Klaveness Combination Correlations

KCC Stock

74.90 0.50 0.67%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Klaveness Combination moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Klaveness Combination Carriers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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

Moving together with Klaveness Stock

0.72	HAFNI	Hafnia	Pair Corr
0.85	WWIB	Wilh Wilhelmsen Holding	Pair Corr
0.88	HAUTO	Hoegh Autoliners ASA	Pair Corr
0.75	MPCC	MPC Container Ships	Pair Corr
0.76	OET	Okeanis Eco Tankers	Pair Corr
0.83	NHY	Norsk Hydro ASA	Pair Corr
0.88	WWI	Wilh Wilhelmsen Holding	Pair Corr
0.72	MOWI	Mowi ASA	Pair Corr
0.85	WAWI	Wallenius Wilhelmsen	Pair Corr

Moving against Klaveness Stock

0.83	KOG	Kongsberg Gruppen ASA	Pair Corr
0.76	AKSO	Aker Solutions ASA	Pair Corr
0.54	DNB	DnB ASA	Pair Corr
0.31	TIETO	TietoEVRY Oyj	Pair Corr

Related Correlations Analysis

	HELG	AZT	SKUE	NAPA	LSG	EIOF	AURG	MELG
HELG		-0.24	0.06	0.3	-0.04	0.04	-0.03	-0.24	HELG
AZT	-0.24		-0.68	-0.63	0.58	0.59	0.73	-0.3	AZT
SKUE	0.06	-0.68		0.31	-0.7	-0.65	-0.65	0.68	SKUE
NAPA	0.3	-0.63	0.31		-0.18	-0.48	-0.29	0.12	NAPA
LSG	-0.04	0.58	-0.7	-0.18		0.51	0.72	-0.57	LSG
EIOF	0.04	0.59	-0.65	-0.48	0.51		0.54	-0.59	EIOF
AURG	-0.03	0.73	-0.65	-0.29	0.72	0.54		-0.38	AURG
MELG	-0.24	-0.3	0.68	0.12	-0.57	-0.59	-0.38		MELG
	HELG	AZT	SKUE	NAPA	LSG	EIOF	AURG	MELG

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

AURG	+ 0.73	AZT
AURG	+ 0.72	LSG
MELG	+ 0.68	SKUE
EIOF	+ 0.59	AZT
LSG	+ 0.58	AZT
AURG	+ 0.54	EIOF

High negative correlations

LSG	- 0.7	SKUE
SKUE	- 0.68	AZT
AURG	- 0.65	SKUE
EIOF	- 0.65	SKUE
NAPA	- 0.63	AZT
MELG	- 0.59	EIOF

Risk-Adjusted Indicators

There is a big difference between Klaveness Stock performing well and Klaveness Combination 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 Klaveness Combination'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
HELG	1.66	(0.03)	0.00	0.25	0.00	0.00	3.29	(3.02)	11.14
AZT	2.63	0.74	0.35	0.64	1.59	(3.69)	5.31	(3.28)	34.11
SKUE	1.04	(0.03)	0.00	0.40	0.00	0.00	2.63	(1.82)	7.88
NAPA	2.28	(0.07)	(0.02)	0.05	2.48	(2.82)	5.88	(4.53)	11.74
LSG	1.08	0.07	(0.02)	0.88	1.37	(1.06)	2.19	(2.10)	6.07
EIOF	1.18	0.11	0.00	(6.79)	1.37	(1.37)	2.61	(2.68)	7.05
AURG	0.43	0.00	(0.07)	0.11	0.45	(0.66)	1.29	(0.84)	4.53
MELG	0.69	(0.05)	0.00	(0.20)	0.00	0.00	1.72	(1.63)	6.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Klaveness Combination 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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