Sentia Asa Correlations

SNTIA Stock

69.88 0.38 0.55%

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

Sentia Asa Correlation With Market

Very weak diversification

The correlation between Sentia Asa and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sentia Asa and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sentia 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 Sentia 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 Sentia 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 Sentia Asa to buy it.

Moving together with Sentia Stock

0.79	EQNR	Equinor ASA	Pair Corr
0.77	DNB	DnB ASA	Pair Corr
0.62	AKRBP	Aker BP ASA	Pair Corr
0.84	TEL	Telenor ASA	Pair Corr
0.69	YAR	Yara International ASA	Pair Corr
0.61	VAR	Var Energi ASA	Pair Corr
0.79	OKEA	Okea ASA	Pair Corr
0.78	HAUTO	Hoegh Autoliners ASA Earnings Call This Week	Pair Corr
0.71	STECH	Soiltech ASA	Pair Corr
0.9	HSHP	Himalaya Shipping	Pair Corr
0.77	HDLY	Huddly AS	Pair Corr
0.63	NONG	Sparebank 1 Nord	Pair Corr
0.64	ADS	ADS Maritime Holding	Pair Corr
0.74	DOFG	DOF Group ASA	Pair Corr
0.71	WWIB	Wilh Wilhelmsen Holding	Pair Corr
0.69	ROGS	Rogaland Sparebank	Pair Corr
0.74	BWLPG	BW LPG	Pair Corr
0.78	CADLR	Cadeler As	Pair Corr
0.78	ABL	ABL Group ASA Earnings Call This Week	Pair Corr
0.63	BONHR	Bonheur Earnings Call This Week	Pair Corr
0.64	SPOG	Sparebanken Ost	Pair Corr
0.83	AKSO	Aker Solutions ASA	Pair Corr
0.85	KRAB	Kraft Bank Asa	Pair Corr

Moving against Sentia Stock

0.38

ZENA

Zenith Energy

Pair Corr

Related Correlations Analysis

	MELG	AASB	TRSB	FFSB	SOGN	AKH	HSPG	SKUE	VVL
MELG		0.15	0.48	-0.3	0.53	-0.56	0.09	0.7	0.31	MELG
AASB	0.15		0.05	-0.12	-0.12	0.14	0.44	-0.16	-0.4	AASB
TRSB	0.48	0.05		0.13	0.29	-0.21	0.05	0.23	0.13	TRSB
FFSB	-0.3	-0.12	0.13		0.24	0.23	0.1	-0.4	-0.23	FFSB
SOGN	0.53	-0.12	0.29	0.24		-0.62	0.09	0.38	0.28	SOGN
AKH	-0.56	0.14	-0.21	0.23	-0.62		0.29	-0.59	-0.65	AKH
HSPG	0.09	0.44	0.05	0.1	0.09	0.29		-0.41	-0.69	HSPG
SKUE	0.7	-0.16	0.23	-0.4	0.38	-0.59	-0.41		0.69	SKUE
VVL	0.31	-0.4	0.13	-0.23	0.28	-0.65	-0.69	0.69		VVL
	MELG	AASB	TRSB	FFSB	SOGN	AKH	HSPG	SKUE	VVL

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

SKUE	+ 0.7	MELG
VVL	+ 0.69	SKUE
SOGN	+ 0.53	MELG
TRSB	+ 0.48	MELG
HSPG	+ 0.44	AASB
SKUE	+ 0.38	SOGN

High negative correlations

VVL	- 0.69	HSPG
VVL	- 0.65	AKH
AKH	- 0.62	SOGN
SKUE	- 0.59	AKH
AKH	- 0.56	MELG
SKUE	- 0.41	HSPG

Risk-Adjusted Indicators

There is a big difference between Sentia Stock performing well and Sentia 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 Sentia 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
MELG	0.77	0.14	0.07	(1.68)	0.69	(1.03)	2.03	(1.51)	7.42
AASB	1.27	0.04	0.00	0.19	1.48	(1.50)	3.41	(2.81)	8.79
TRSB	0.85	(0.06)	0.00	(0.02)	0.00	0.00	3.97	(2.48)	8.98
FFSB	0.83	0.02	(0.04)	(0.54)	1.06	(1.11)	2.00	(1.62)	5.60
SOGN	1.09	0.15	0.06	1.23	1.14	(1.29)	2.96	(2.18)	6.47
AKH	5.38	(1.72)	0.00	(3.21)	0.00	0.00	8.82	(11.01)	97.34
HSPG	0.68	(0.02)	0.00	(0.10)	0.00	0.00	2.03	(2.00)	12.63
SKUE	0.80	0.18	0.09	3.65	0.83	(0.86)	1.75	(1.44)	4.82
VVL	0.87	0.12	0.03	(0.67)	0.94	(1.31)	2.51	(2.11)	5.18

Sentia Asa Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sentia Asa stock to make a market-neutral strategy. Peer analysis of Sentia Asa could also be used in its relative valuation, which is a method of valuing Sentia Asa by comparing valuation metrics with similar companies.

Melhus Sparebank Aasen Sparebank Trndelag Sparebank Flekkefjord Sparebank Sogn Sparebank Aker Horizons AS Holand og Setskog Skue Sparebank Voss Veksel og American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

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