TietoEVRY Oyj Correlations

TIETO Stock

NOK 234.80 14.20 6.44%

The current 90-days correlation between TietoEVRY Oyj and Norwegian Air Shuttle is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TietoEVRY Oyj moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TietoEVRY Oyj moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TietoEVRY Oyj Correlation With Market

Good diversification

The correlation between TietoEVRY Oyj 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 TietoEVRY Oyj and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TietoEVRY Stock

0.75	WSTEP	Webstep ASA	Pair Corr
0.62	PPG	Pioneer Property	Pair Corr

Moving against TietoEVRY Stock

0.62	CRAYN	Crayon Group Holding	Pair Corr
0.41	RIVER	River Tech plc	Pair Corr
0.4	BOUV	Bouvet	Pair Corr
0.4	PRS	Prosafe SE	Pair Corr
0.37	GIGA	Gigante Salmon AS	Pair Corr

Related Correlations Analysis

	SOGN	NISB	SKUE	NAS	MELG	HELG	LSG	CLOUD
SOGN		-0.62	-0.37	-0.44	-0.51	0.01	0.66	0.53	SOGN
NISB	-0.62		0.83	0.53	0.74	0.44	-0.24	-0.82	NISB
SKUE	-0.37	0.83		0.59	0.88	0.77	0.1	-0.78	SKUE
NAS	-0.44	0.53	0.59		0.62	0.4	0.0	-0.35	NAS
MELG	-0.51	0.74	0.88	0.62		0.7	0.02	-0.76	MELG
HELG	0.01	0.44	0.77	0.4	0.7		0.48	-0.49	HELG
LSG	0.66	-0.24	0.1	0.0	0.02	0.48		0.2	LSG
CLOUD	0.53	-0.82	-0.78	-0.35	-0.76	-0.49	0.2		CLOUD
	SOGN	NISB	SKUE	NAS	MELG	HELG	LSG	CLOUD

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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

MELG	+ 0.88	SKUE
SKUE	+ 0.83	NISB
HELG	+ 0.77	SKUE
MELG	+ 0.74	NISB
HELG	+ 0.7	MELG
LSG	+ 0.66	SOGN

High negative correlations

CLOUD	- 0.82	NISB
CLOUD	- 0.78	SKUE
CLOUD	- 0.76	MELG
NISB	- 0.62	SOGN
MELG	- 0.51	SOGN
CLOUD	- 0.49	HELG

Risk-Adjusted Indicators

There is a big difference between TietoEVRY Stock performing well and TietoEVRY Oyj 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 TietoEVRY Oyj'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
SOGN	2.45	0.09	0.05	0.39	2.83	(2.85)	6.07	(5.39)	13.53
NISB	1.00	0.28	0.25	(0.91)	0.60	(2.32)	3.10	(1.42)	8.37
SKUE	0.92	0.45	0.49	(9.23)	0.30	(1.12)	3.04	(1.44)	5.99
NAS	2.02	0.14	0.07	0.17	2.34	(2.20)	4.50	(3.45)	13.27
MELG	0.85	0.06	0.06	0.14	1.37	(1.07)	2.13	(1.70)	4.62
HELG	1.51	0.27	0.16	0.84	1.62	(1.65)	3.56	(2.68)	10.56
LSG	1.13	0.13	0.10	0.14	1.48	(1.13)	2.31	(2.29)	6.66
CLOUD	1.08	(0.16)	0.00	(0.54)	0.00	0.00	2.39	(2.97)	7.75

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

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

Ari MSc	Managing Industry	Profile
Jussi Tokola	G Counsel	Profile
Tomi Hyrylainen	Chief Officer	Profile
Tanja Lounevirta	Head Communications	Profile
Satu Kiiskinen	Managing Transform	Profile
Malin ForsSkjveland	Head Operations	Profile
Tommi MSc	Head Relations	Profile

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