Nokia Correlations

NOKN Stock

MXN 95.00 4.99 5.54%

The current 90-days correlation between Nokia and Cisco Systems is -0.12 (i.e., Good diversification). The correlation of Nokia 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.

Nokia Correlation With Market

Significant diversification

The correlation between Nokia and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nokia and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nokia Stock

0.62	LABB	Genomma Lab Internacional	Pair Corr
0.62	TSMN	Taiwan Semiconductor	Pair Corr
0.66	CTSH	Cognizant Technology	Pair Corr

Related Correlations Analysis

	CSCO	NOKN	UTSI	COF	MNST	T	HON	HERDEZ	BA
CSCO		0.47	0.5	0.88	0.85	0.92	0.93	0.01	0.43	CSCO
NOKN	0.47		0.28	0.27	0.46	0.32	0.31	-0.05	0.27	NOKN
UTSI	0.5	0.28		0.3	0.25	0.33	0.44	0.14	0.12	UTSI
COF	0.88	0.27	0.3		0.71	0.93	0.86	-0.01	0.46	COF
MNST	0.85	0.46	0.25	0.71		0.79	0.77	-0.21	0.18	MNST
T	0.92	0.32	0.33	0.93	0.79		0.86	0.0	0.42	T
HON	0.93	0.31	0.44	0.86	0.77	0.86		0.01	0.42	HON
HERDEZ	0.01	-0.05	0.14	-0.01	-0.21	0.0	0.01		0.37	HERDEZ
BA	0.43	0.27	0.12	0.46	0.18	0.42	0.42	0.37		BA
	CSCO	NOKN	UTSI	COF	MNST	T	HON	HERDEZ	BA

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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

HON	+ 0.93	CSCO
T	+ 0.93	COF
T	+ 0.92	CSCO
COF	+ 0.88	CSCO
HON	+ 0.86	COF
HON	+ 0.86	T

High negative correlations

HERDEZ	- 0.21	MNST
HERDEZ	- 0.05	NOKN
HERDEZ	- 0.01	COF
HERDEZ	- 0.0	T

Risk-Adjusted Indicators

There is a big difference between Nokia Stock performing well and Nokia 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 Nokia'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
CSCO	1.02	0.25	0.16	1.71	0.97	(1.24)	2.62	(2.03)	7.78
NOKN	1.53	0.17	0.03	1.69	2.16	(2.99)	5.54	(6.12)	13.82
UTSI	0.34	0.12	0.00	(0.56)	0.00	0.00	0.00	0.00	14.48
COF	1.11	0.44	0.00	3.24	0.00	0.00	2.41	(0.31)	18.93
MNST	0.84	0.08	0.02	0.41	1.27	(1.71)	2.67	(2.04)	10.81
T	1.22	0.13	0.07	0.76	1.46	(1.22)	2.55	(2.75)	8.00
HON	1.03	0.24	0.12	1.04	0.98	(1.95)	3.05	(1.98)	9.48
HERDEZ	1.26	0.05	0.02	(0.26)	1.43	(1.49)	3.01	(2.72)	10.29
BA	1.64	0.31	0.14	(0.67)	1.73	(1.84)	4.06	(3.21)	8.46

Be your own money manager

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

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

Nishant Batra	Chief Officer	Profile
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