Lundin Energy Correlations

LNDNF Stock

USD 0.43 0.00 0.00%

The correlation of Lundin Energy 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.

Lundin Energy Correlation With Market

Very good diversification

The correlation between Lundin Energy AB and DJI is -0.37 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lundin Energy AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lundin Pink Sheet

0.78	OEZVY	Verbund AG ADR	Pair Corr
0.63	DOGEF	Orsted A/S	Pair Corr
0.62	PPERY	Bank Mandiri Persero	Pair Corr
0.81	PBCRY	Bank Central Asia	Pair Corr

Moving against Lundin Pink Sheet

0.63	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.5	TLK	Telkom Indonesia Tbk	Pair Corr
0.47	CLPXY	China Longyuan Power	Pair Corr
0.4	SSNLF	Samsung Electronics	Pair Corr
0.94	MCCHF	McChip Resources	Pair Corr
0.91	FRD	Friedman Industries	Pair Corr
0.88	AVDX	AvidXchange Holdings	Pair Corr
0.84	SLGL	Sol Gel Technologies	Pair Corr
0.83	APP	Applovin Corp	Pair Corr
0.79	TLRY	Tilray Inc Aggressive Push	Pair Corr
0.75	CIFR	Cipher Mining Upward Rally	Pair Corr
0.75	AVGO	Broadcom Aggressive Push	Pair Corr
0.72	AUMTF	Aurelia Metals	Pair Corr
0.69	TEL	TE Connectivity	Pair Corr
0.67	NSARO	NSTAR Electric	Pair Corr
0.64	PBYI	Puma Biotechnology	Pair Corr
0.92	HITI	High Tide	Pair Corr
0.89	CVS	CVS Health Corp	Pair Corr
0.88	BKTI	BK Technologies	Pair Corr
0.86	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.85	ROG	Rogers	Pair Corr
0.81	CRDO	Credo Technology	Pair Corr

Related Correlations Analysis

	ADN	NKRSF	ERAO	PRWYF	GOOXF	ONPPF
ADN		0.0	-0.21	-0.02	0.0	0.0	ADN
NKRSF	0.0		0.0	0.0	0.0	0.0	NKRSF
ERAO	-0.21	0.0		-0.04	0.0	0.0	ERAO
PRWYF	-0.02	0.0	-0.04		0.0	0.0	PRWYF
GOOXF	0.0	0.0	0.0	0.0		0.0	GOOXF
ONPPF	0.0	0.0	0.0	0.0	0.0		ONPPF
	ADN	NKRSF	ERAO	PRWYF	GOOXF	ONPPF

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

NKRSF	+ 0.0	ADN
GOOXF	+ 0.0	ADN
ONPPF	+ 0.0	ADN
ERAO	+ 0.0	NKRSF
PRWYF	+ 0.0	NKRSF
GOOXF	+ 0.0	NKRSF

High negative correlations

ERAO	- 0.21	ADN
PRWYF	- 0.04	ERAO
PRWYF	- 0.02	ADN
ONPPF	- 0.0	GOOXF
ONPPF	- 0.0	PRWYF
GOOXF	- 0.0	PRWYF

Risk-Adjusted Indicators

There is a big difference between Lundin Pink Sheet performing well and Lundin Energy 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 Lundin Energy'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
ADN	5.91	0.84	0.15	0.23	5.65	(8.12)	15.61	(13.04)	74.92
NKRSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ERAO	23.32	6.27	0.19	(0.56)	20.31	(38.60)	100.00	(55.71)	173.65
PRWYF	0.75	0.41	0.00	(0.20)	0.00	0.00	0.00	0.00	0.00
GOOXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ONPPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lundin Energy 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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Lundin Energy Corporate Management

David Michelis	VP Marketing	Profile
Robert Eriksson	Director Relations	Profile
Zomo Fisher	VP Sustainability	Profile
Andrew Holding	Group Controller	Profile
Halvor Jahre	Exploration Norway	Profile
Daniel Fitzgerald	CEO Director	Profile

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