Norva24 Group Correlations
| NORVA Stock | 36.20 0.05 0.14% |
The current 90-days correlation between Norva24 Group AB and Fasadgruppen Group AB is 0.15 (i.e., Average diversification). The correlation of Norva24 Group 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.
Norva24 Group Correlation With Market
Very good diversification
The correlation between Norva24 Group AB and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norva24 Group AB and DJI in the same portfolio, assuming nothing else is changed.
Norva24 |
The ability to find closely correlated positions to Norva24 Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Norva24 Group 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 Norva24 Group - 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 Norva24 Group AB to buy it.
Moving together with Norva24 Stock
Moving against Norva24 Stock
| 0.69 | SES | Scandinavian Enviro | PairCorr |
| 0.43 | KOLL | Kollect on Demand | PairCorr |
| 0.35 | FLEXQ | FlexQube AB | PairCorr |
Related Correlations Analysis
| 0.77 | -0.86 | -0.55 | 0.79 | FG | ||
| 0.77 | -0.79 | -0.56 | 0.74 | GREEN | ||
| -0.86 | -0.79 | 0.55 | -0.67 | VOLO | ||
| -0.55 | -0.56 | 0.55 | -0.37 | INSTAL | ||
| 0.79 | 0.74 | -0.67 | -0.37 | SDIP-B | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Norva24 Stock performing well and Norva24 Group 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 Norva24 Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FG | 2.62 | (1.11) | 0.00 | 1.92 | 0.00 | 3.84 | 42.54 | |||
| GREEN | 1.03 | (0.12) | 0.00 | (1.74) | 0.00 | 2.73 | 9.48 | |||
| VOLO | 1.92 | 0.31 | 0.15 | 0.77 | 2.06 | 4.17 | 12.12 | |||
| INSTAL | 2.12 | (0.08) | 0.00 | (8.11) | 0.00 | 4.49 | 17.11 | |||
| SDIP-B | 1.48 | (0.20) | 0.00 | (1.11) | 0.00 | 3.57 | 10.89 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Norva24 Group 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?
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Piotroski F ScoreGet Piotroski F Score based on the binary analysis strategy of nine different fundamentals |
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Norva24 Group Corporate Management
Elected by the shareholders, the Norva24 Group's board of directors comprises two types of representatives: Norva24 Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Norva24. The board's role is to monitor Norva24 Group's management team and ensure that shareholders' interests are well served. Norva24 Group'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, Norva24 Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Tim Normann | Chief Denmark | Profile | |
| Hakan Wessel | Chief Sweden | Profile | |
| Bertolt Gartner | Chief Germany | Profile | |
| Stein Yndestad | Group Officer | Profile | |
| Henrik Damgaard | Group Officer | Profile | |
| Tore Hansen | Chief Norway | Profile | |
| Sture Stolen | Head IR | Profile |