Telia Company Correlations

TLSNF Stock

USD 3.50 0.03 0.86%

The current 90-days correlation between Telia Company and Western Digital is 0.35 (i.e., Weak diversification). The correlation of Telia Company 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.

Telia Company Correlation With Market

Significant diversification

The correlation between Telia Company AB and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telia Company AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Telia Pink Sheet

0.57	GPOVF	Grupo Carso SAB	Pair Corr
0.51	ORGN	Origin Materials	Pair Corr
0.43	AMCCF	Amcor plc	Pair Corr
0.58	DIST	Distoken Acquisition	Pair Corr
0.48	WFC-PY	Wells Fargo	Pair Corr
0.34	OZK	Bank Ozk	Pair Corr
0.31	WRB-PE	W R Berkley	Pair Corr

Related Correlations Analysis

	WDC	USIO	DH	FLGC	ADI	XWEL	MDXHF	APGE
WDC		0.26	0.94	0.3	0.94	0.8	0.0	0.52	WDC
USIO	0.26		0.17	-0.31	0.14	0.33	0.0	-0.17	USIO
DH	0.94	0.17		0.42	0.93	0.75	0.0	0.54	DH
FLGC	0.3	-0.31	0.42		0.46	0.29	0.0	0.34	FLGC
ADI	0.94	0.14	0.93	0.46		0.74	0.0	0.59	ADI
XWEL	0.8	0.33	0.75	0.29	0.74		0.0	0.29	XWEL
MDXHF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	MDXHF
APGE	0.52	-0.17	0.54	0.34	0.59	0.29	0.0		APGE
	WDC	USIO	DH	FLGC	ADI	XWEL	MDXHF	APGE

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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

DH	+ 0.94	WDC
ADI	+ 0.94	WDC
ADI	+ 0.93	DH
XWEL	+ 0.8	WDC
XWEL	+ 0.75	DH
XWEL	+ 0.74	ADI

High negative correlations

FLGC	- 0.31	USIO
APGE	- 0.17	USIO
APGE	- 0.0	MDXHF
MDXHF	- 0.0	XWEL
MDXHF	- 0.0	ADI
MDXHF	- 0.0	FLGC

Risk-Adjusted Indicators

There is a big difference between Telia Pink Sheet performing well and Telia Company 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 Telia Company'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
WDC	1.37	0.80	0.54	1.08	0.24	(1.76)	5.25	(1.88)	10.44
USIO	2.12	0.27	0.03	2.68	2.62	(2.42)	4.83	(3.87)	17.49
DH	2.63	0.65	0.21	0.80	2.08	(3.09)	5.06	(4.48)	37.54
FLGC	3.87	(0.07)	0.02	0.17	4.04	(5.22)	9.38	(6.15)	23.33
ADI	1.32	0.48	0.19	(3.73)	0.92	(1.64)	3.01	(1.88)	12.17
XWEL	3.26	0.77	0.17	15.08	2.86	(4.26)	6.59	(5.26)	25.25
MDXHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APGE	2.76	0.00	0.04	0.21	4.12	(2.97)	7.08	(6.59)	26.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Telia Company 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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Telia Company Corporate Management

Allison FCMA	Pres CEO	Profile
Andreas Ekstrm	Head Acquisitions	Profile
Irene Krohn	Head Relations	Profile
Stefan Backman	Group VP	Profile
Per Morland	Ex CFO	Profile

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