Profile | |
| Therese Holm | Exec Board | Profile |
Still Interested in Norsk Hydro ASA?
Investing in delisted otcs can be risky, as the otc stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.