Lifecare Correlations

LIFE Stock

NOK 4.16 0.29 7.49%

The current 90-days correlation between Lifecare AS and MPC Energy Solutions is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Lifecare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Lifecare AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Lifecare Correlation With Market

Significant diversification

The correlation between Lifecare AS and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lifecare AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lifecare Stock

0.66

NISB

Nidaros Sparebank

Pair Corr

Moving against Lifecare Stock

0.71	MPCES	MPC Energy Solutions	Pair Corr
0.68	NHY	Norsk Hydro ASA	Pair Corr
0.65	MEDI	Medistim ASA	Pair Corr
0.65	MELG	Melhus Sparebank	Pair Corr
0.64	OKEA	Okea ASA	Pair Corr
0.62	SOGN	Sogn Sparebank	Pair Corr
0.6	ODL	Odfjell Drilling	Pair Corr
0.52	SOAG	Sparebank 1 Ostfold	Pair Corr
0.49	HDLY	Huddly AS	Pair Corr
0.49	PHO	Photocure	Pair Corr
0.44	AFK	Arendals Fossekompani ASA	Pair Corr
0.4	IDEX	Idex ASA	Pair Corr
0.85	TGS	TGS NOPEC Geophysical	Pair Corr
0.75	DSRT	Desert Control AS	Pair Corr
0.73	STB	Storebrand ASA	Pair Corr
0.73	ATEA	Atea ASA	Pair Corr
0.68	SHLF	Shelf Drilling	Pair Corr
0.63	OLT	Olav Thon Eien	Pair Corr
0.62	NYKD	Nykode Therapeutics ASA	Pair Corr
0.62	GRONG	Grong Sparebank	Pair Corr
0.61	KCC	Klaveness Combination	Pair Corr
0.61	ZAL	Zalaris ASA	Pair Corr
0.59	NOL	Northern Ocean	Pair Corr
0.59	HUNT	Hunter Group ASA	Pair Corr
0.53	GOD	Goodtech	Pair Corr
0.37	RANA	Rana Gruber AS	Pair Corr

Related Correlations Analysis

	MEDI	LIFE	OBSRV	PHO	TIETO	NOL	SOGN	MPCES	PEXIP	KCC
MEDI		-0.65	-0.25	0.2	0.71	0.23	0.3	0.24	0.25	0.56	MEDI
LIFE	-0.65		0.35	-0.49	-0.89	-0.59	-0.62	-0.71	-0.25	-0.61	LIFE
OBSRV	-0.25	0.35		0.02	-0.17	0.03	-0.1	-0.14	0.45	0.06	OBSRV
PHO	0.2	-0.49	0.02		0.54	0.86	0.84	0.78	0.69	0.74	PHO
TIETO	0.71	-0.89	-0.17	0.54		0.61	0.67	0.71	0.36	0.77	TIETO
NOL	0.23	-0.59	0.03	0.86	0.61		0.9	0.84	0.56	0.81	NOL
SOGN	0.3	-0.62	-0.1	0.84	0.67	0.9		0.87	0.46	0.77	SOGN
MPCES	0.24	-0.71	-0.14	0.78	0.71	0.84	0.87		0.33	0.7	MPCES
PEXIP	0.25	-0.25	0.45	0.69	0.36	0.56	0.46	0.33		0.6	PEXIP
KCC	0.56	-0.61	0.06	0.74	0.77	0.81	0.77	0.7	0.6		KCC
	MEDI	LIFE	OBSRV	PHO	TIETO	NOL	SOGN	MPCES	PEXIP	KCC

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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

SOGN	+ 0.9	NOL
MPCES	+ 0.87	SOGN
NOL	+ 0.86	PHO
SOGN	+ 0.84	PHO
MPCES	+ 0.84	NOL
KCC	+ 0.81	NOL

High negative correlations

TIETO	- 0.89	LIFE
MPCES	- 0.71	LIFE
LIFE	- 0.65	MEDI
SOGN	- 0.62	LIFE
KCC	- 0.61	LIFE
NOL	- 0.59	LIFE

Risk-Adjusted Indicators

There is a big difference between Lifecare Stock performing well and Lifecare 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 Lifecare'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
MEDI	2.15	0.13	0.05	0.21	2.15	(2.74)	4.82	(3.60)	11.57
LIFE	3.99	(1.19)	0.00	(11.99)	0.00	0.00	6.15	(12.12)	32.33
OBSRV	4.84	0.00	(0.01)	0.08	5.30	(6.69)	11.94	(8.57)	43.23
PHO	1.55	0.24	0.09	0.66	1.92	(1.88)	4.16	(2.39)	11.55
TIETO	1.19	0.26	0.15	4.09	1.00	(1.37)	2.76	(1.93)	12.09
NOL	1.96	0.67	0.31	(0.58)	1.14	(2.69)	2.92	(2.62)	43.11
SOGN	1.05	0.19	0.06	(0.68)	1.11	(1.23)	2.72	(2.66)	10.10
MPCES	2.22	0.69	0.37	1.12	1.18	(3.28)	3.95	(2.38)	45.29
PEXIP	1.61	0.27	0.10	(1.15)	1.56	(1.82)	3.06	(2.22)	17.91
KCC	1.23	0.06	0.00	0.36	1.32	(1.39)	3.07	(2.11)	7.31

Be your own money manager

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