Orsted AS Correlations

DNNGY Stock

USD 15.49 0.37 2.45%

The current 90-days correlation between Orsted AS ADR and Orsted AS is -0.32 (i.e., Very good diversification). The correlation of Orsted AS 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.

Orsted AS Correlation With Market

Average diversification

The correlation between Orsted AS ADR and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orsted AS ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Orsted Pink Sheet

0.8	OEZVF	VERBUND AG	Pair Corr
0.74	DOGEF	Orsted AS	Pair Corr
0.71	CZAVF	CEZ a s	Pair Corr
0.65	EDRVF	EDP Renovaveis	Pair Corr
0.7	CLPXY	China Longyuan Power	Pair Corr
0.61	UAVS	Ageagle Aerial Systems Buyout Trend	Pair Corr
0.71	MCHB	Mechanics Bank	Pair Corr
0.79	CGXYY	China Galaxy Securities	Pair Corr
0.78	PTHL	Pheton Holdings	Pair Corr
0.73	SRM	SRM Entertainment, Common Trending	Pair Corr
0.65	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr

Moving against Orsted Pink Sheet

0.68	BRK-A	Berkshire Hathaway	Pair Corr
0.65	APDN	Applied DNA Sciences	Pair Corr
0.5	372546AW1	GEORGE WASH UNIV	Pair Corr
0.36	NIO	Nio Class A Aggressive Push	Pair Corr

Related Correlations Analysis

	DOGEF	INGXF	CWEN-A	HTOOW	MOTNF	IBDRY	VWDRY	RCRUY	ENLAY
DOGEF		0.58	0.55	0.41	0.19	0.48	0.2	-0.37	0.4	DOGEF
INGXF	0.58		0.7	0.62	0.14	0.68	0.44	-0.03	0.64	INGXF
CWEN-A	0.55	0.7		0.62	0.18	0.73	0.78	0.1	0.87	CWEN-A
HTOOW	0.41	0.62	0.62		0.16	0.51	0.53	0.13	0.61	HTOOW
MOTNF	0.19	0.14	0.18	0.16		0.05	0.13	0.02	0.15	MOTNF
IBDRY	0.48	0.68	0.73	0.51	0.05		0.43	0.09	0.85	IBDRY
VWDRY	0.2	0.44	0.78	0.53	0.13	0.43		0.4	0.73	VWDRY
RCRUY	-0.37	-0.03	0.1	0.13	0.02	0.09	0.4		0.33	RCRUY
ENLAY	0.4	0.64	0.87	0.61	0.15	0.85	0.73	0.33		ENLAY
	DOGEF	INGXF	CWEN-A	HTOOW	MOTNF	IBDRY	VWDRY	RCRUY	ENLAY

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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

ENLAY	+ 0.87	CWEN-A
ENLAY	+ 0.85	IBDRY
VWDRY	+ 0.78	CWEN-A
IBDRY	+ 0.73	CWEN-A
ENLAY	+ 0.73	VWDRY
CWEN-A	+ 0.7	INGXF

High negative correlations

RCRUY	- 0.37	DOGEF
RCRUY	- 0.03	INGXF

Risk-Adjusted Indicators

There is a big difference between Orsted Pink Sheet performing well and Orsted AS 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 Orsted AS'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
DOGEF	3.31	0.35	0.02	(0.24)	3.80	(4.00)	7.56	(6.34)	27.45
INGXF	0.75	0.11	(0.04)	(0.12)	1.41	(1.10)	2.89	(1.81)	9.89
CWEN-A	1.19	0.16	0.06	0.37	1.57	(1.18)	2.62	(2.38)	7.30
HTOOW	18.48	3.31	0.16	1.99	17.82	(22.33)	36.36	(32.73)	131.45
MOTNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IBDRY	0.91	0.11	(0.03)	(0.62)	1.45	(0.87)	1.86	(2.86)	6.30
VWDRY	2.49	0.52	0.14	3.36	2.50	(2.67)	9.20	(3.63)	15.96
RCRUY	1.90	0.01	(0.01)	0.15	2.32	(1.96)	4.84	(3.66)	12.25
ENLAY	0.84	0.20	0.08	1.96	0.75	(0.97)	1.76	(1.58)	4.34

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Our tools can tell you how much better you can do entering a position in Orsted AS 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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Orsted AS Corporate Management

Anders Hansen	VP Legal	Profile
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Anders Pedersen	Head Office	Profile
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