SoftwareOne Holding Correlations

SWON Stock

103.90 1.86 1.76%

The current 90-days correlation between SoftwareOne Holding and Goodtech is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SoftwareOne Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SoftwareOne Holding moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SoftwareOne Holding Correlation With Market

Average diversification

The correlation between SoftwareOne Holding and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SoftwareOne Holding and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SoftwareOne Stock

0.8	NHY	Norsk Hydro ASA Earnings Call Tomorrow	Pair Corr
0.84	MOWI	Mowi ASA	Pair Corr
0.82	AUTO	AutoStore Holdings	Pair Corr
0.75	OTEC	Otello ASA	Pair Corr

Moving against SoftwareOne Stock

0.45

EQNR

Equinor ASA Earnings Call This Week

Pair Corr

Related Correlations Analysis

	GOD	SOGN	INSTA	KRAB	SWON	AZT	HELG
GOD		0.77	-0.77	-0.72	-0.78	-0.7	0.09	GOD
SOGN	0.77		-0.8	-0.72	-0.66	-0.72	0.28	SOGN
INSTA	-0.77	-0.8		0.8	0.68	0.8	-0.17	INSTA
KRAB	-0.72	-0.72	0.8		0.55	0.92	-0.37	KRAB
SWON	-0.78	-0.66	0.68	0.55		0.49	0.02	SWON
AZT	-0.7	-0.72	0.8	0.92	0.49		-0.35	AZT
HELG	0.09	0.28	-0.17	-0.37	0.02	-0.35		HELG
	GOD	SOGN	INSTA	KRAB	SWON	AZT	HELG

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

AZT	+ 0.92	KRAB
KRAB	+ 0.8	INSTA
AZT	+ 0.8	INSTA
SOGN	+ 0.77	GOD
SWON	+ 0.68	INSTA
SWON	+ 0.55	KRAB

High negative correlations

INSTA	- 0.8	SOGN
SWON	- 0.78	GOD
INSTA	- 0.77	GOD
AZT	- 0.72	SOGN
KRAB	- 0.72	SOGN
KRAB	- 0.72	GOD

Risk-Adjusted Indicators

There is a big difference between SoftwareOne Stock performing well and SoftwareOne Holding 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 SoftwareOne Holding'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
GOD	0.96	(0.18)	0.00	(0.35)	0.00	0.00	1.88	(2.17)	7.28
SOGN	0.78	(0.15)	0.00	2.57	0.00	0.00	1.94	(2.05)	7.44
INSTA	0.76	0.21	0.16	0.64	0.69	(0.96)	2.09	(1.52)	5.40
KRAB	1.53	0.21	0.10	0.38	1.38	(2.12)	4.17	(2.48)	8.31
SWON	2.11	0.25	0.08	0.53	2.43	(2.20)	5.30	(4.62)	15.09
AZT	2.66	0.88	0.40	0.83	1.68	(3.77)	5.86	(3.80)	35.54
HELG	2.05	(0.09)	0.00	0.29	0.00	0.00	4.31	(3.42)	13.12

SoftwareOne Holding 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 SoftwareOne Holding stock to make a market-neutral strategy. Peer analysis of SoftwareOne Holding could also be used in its relative valuation, which is a method of valuing SoftwareOne Holding by comparing valuation metrics with similar companies.

Goodtech Sogn Sparebank Instabank ASA Kraft Bank Asa SoftwareOne Holding Arcticzymes Technologies ASA Helgeland Sparebank American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

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