Airthings ASA Correlations

ARTGF Stock

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The current 90-days correlation between Airthings ASA and Butler National Corp is -0.55 (i.e., Excellent diversification). The correlation of Airthings ASA 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.

Airthings ASA Correlation With Market

Very good diversification

The correlation between Airthings ASA and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Airthings ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Airthings Pink Sheet

0.85	ATI	Allegheny Technologies	Pair Corr
0.83	ACN	Accenture plc	Pair Corr
0.82	NMIH	NMI Holdings	Pair Corr
0.81	MIELY	Mitsubishi Electric Corp	Pair Corr
0.79	MIELF	Mitsubishi Electric	Pair Corr
0.77	FYBR	Frontier Communications	Pair Corr
0.72	WSFS	WSFS Financial	Pair Corr
0.66	ACR-PC	ACRES Commercial Realty	Pair Corr
0.65	MCHP	Microchip Technology	Pair Corr
0.62	F	Ford Motor	Pair Corr
0.54	ABLZF	ABB	Pair Corr
0.52	LNDNF	Lundin Energy AB	Pair Corr
0.49	BOF	BranchOut Food Common	Pair Corr
0.48	WEICF	Weichai Power	Pair Corr
0.45	ASXSF	Elysee Development Corp	Pair Corr

Related Correlations Analysis

	AFGYF	SSCFF	DBMG	BUKS	TGHLF	AGXXF	CSCMY	GKPRF	QNTFF	ALFNF
AFGYF		0.0	0.46	0.61	0.48	0.58	-0.01	-0.51	0.0	0.01	AFGYF
SSCFF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SSCFF
DBMG	0.46	0.0		0.62	0.25	0.81	0.52	-0.87	0.0	0.37	DBMG
BUKS	0.61	0.0	0.62		0.39	0.71	0.15	-0.7	0.0	0.22	BUKS
TGHLF	0.48	0.0	0.25	0.39		0.38	-0.03	-0.24	0.0	-0.13	TGHLF
AGXXF	0.58	0.0	0.81	0.71	0.38		0.49	-0.68	0.0	0.11	AGXXF
CSCMY	-0.01	0.0	0.52	0.15	-0.03	0.49		-0.33	0.0	0.16	CSCMY
GKPRF	-0.51	0.0	-0.87	-0.7	-0.24	-0.68	-0.33		0.0	-0.41	GKPRF
QNTFF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	QNTFF
ALFNF	0.01	0.0	0.37	0.22	-0.13	0.11	0.16	-0.41	0.0		ALFNF
	AFGYF	SSCFF	DBMG	BUKS	TGHLF	AGXXF	CSCMY	GKPRF	QNTFF	ALFNF

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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

AGXXF	+ 0.81	DBMG
AGXXF	+ 0.71	BUKS
BUKS	+ 0.62	DBMG
BUKS	+ 0.61	AFGYF
AGXXF	+ 0.58	AFGYF
CSCMY	+ 0.52	DBMG

High negative correlations

GKPRF	- 0.87	DBMG
GKPRF	- 0.7	BUKS
GKPRF	- 0.68	AGXXF
GKPRF	- 0.51	AFGYF
ALFNF	- 0.41	GKPRF
GKPRF	- 0.33	CSCMY

Risk-Adjusted Indicators

There is a big difference between Airthings Pink Sheet performing well and Airthings ASA 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 Airthings ASA'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
AFGYF	2.77	0.49	0.04	(1.36)	2.88	(13.53)	9.09	(8.33)	39.58
SSCFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DBMG	2.02	1.33	0.00	(0.36)	0.00	0.00	5.60	0.00	48.84
BUKS	2.45	0.39	0.12	1.09	2.34	(2.89)	6.60	(3.57)	22.24
TGHLF	0.49	0.07	(0.01)	2.32	0.48	(1.23)	1.50	(1.47)	6.04
AGXXF	1.73	0.22	0.00	0.65	0.00	0.00	4.65	(4.93)	38.81
CSCMY	2.84	0.15	0.01	6.97	4.19	(5.37)	9.30	(8.70)	28.86
GKPRF	2.38	(0.80)	0.00	(0.34)	0.00	0.00	5.26	(5.45)	16.99
QNTFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALFNF	0.16	0.02	0.00	(0.25)	0.00	0.00	0.00	0.00	9.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Airthings ASA 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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Airthings ASA Corporate Management

Anlaug Underdal	Staff Member	Profile
Tore Rismyhr	Sales Member	Profile
Oyvind Birkenes	Chief Officer	Profile
Jeremy Gerst	Chief Officer	Profile
Erlend Bolle	Chief Officer	Profile
Torje Carlsson	VP Consumer	Profile
Anita Overbekk	Director HR	Profile

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