Telenor ASA Correlations

TELNF Stock

USD 11.24 0.43 3.98%

The current 90-days correlation between Telenor ASA and Orange SA ADR is -0.02 (i.e., Good diversification). The correlation of Telenor 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.

Telenor ASA Correlation With Market

Average diversification

The correlation between Telenor ASA and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telenor ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Telenor 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 Telenor 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 Telenor 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 Telenor ASA to buy it.

Moving together with Telenor Pink Sheet

0.77	CMCSA	Comcast Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.67	DTEGY	Deutsche Telekom	Pair Corr
0.71	KB	KB Financial Group	Pair Corr
0.86	SHG	Shinhan Financial	Pair Corr

Moving against Telenor Pink Sheet

0.74	MZHOF	Mizuho Financial	Pair Corr
0.65	MFG	Mizuho Financial	Pair Corr
0.65	JPHLF	Japan Post Holdings	Pair Corr
0.6	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.58	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.57	SMFNF	Sumitomo Mitsui Financial	Pair Corr
0.56	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.52	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.86	SMWB	SimilarWeb	Pair Corr
0.86	AAPL	Apple Inc	Pair Corr
0.84	PAM	Pampa Energia SA	Pair Corr
0.77	VRSN	VeriSign	Pair Corr
0.73	AI	C3 Ai Inc	Pair Corr
0.66	SQ	Block Inc	Pair Corr
0.64	PRMRF	Paramount Resources	Pair Corr
0.57	OSOL	Osprey Solana Trust	Pair Corr
0.56	TSM	Taiwan Semiconductor Earnings Call This Week	Pair Corr
0.51	COST	Costco Wholesale Corp	Pair Corr
0.38	DSGN	Design Therapeutics	Pair Corr
0.34	MCK	McKesson	Pair Corr
0.83	CME	CME Group Sell-off Trend	Pair Corr
0.79	PSTG	Pure Storage	Pair Corr
0.75	TNXP	Tonix Pharmaceuticals	Pair Corr
0.72	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.7	REFI	Chicago Atlantic Real	Pair Corr
0.68	CRWD	Crowdstrike Holdings	Pair Corr

Related Correlations Analysis

	ORAN	T	VZ	TLSNY	MTNOY	PTXKY	VDMCY	KKPNY	SCMWY	MYTAY
ORAN		-0.75	0.47	-0.55	0.37	0.26	0.67	0.29	0.8	-0.83	ORAN
T	-0.75		0.0	0.66	-0.52	-0.18	-0.49	-0.5	-0.72	0.78	T
VZ	0.47	0.0		-0.19	0.02	0.16	0.47	-0.51	0.47	-0.36	VZ
TLSNY	-0.55	0.66	-0.19		-0.3	0.13	-0.47	0.17	-0.6	0.67	TLSNY
MTNOY	0.37	-0.52	0.02	-0.3		0.43	0.61	0.39	0.62	-0.41	MTNOY
PTXKY	0.26	-0.18	0.16	0.13	0.43		0.44	0.09	0.36	-0.15	PTXKY
VDMCY	0.67	-0.49	0.47	-0.47	0.61	0.44		0.1	0.87	-0.65	VDMCY
KKPNY	0.29	-0.5	-0.51	0.17	0.39	0.09	0.1		0.22	-0.32	KKPNY
SCMWY	0.8	-0.72	0.47	-0.6	0.62	0.36	0.87	0.22		-0.84	SCMWY
MYTAY	-0.83	0.78	-0.36	0.67	-0.41	-0.15	-0.65	-0.32	-0.84		MYTAY
	ORAN	T	VZ	TLSNY	MTNOY	PTXKY	VDMCY	KKPNY	SCMWY	MYTAY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SCMWY	+ 0.87	VDMCY
SCMWY	+ 0.8	ORAN
MYTAY	+ 0.78	T
VDMCY	+ 0.67	ORAN
MYTAY	+ 0.67	TLSNY
TLSNY	+ 0.66	T

High negative correlations

MYTAY	- 0.84	SCMWY
MYTAY	- 0.83	ORAN
T	- 0.75	ORAN
SCMWY	- 0.72	T
MYTAY	- 0.65	VDMCY
SCMWY	- 0.6	TLSNY

Risk-Adjusted Indicators

There is a big difference between Telenor Pink Sheet performing well and Telenor 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 Telenor 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
ORAN	0.92	(0.30)	0.00	(18.22)	0.00	0.00	1.57	(2.18)	4.75
T	0.97	0.04	0.03	0.10	1.20	(1.02)	1.91	(1.97)	7.96
VZ	0.88	(0.17)	0.00	(0.47)	0.00	0.00	1.89	(2.33)	6.56
TLSNY	1.27	(0.06)	0.00	0.66	0.00	0.00	1.98	(3.73)	6.14
MTNOY	1.83	(0.03)	0.00	0.09	0.00	0.00	3.60	(3.46)	17.82
PTXKY	3.26	(0.03)	0.00	0.07	0.00	0.00	7.92	(6.69)	27.26
VDMCY	1.55	(0.20)	0.00	(0.58)	0.00	0.00	2.83	(3.45)	10.10
KKPNY	0.95	0.25	0.16	(31.65)	1.24	(1.08)	2.62	(2.35)	6.64
SCMWY	0.85	(0.19)	0.00	(1.20)	0.00	0.00	1.66	(1.73)	6.22
MYTAY	1.84	0.18	0.06	(2.24)	2.50	(2.08)	4.04	(5.28)	14.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in Telenor ASA 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 Crypto Correlations Now

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins

All Next

Launch Module

Telenor ASA Corporate Management

Tone Bachke	Ex CFO	Profile
Jorgen Rostrup	Ex Bus	Profile
Jan Engebretsen	Chief Research	Profile
Siri Berge	General Counsel	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