Tomra Systems Correlations
| TMRAF Stock | USD 14.08 0.28 1.95% |
The current 90-days correlation between Tomra Systems ASA and Tomra Systems ASA is -0.05 (i.e., Good diversification). The correlation of Tomra Systems 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.
Tomra Systems Correlation With Market
Good diversification
The correlation between Tomra Systems ASA and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tomra Systems ASA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Tomra Systems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tomra Systems 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 Tomra Systems - 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 Tomra Systems ASA to buy it.
Moving together with Tomra Pink Sheet
| 0.69 | VEOEY | Veolia Environnement | PairCorr |
| 0.63 | VEOEF | Veolia Environnement | PairCorr |
| 0.69 | TMRAY | Tomra Systems ASA | PairCorr |
| 0.7 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.72 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.62 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.73 | TLK | Telkom Indonesia Tbk | PairCorr |
Moving against Tomra Pink Sheet
| 0.83 | PTAIF | PT Astra International | PairCorr |
| 0.78 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.76 | SSNLF | Samsung Electronics | PairCorr |
| 0.73 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.71 | WM | Waste Management | PairCorr |
| 0.69 | GFL | Gfl Environmental | PairCorr |
| 0.66 | FUND | Sprott Focus Trust | PairCorr |
| 0.65 | ET | Energy Transfer LP | PairCorr |
| 0.59 | RSG | Republic Services | PairCorr |
| 0.51 | CWST | Casella Waste Systems | PairCorr |
| 0.46 | WCN | Waste Connections | PairCorr |
| 0.46 | SRCL | Stericycle | PairCorr |
| 0.44 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.37 | SOUN | SoundHound AI Trending | PairCorr |
| 0.77 | SOFI | SoFi Technologies | PairCorr |
| 0.76 | MSTR | MicroStrategy Incorporated Aggressive Push | PairCorr |
| 0.72 | OPRA | Opera | PairCorr |
| 0.72 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.72 | 55607PAE5 | MQGAU 5376057 23 | PairCorr |
| 0.71 | IONQ | IONQ Inc | PairCorr |
| 0.69 | LUNR | Intuitive Machines | PairCorr |
| 0.68 | NFLX | Netflix Sell-off Trend | PairCorr |
| 0.67 | CRS | Carpenter Technology | PairCorr |
| 0.67 | PLTR | Palantir Technologies | PairCorr |
| 0.66 | APLD | Applied Blockchain | PairCorr |
| 0.61 | DORM | Dorman Products | PairCorr |
| 0.59 | FDP | Fresh Del Monte | PairCorr |
| 0.56 | INMD | InMode | PairCorr |
Related Correlations Analysis
| 0.63 | 0.5 | 0.49 | 0.45 | TMRAY | ||
| 0.63 | 0.27 | 0.66 | 0.68 | NVZMF | ||
| 0.5 | 0.27 | 0.07 | 0.05 | HLMAF | ||
| 0.49 | 0.66 | 0.07 | 0.58 | TMTNF | ||
| 0.45 | 0.68 | 0.05 | 0.58 | PRYMF | ||
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Risk-Adjusted Indicators
There is a big difference between Tomra Pink Sheet performing well and Tomra Systems 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 Tomra Systems' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TMRAY | 1.62 | (0.04) | 0.00 | (0.05) | 0.00 | 3.10 | 14.08 | |||
| NVZMF | 1.93 | (0.12) | 0.00 | 0.22 | 0.00 | 3.92 | 12.49 | |||
| HLMAF | 1.22 | (0.03) | (0.02) | 0.08 | 1.42 | 3.69 | 8.60 | |||
| TMTNF | 1.75 | (0.08) | 0.00 | (0.17) | 0.00 | 2.63 | 40.07 | |||
| PRYMF | 1.95 | (0.07) | 0.00 | (0.42) | 0.00 | 4.51 | 13.77 |
Be your own money manager
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Tomra Systems Corporate Management
| Bing Zhao | VP Asia | Profile | |
| Mithu Mohren | Circular Communications | Profile | |
| Michel Picandet | Ex Food | Profile | |
| Tove Andersen | Pres CEO | Profile | |
| Eva Sagemo | Chief Officer | Profile |