Nel ASA Correlations
| NLLSY Stock | USD 9.40 0.10 1.05% |
The current 90-days correlation between Nel ASA and Weir Group PLC is -0.03 (i.e., Good diversification). The correlation of Nel 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Nel ASA Correlation With Market
Good diversification
The correlation between Nel ASA and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nel ASA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Nel 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 Nel 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 Nel 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 Nel ASA to buy it.
Moving together with Nel Pink Sheet
| 0.68 | BOWL | Bowlero Corp Symbol Change | PairCorr |
Moving against Nel Pink Sheet
| 0.6 | GE | GE Aerospace | PairCorr |
| 0.49 | FANUF | Fanuc | PairCorr |
| 0.47 | GOTRF | Goliath Resources | PairCorr |
| 0.42 | COOTW | Australian Oilseeds | PairCorr |
| 0.38 | STTDF | Standard Uranium Earnings Call This Week | PairCorr |
| 0.37 | BLTH | American Battery Mat | PairCorr |
| 0.34 | BTT | Blackrock Municipal | PairCorr |
| 0.31 | MVST | Microvast Holdings Aggressive Push | PairCorr |
| 0.68 | FATBP | FAT Brands | PairCorr |
| 0.59 | GLBXF | Globex Mining Enterprises | PairCorr |
| 0.59 | TD | Toronto Dominion Bank | PairCorr |
| 0.57 | CIMO | Chimera Investment | PairCorr |
| 0.54 | HGBL | Heritage Global | PairCorr |
| 0.53 | HERF | Red Oak Hereford | PairCorr |
| 0.53 | CWPS | Conwest Assoc Part | PairCorr |
| 0.53 | DVRNF | Deveron Corp | PairCorr |
| 0.48 | 037833EE6 | APPLE INC | 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
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Risk-Adjusted Indicators
There is a big difference between Nel Pink Sheet performing well and Nel 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 Nel 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TPCFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WEGRY | 1.39 | 0.08 | 0.08 | 2.12 | 1.59 | 3.17 | 8.33 | |||
| ROSN | 7.05 | 2.33 | 0.20 | 1.39 | 6.54 | 21.15 | 45.27 | |||
| GTECW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NLLSF | 5.38 | 0.52 | 0.07 | (2.97) | 6.37 | 10.00 | 52.86 | |||
| NXHSF | 5.22 | 1.50 | 0.09 | 3.14 | 5.87 | 22.22 | 77.50 | |||
| DFKCY | 1.67 | 0.20 | 0.16 | (1.72) | 1.72 | 2.80 | 16.12 | |||
| ITMPF | 3.70 | (0.11) | 0.00 | (0.27) | 0.00 | 7.14 | 17.81 | |||
| CRAWA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CGRN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
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Nel ASA Corporate Management
| Jorn Rosenlund | Manager of Nel Hydrogen Fueling | Profile | |
| Esa Laukkanen | Chief Officer | Profile | |
| Filip Smeets | Chief Electrolyser | Profile | |
| Hans Hide | Chief Electrolyser | Profile | |
| Stein Erdal | Sr Counsel | Profile | |
| Robert Borin | VP Division | Profile | |
| Hakon Volldal | Chief Officer | Profile |