NORTHERN OCEAN Correlations

4JO Stock

EUR 0.47 0.01 2.08%

The current 90-days correlation between NORTHERN OCEAN LTD and Sinopec Oilfield Service is 0.22 (i.e., Modest diversification). The correlation of NORTHERN OCEAN 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.

NORTHERN OCEAN Correlation With Market

Very good diversification

The correlation between NORTHERN OCEAN LTD and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NORTHERN OCEAN LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NORTHERN Stock

0.61	3T4	TERADATA	Pair Corr
0.72	MUM	MENSCH UND MASCHINE Earnings Call This Week	Pair Corr
0.69	CHH	CK Infrastructure	Pair Corr

Moving against NORTHERN Stock

0.51	DBPD	Xtrackers ShortDAX	Pair Corr
0.33	JOT	ELEKTROBIT	Pair Corr

Related Correlations Analysis

	YIZH	HPC	PE1	NBI1	PRE1	OD3	6SD	4JO	TB8A	4DS
YIZH		-0.37	0.58	0.59	0.74	0.69	0.63	0.11	0.58	0.61	YIZH
HPC	-0.37		-0.05	-0.13	-0.49	-0.82	-0.72	-0.19	-0.73	-0.73	HPC
PE1	0.58	-0.05		0.86	0.65	0.3	0.36	0.16	0.24	0.43	PE1
NBI1	0.59	-0.13	0.86		0.79	0.44	0.5	0.17	0.38	0.54	NBI1
PRE1	0.74	-0.49	0.65	0.79		0.82	0.82	0.12	0.76	0.83	PRE1
OD3	0.69	-0.82	0.3	0.44	0.82		0.92	0.1	0.94	0.9	OD3
6SD	0.63	-0.72	0.36	0.5	0.82	0.92		-0.08	0.9	0.89	6SD
4JO	0.11	-0.19	0.16	0.17	0.12	0.1	-0.08		0.0	0.12	4JO
TB8A	0.58	-0.73	0.24	0.38	0.76	0.94	0.9	0.0		0.86	TB8A
4DS	0.61	-0.73	0.43	0.54	0.83	0.9	0.89	0.12	0.86		4DS
	YIZH	HPC	PE1	NBI1	PRE1	OD3	6SD	4JO	TB8A	4DS

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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

TB8A	+ 0.94	OD3
6SD	+ 0.92	OD3
4DS	+ 0.9	OD3
TB8A	+ 0.9	6SD
4DS	+ 0.89	6SD
NBI1	+ 0.86	PE1

High negative correlations

OD3	- 0.82	HPC
4DS	- 0.73	HPC
TB8A	- 0.73	HPC
6SD	- 0.72	HPC
PRE1	- 0.49	HPC
HPC	- 0.37	YIZH

Risk-Adjusted Indicators

There is a big difference between NORTHERN Stock performing well and NORTHERN OCEAN 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 NORTHERN OCEAN'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
YIZH	6.15	0.70	0.06	1.47	8.83	(7.55)	18.34	(17.46)	89.43
HPC	2.68	(0.60)	0.00	1.53	0.00	0.00	6.07	(5.90)	28.26
PE1	2.44	0.07	(0.02)	(0.66)	2.80	(2.85)	5.80	(4.46)	14.72
NBI1	3.72	0.25	0.02	(2.39)	4.69	(4.20)	8.53	(8.27)	22.57
PRE1	2.04	0.18	0.05	0.56	2.00	(2.58)	4.95	(2.67)	14.28
OD3	1.56	0.58	0.22	(4.33)	1.40	(1.89)	3.33	(2.78)	13.72
6SD	3.28	0.49	0.08	1.35	3.98	(4.16)	6.90	(6.25)	25.74
4JO	2.46	0.24	0.00	(0.13)	3.17	(3.65)	6.38	(4.26)	19.19
TB8A	2.99	0.60	0.09	(4.35)	3.16	(4.55)	7.55	(7.02)	19.82
4DS	1.94	0.40	0.11	0.96	2.17	(2.40)	6.56	(4.96)	16.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in NORTHERN OCEAN 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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