Techstep ASA Correlations

TECH Stock

NOK 10.75 0.55 4.87%

The current 90-days correlation between Techstep ASA and Next Biometrics Group is -0.22 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Techstep ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Techstep ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Techstep ASA Correlation With Market

Very good diversification

The correlation between Techstep ASA and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Techstep ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Techstep 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 Techstep 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 Techstep 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 Techstep ASA to buy it.

Moving together with Techstep Stock

0.74

TOM

Tomra Systems ASA

Pair Corr

Moving against Techstep Stock

0.84	FRO	Frontline Earnings Call Today	Pair Corr
0.79	TGS	TGS NOPEC Geophysical	Pair Corr
0.75	KRAB	Kraft Bank Asa	Pair Corr
0.71	BWLPG	BW LPG Earnings Call This Week	Pair Corr
0.7	ELIMP	Elektroimportoren	Pair Corr
0.69	WWI	Wilh Wilhelmsen Holding	Pair Corr
0.68	WWIB	Wilh Wilhelmsen Holding	Pair Corr
0.68	ABL	ABL Group ASA	Pair Corr
0.65	CADLR	Cadeler As	Pair Corr
0.61	NORTH	North Energy ASA	Pair Corr
0.54	SOFF	Solstad Offsho	Pair Corr
0.53	SCATC	Scatec Solar OL	Pair Corr
0.52	ZAP	Zaptec AS	Pair Corr
0.44	NOHAL	Nordic Halibut AS Earnings Call This Week	Pair Corr
0.43	XPLRA	Xplora Technologies	Pair Corr
0.41	NONG	Sparebank 1 Nord	Pair Corr
0.38	SPOG	Sparebanken Ost	Pair Corr
0.8	DELIA	Dellia Grp ASA	Pair Corr
0.79	AKER	Aker ASA	Pair Corr
0.78	DOFG	DOF Group ASA	Pair Corr
0.77	AFK	Arendals Fossekompani ASA	Pair Corr
0.76	HSHP	Himalaya Shipping	Pair Corr
0.74	PEN	Panoro Energy ASA	Pair Corr
0.72	OKEA	Okea ASA	Pair Corr
0.71	INSTA	Instabank ASA	Pair Corr
0.68	ORK	Orkla ASA	Pair Corr
0.66	HAUTO	Hoegh Autoliners ASA	Pair Corr
0.63	HDLY	Huddly AS	Pair Corr
0.62	NORAM	NorAm Drilling AS	Pair Corr

Related Correlations Analysis

	NEXT	ARR	CYVIZ	HUDL	IDEX	WSTEP	RECSI	HDLY	5PG	ITERA
NEXT		-0.6	-0.42	0.43	-0.26	-0.13	0.68	-0.69	-0.79	0.71	NEXT
ARR	-0.6		0.6	-0.04	0.62	0.4	-0.32	0.49	0.53	-0.32	ARR
CYVIZ	-0.42	0.6		0.27	0.84	0.45	-0.36	0.18	0.35	-0.14	CYVIZ
HUDL	0.43	-0.04	0.27		0.35	0.29	0.32	-0.41	-0.35	0.69	HUDL
IDEX	-0.26	0.62	0.84	0.35		0.61	-0.36	0.22	0.29	0.01	IDEX
WSTEP	-0.13	0.4	0.45	0.29	0.61		-0.13	0.16	0.19	0.16	WSTEP
RECSI	0.68	-0.32	-0.36	0.32	-0.36	-0.13		-0.81	-0.85	0.65	RECSI
HDLY	-0.69	0.49	0.18	-0.41	0.22	0.16	-0.81		0.88	-0.68	HDLY
5PG	-0.79	0.53	0.35	-0.35	0.29	0.19	-0.85	0.88		-0.66	5PG
ITERA	0.71	-0.32	-0.14	0.69	0.01	0.16	0.65	-0.68	-0.66		ITERA
	NEXT	ARR	CYVIZ	HUDL	IDEX	WSTEP	RECSI	HDLY	5PG	ITERA

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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

5PG	+ 0.88	HDLY
IDEX	+ 0.84	CYVIZ
ITERA	+ 0.71	NEXT
ITERA	+ 0.69	HUDL
RECSI	+ 0.68	NEXT
ITERA	+ 0.65	RECSI

High negative correlations

5PG	- 0.85	RECSI
HDLY	- 0.81	RECSI
5PG	- 0.79	NEXT
HDLY	- 0.69	NEXT
ITERA	- 0.68	HDLY
ITERA	- 0.66	5PG

Risk-Adjusted Indicators

There is a big difference between Techstep Stock performing well and Techstep 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 Techstep 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
NEXT	3.99	(0.85)	0.00	(0.84)	0.00	0.00	7.38	(7.61)	84.41
ARR	2.27	0.37	0.10	(6.75)	2.23	(2.79)	4.87	(4.09)	13.83
CYVIZ	0.99	0.09	(0.05)	(0.12)	1.11	(1.27)	2.10	(1.91)	6.79
HUDL	3.63	(0.19)	(0.02)	0.00	3.98	(4.62)	9.52	(6.67)	28.44
IDEX	4.33	1.02	0.23	0.96	3.59	(5.48)	16.19	(6.54)	42.91
WSTEP	1.19	(0.04)	(0.06)	0.03	1.27	(1.89)	3.33	(2.17)	7.57
RECSI	3.15	(1.84)	0.00	(1.65)	0.00	0.00	2.94	(7.69)	60.83
HDLY	4.58	1.06	0.21	0.93	3.89	(6.54)	11.34	(6.67)	48.16
5PG	3.02	0.42	0.13	0.45	2.68	(4.55)	7.59	(4.85)	22.69
ITERA	1.33	(0.11)	0.00	(0.21)	0.00	0.00	3.37	(3.52)	10.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in Techstep ASA 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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Techstep ASA Corporate Management

Elected by the shareholders, the Techstep ASA's board of directors comprises two types of representatives: Techstep ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Techstep. The board's role is to monitor Techstep ASA's management team and ensure that shareholders' interests are well served. Techstep ASA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Techstep ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mads Vardal	Chief Officer	Profile
Fredrik Logenius	Chief Officer	Profile
Ellen Skaarnaes	Chief Officer	Profile
Anita Huun	Chief Officer	Profile
Sheena Lim	Chief Officer	Profile
Gunnar Aasen	Chief Officer	Profile
Cathrine Birkenes	Head Compliance	Profile

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