Next Biometrics Correlations
| NEXT Stock | NOK 3.60 0.05 1.41% |
The current 90-days correlation between Next Biometrics Group and Idex ASA is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Next Biometrics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Next Biometrics Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Next Biometrics Correlation With Market
Modest diversification
The correlation between Next Biometrics Group and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next Biometrics Group and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Next Biometrics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Next Biometrics 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 Next Biometrics - 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 Next Biometrics Group to buy it.
Moving against Next Stock
| 0.82 | WWI | Wilh Wilhelmsen Holding | PairCorr |
| 0.8 | 2020 | 2020 Bulkers | PairCorr |
| 0.77 | MOWI | Mowi ASA | PairCorr |
| 0.76 | SNI | Stolt Nielsen Limited | PairCorr |
| 0.73 | STB | Storebrand ASA | PairCorr |
| 0.73 | TEL | Telenor ASA | PairCorr |
| 0.72 | NHY | Norsk Hydro ASA | PairCorr |
| 0.69 | AKBM | Aker Biomarine AS | PairCorr |
| 0.62 | ASA | Atlantic Sapphire Earnings Call Tomorrow | PairCorr |
| 0.57 | ODFB | Odfjell B | PairCorr |
| 0.43 | SPOL | SpareBank 1 stlandet | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Next Stock performing well and Next Biometrics 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 Next Biometrics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IDEX | 3.95 | (0.87) | 0.00 | (0.58) | 0.00 | 9.55 | 40.78 | |||
| BGBIO | 2.54 | (0.67) | 0.00 | (1.92) | 0.00 | 4.41 | 23.30 | |||
| PREC | 1.65 | (0.29) | 0.00 | (21.77) | 0.00 | 3.67 | 13.64 | |||
| KOA | 1.72 | 0.04 | 0.02 | 0.15 | 1.97 | 4.00 | 11.51 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Next Biometrics 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.Did you try this?
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Correlation AnalysisReduce portfolio risk simply by holding instruments which are not perfectly correlated |
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Next Biometrics Corporate Management
Elected by the shareholders, the Next Biometrics' board of directors comprises two types of representatives: Next Biometrics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Next. The board's role is to monitor Next Biometrics' management team and ensure that shareholders' interests are well served. Next Biometrics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Next Biometrics' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Eirik Underthun | Chief Officer | Profile | |
| Peter Heuman | Chief Officer | Profile | |
| Ulf Ritsvall | VP Marketing | Profile | |
| Ravi Jagannath | VP Operations | Profile |