Aker BP Correlations

AKRBP Stock

NOK 262.30 0.70 0.27%

The current 90-days correlation between Aker BP ASA and Var Energi ASA is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aker BP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aker BP ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

Moving together with Aker Stock

0.69	VAR	Var Energi ASA	Pair Corr
0.66	OKEA	Okea ASA	Pair Corr

Moving against Aker Stock

0.76	ENTRA	Entra ASA	Pair Corr
0.68	TEL	Telenor ASA	Pair Corr
0.67	ORK	Orkla ASA	Pair Corr
0.47	NORTH	North Energy ASA	Pair Corr
0.38	DNB	DnB ASA	Pair Corr
0.32	AUSS	Austevoll Seafood ASA	Pair Corr

Related Correlations Analysis

	VAR	ZENA	SUBC	FRO	DNO	PEN	OKEA	BWE	ODL	IOX
VAR		-0.21	0.4	0.07	0.6	0.39	0.62	0.34	0.52	-0.05	VAR
ZENA	-0.21		0.64	-0.57	0.36	0.65	-0.56	0.04	-0.4	0.73	ZENA
SUBC	0.4	0.64		-0.52	0.65	0.81	-0.12	0.42	-0.05	0.58	SUBC
FRO	0.07	-0.57	-0.52		-0.06	-0.54	0.41	0.29	0.59	-0.73	FRO
DNO	0.6	0.36	0.65	-0.06		0.71	0.4	0.38	0.26	0.27	DNO
PEN	0.39	0.65	0.81	-0.54	0.71		-0.13	0.1	0.04	0.7	PEN
OKEA	0.62	-0.56	-0.12	0.41	0.4	-0.13		0.08	0.43	-0.42	OKEA
BWE	0.34	0.04	0.42	0.29	0.38	0.1	0.08		0.23	-0.24	BWE
ODL	0.52	-0.4	-0.05	0.59	0.26	0.04	0.43	0.23		-0.34	ODL
IOX	-0.05	0.73	0.58	-0.73	0.27	0.7	-0.42	-0.24	-0.34		IOX
	VAR	ZENA	SUBC	FRO	DNO	PEN	OKEA	BWE	ODL	IOX

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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

PEN	+ 0.81	SUBC
IOX	+ 0.73	ZENA
PEN	+ 0.71	DNO
IOX	+ 0.7	PEN
PEN	+ 0.65	ZENA
DNO	+ 0.65	SUBC

High negative correlations

IOX	- 0.73	FRO
FRO	- 0.57	ZENA
OKEA	- 0.56	ZENA
PEN	- 0.54	FRO
FRO	- 0.52	SUBC
IOX	- 0.42	OKEA

Risk-Adjusted Indicators

There is a big difference between Aker Stock performing well and Aker BP 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 Aker BP'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
VAR	1.14	0.07	0.01	0.32	1.51	(1.17)	2.54	(2.41)	10.12
ZENA	3.39	(0.43)	0.00	(1.32)	0.00	0.00	6.12	(7.32)	26.57
SUBC	1.00	0.00	(0.05)	0.04	1.35	(0.99)	2.03	(2.46)	5.90
FRO	1.76	0.49	0.19	(1.24)	1.65	(1.98)	4.54	(2.63)	11.29
DNO	1.64	0.16	0.04	(3.13)	1.77	(1.80)	4.48	(2.71)	15.13
PEN	1.39	(0.07)	0.00	0.96	0.00	0.00	3.14	(2.46)	12.55
OKEA	1.53	0.30	0.18	0.49	1.25	(1.88)	4.26	(2.79)	9.07
BWE	2.31	0.18	0.04	0.83	2.89	(2.51)	4.55	(4.61)	22.52
ODL	1.27	0.22	0.10	(4.89)	1.23	(1.59)	2.72	(1.92)	11.77
IOX	2.25	(0.31)	0.00	(0.28)	0.00	0.00	5.69	(4.79)	18.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aker BP 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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Aker BP Corporate Management

Elected by the shareholders, the Aker BP's board of directors comprises two types of representatives: Aker BP inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aker. The board's role is to monitor Aker BP's management team and ensure that shareholders' interests are well served. Aker BP's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Aker BP's outside directors are responsible for providing unbiased perspectives on the board's policies.

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