Nnit AS Correlations

NNIT Stock

DKK 74.50 0.50 0.67%

The current 90-days correlation between Nnit AS and Vestjysk Bank AS is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nnit AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nnit AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nnit AS Correlation With Market

Significant diversification

The correlation between Nnit AS and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nnit AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Nnit Stock

0.9	CARL-B	Carlsberg AS	Pair Corr
0.89	ROCK-B	ROCKWOOL International	Pair Corr
0.88	ROCK-A	ROCKWOOL International	Pair Corr
0.86	SYDB	Sydbank AS	Pair Corr
0.85	ISS	ISS AS	Pair Corr
0.84	LOLB	Lollands Bank	Pair Corr
0.79	DANSKE	Danske Bank AS	Pair Corr
0.79	SHIGVAKL	Stonehenge Globale	Pair Corr
0.76	JYSK	Jyske Bank AS	Pair Corr
0.76	BAIKHYORLA	BankInv Kort HY	Pair Corr
0.72	ERRIA	Erria AS	Pair Corr
0.69	CARL-A	Carlsberg AS	Pair Corr
0.69	DKIEUADKKH	Danske Invest Europa	Pair Corr
0.62	EGNETY	EgnsINVEST Ejendomme	Pair Corr
0.61	SKIVEK	SKAGEN Vekst A	Pair Corr
0.6	KLEE-B	Brd Klee AS	Pair Corr
0.59	DKIGHYB	Investeringsforeningen	Pair Corr
0.52	NRDF	Nordfyns Bank AS	Pair Corr
0.51	RTX	RTX AS	Pair Corr
0.49	WEILPGVF	Wealth Invest LindeP	Pair Corr
0.48	KBHL	Copenhagen Airports	Pair Corr
0.41	YOYO	Orderyoyo AS Earnings Call Tomorrow	Pair Corr
0.34	CONFRZ	Conferize AS	Pair Corr
0.88	HH	HH International	Pair Corr
0.87	LASP	Laan Spar Bank	Pair Corr
0.87	DKIKI	Danske Invest Kina	Pair Corr
0.86	KRE	Kreditbanken AS	Pair Corr
0.85	MAERSK-A	AP Mller	Pair Corr
0.85	RBREW	Royal Unibrew AS	Pair Corr
0.84	SCHO	Schouw	Pair Corr
0.84	ALMB	Alm Brand	Pair Corr
0.82	FED	Fast Ejendom	Pair Corr
0.81	NDA-DK	Nordea Bank Abp	Pair Corr
0.79	ALEFRM	Alefarm Brewing AS	Pair Corr

Related Correlations Analysis

	MNBA	VJBA	FOM	KRE	PARKEN	SKJE	BAIKHYORLA
MNBA		0.78	-0.78	0.73	0.72	0.42	0.73	MNBA
VJBA	0.78		-0.82	0.72	0.71	0.5	0.77	VJBA
FOM	-0.78	-0.82		-0.8	-0.69	-0.42	-0.83	FOM
KRE	0.73	0.72	-0.8		0.51	0.38	0.88	KRE
PARKEN	0.72	0.71	-0.69	0.51		0.37	0.53	PARKEN
SKJE	0.42	0.5	-0.42	0.38	0.37		0.23	SKJE
BAIKHYORLA	0.73	0.77	-0.83	0.88	0.53	0.23		BAIKHYORLA
	MNBA	VJBA	FOM	KRE	PARKEN	SKJE	BAIKHYORLA

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

BAIKHYORLA	+ 0.88	KRE
VJBA	+ 0.78	MNBA
BAIKHYORLA	+ 0.77	VJBA
KRE	+ 0.73	MNBA
BAIKHYORLA	+ 0.73	MNBA
PARKEN	+ 0.72	MNBA

High negative correlations

BAIKHYORLA	- 0.83	FOM
FOM	- 0.82	VJBA
KRE	- 0.8	FOM
FOM	- 0.78	MNBA
PARKEN	- 0.69	FOM
SKJE	- 0.42	FOM

Risk-Adjusted Indicators

There is a big difference between Nnit Stock performing well and Nnit AS 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 Nnit AS'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
MNBA	1.17	0.18	0.15	1.31	1.22	(1.52)	2.65	(1.69)	9.78
VJBA	0.77	0.17	0.13	0.40	1.44	(0.91)	1.89	(0.90)	12.02
FOM	3.02	(0.50)	0.00	8.06	0.00	0.00	6.25	(5.46)	19.67
KRE	1.17	0.35	0.25	(1.65)	1.00	(1.76)	3.51	(1.87)	10.52
PARKEN	1.15	0.15	0.14	(11.42)	1.51	(1.28)	2.36	(2.55)	15.34
SKJE	1.63	0.39	0.30	(1.56)	1.31	(2.15)	3.91	(2.45)	13.81
BAIKHYORLA	0.19	0.00	0.34	(0.20)	0.22	(0.21)	0.48	(0.48)	1.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nnit AS 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 Commodity Channel Now

Commodity Channel

Use Commodity Channel Index to analyze current equity momentum

All Next

Launch Module

Nnit AS Corporate Management

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

Pernille Fabricius	Transformation Strategy	Profile
Camilla Mohl	Communications People	Profile
Carsten Ringius	Ex CFO	Profile
Kasper Andersen	VP Solutions	Profile
Par Fors	Pres CEO	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC