Nordic Semiconductor Correlations

NDCVF Stock

USD 13.14 0.31 2.42%

The current 90-days correlation between Nordic Semiconductor ASA and NVIDIA is 0.12 (i.e., Average diversification). The correlation of Nordic Semiconductor 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.

Nordic Semiconductor Correlation With Market

Good diversification

The correlation between Nordic Semiconductor ASA and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordic Semiconductor ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nordic Pink Sheet

0.68	ZEOWW	Zeo Energy Corp	Pair Corr
0.76	29280EAA7	US29280EAA73	Pair Corr

Moving against Nordic Pink Sheet

0.67	SMFG	Sumitomo Mitsui Financial Normal Trading	Pair Corr
0.66	MFG	Mizuho Financial	Pair Corr
0.64	KB	KB Financial Group	Pair Corr
0.55	MU	Micron Technology	Pair Corr
0.55	SMFNF	Sumitomo Mitsui Financial Normal Trading	Pair Corr
0.43	AVGO	Broadcom Earnings Call This Week	Pair Corr
0.79	AME	Ametek Inc	Pair Corr
0.65	SHG	Shinhan Financial	Pair Corr
0.64	CLS	Celestica	Pair Corr
0.44	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.39	AIP	Arteris Tech Boost	Pair Corr
0.37	FIDS	FNB Inc	Pair Corr
0.36	SSLLF	Siltronic AG	Pair Corr
0.34	GRPFF	Grupo Televisa SAB	Pair Corr
0.84	DPZUF	Dominos Pizza Enterprises	Pair Corr
0.78	EXPE	Expedia Group	Pair Corr
0.77	CLLFF	Collins Foods Limited	Pair Corr
0.75	WOSGF	Watches of Switzerland	Pair Corr
0.75	DNKEY	Danske Bank AS	Pair Corr
0.69	ULS	UL Solutions	Pair Corr

Related Correlations Analysis

	NVDA	AVGO	TSM	AMD	MU	QCOM	INTC	TXN	ARM	ADI
NVDA		0.29	0.72	0.73	0.65	0.72	0.67	-0.6	0.52	-0.43	NVDA
AVGO	0.29		0.44	0.4	0.57	0.37	0.45	-0.41	0.08	0.25	AVGO
TSM	0.72	0.44		0.76	0.75	0.59	0.89	-0.49	0.57	-0.22	TSM
AMD	0.73	0.4	0.76		0.85	0.58	0.78	-0.73	0.5	-0.36	AMD
MU	0.65	0.57	0.75	0.85		0.61	0.83	-0.81	0.15	-0.19	MU
QCOM	0.72	0.37	0.59	0.58	0.61		0.62	-0.4	0.34	-0.03	QCOM
INTC	0.67	0.45	0.89	0.78	0.83	0.62		-0.51	0.34	-0.05	INTC
TXN	-0.6	-0.41	-0.49	-0.73	-0.81	-0.4	-0.51		-0.08	0.54	TXN
ARM	0.52	0.08	0.57	0.5	0.15	0.34	0.34	-0.08		-0.34	ARM
ADI	-0.43	0.25	-0.22	-0.36	-0.19	-0.03	-0.05	0.54	-0.34		ADI
	NVDA	AVGO	TSM	AMD	MU	QCOM	INTC	TXN	ARM	ADI

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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

INTC	+ 0.89	TSM
MU	+ 0.85	AMD
INTC	+ 0.83	MU
INTC	+ 0.78	AMD
AMD	+ 0.76	TSM
MU	+ 0.75	TSM

High negative correlations

TXN	- 0.81	MU
TXN	- 0.73	AMD
TXN	- 0.6	NVDA
TXN	- 0.51	INTC
TXN	- 0.49	TSM
ADI	- 0.43	NVDA

Risk-Adjusted Indicators

There is a big difference between Nordic Pink Sheet performing well and Nordic Semiconductor 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 Nordic Semiconductor'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
NVDA	1.83	0.06	0.02	0.14	2.26	(1.86)	3.85	(3.65)	9.37
AVGO	2.23	0.31	0.14	0.35	1.96	(2.57)	9.41	(3.84)	15.68
TSM	1.72	0.28	0.15	0.29	1.68	(1.99)	3.57	(2.77)	11.47
AMD	3.02	0.39	0.13	0.29	3.09	(3.53)	9.00	(6.58)	31.55
MU	3.04	0.89	0.25	0.50	3.08	(3.31)	7.55	(5.56)	19.80
QCOM	1.57	0.04	0.05	0.10	2.10	(1.59)	2.56	(3.93)	15.46
INTC	3.04	0.73	0.27	0.46	2.43	(3.64)	8.65	(4.27)	29.02
TXN	1.45	(0.19)	0.00	(0.09)	0.00	0.00	2.64	(3.98)	8.17
ARM	2.32	0.01	0.02	0.08	2.99	(2.33)	4.66	(4.45)	18.76
ADI	1.41	0.19	0.05	(1.00)	1.73	(1.40)	3.16	(2.61)	7.16

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