DNB BANK Correlations

D1NC Stock

18.73 0.47 2.45%

The current 90-days correlation between DNB BANK ASA and BNP Paribas SA is -0.03 (i.e., Good diversification). The correlation of DNB BANK 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.

DNB BANK Correlation With Market

Significant diversification

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

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

Moving together with DNB Stock

0.61	SGE	Socit Gnrale Socit	Pair Corr
0.85	SYU1	Synovus Financial Corp	Pair Corr
0.81	EN3	Enbridge	Pair Corr
0.82	HI91	Hilton Worldwide Holdings	Pair Corr
0.8	AF4	HANOVER INSURANCE	Pair Corr
0.76	WX7	Corporate Office Pro	Pair Corr
0.87	NT4	Northern Trust	Pair Corr
0.76	PTX	Palantir Technologies	Pair Corr
0.68	3FNA	ADRIATIC METALS LS	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.81	2WY	Wyndham Hotels Resorts	Pair Corr
0.84	AQHE	Event Hospitality	Pair Corr
0.67	AZ5	AutoZone	Pair Corr
0.73	HXL	Hexcel	Pair Corr
0.8	PCG6	PG E P6	Pair Corr
0.83	WD5A	TRAVEL LEISURE DL	Pair Corr

Moving against DNB Stock

0.76	BYRA	BANK RAKYAT IND	Pair Corr
0.75	BYRA	PT Bank Rakyat	Pair Corr
0.73	SSU	Samsung Electronics	Pair Corr
0.73	SSU	Samsung Electronics	Pair Corr
0.65	SSUN	Samsung Electronics	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.64	SSUN	Samsung Electronics	Pair Corr
0.62	CBK	Commerzbank AG	Pair Corr
0.61	BYRA	PT Bank Rakyat	Pair Corr
0.61	PQ9	PT Bank Mandiri	Pair Corr
0.58	BNP	BNP Paribas SA	Pair Corr
0.54	ZZMS	Commerzbank AG	Pair Corr
0.47	PQ9	BANK MANDIRI	Pair Corr

Related Correlations Analysis

	BNP	D1NC	DBK	SGE	CBK	ZZMS	A5G	BZI	KONN	SYU1
BNP		-0.58	-0.29	-0.47	0.75	0.67	-0.48	0.17	-0.46	-0.67	BNP
D1NC	-0.58		0.46	0.61	-0.62	-0.54	0.21	-0.27	0.6	0.85	D1NC
DBK	-0.29	0.46		0.53	-0.23	-0.17	0.23	0.27	0.74	0.45	DBK
SGE	-0.47	0.61	0.53		-0.33	-0.24	0.45	0.15	0.79	0.77	SGE
CBK	0.75	-0.62	-0.23	-0.33		0.95	-0.42	0.11	-0.46	-0.68	CBK
ZZMS	0.67	-0.54	-0.17	-0.24	0.95		-0.43	0.11	-0.37	-0.6	ZZMS
A5G	-0.48	0.21	0.23	0.45	-0.42	-0.43		0.38	0.4	0.37	A5G
BZI	0.17	-0.27	0.27	0.15	0.11	0.11	0.38		0.29	-0.1	BZI
KONN	-0.46	0.6	0.74	0.79	-0.46	-0.37	0.4	0.29		0.75	KONN
SYU1	-0.67	0.85	0.45	0.77	-0.68	-0.6	0.37	-0.1	0.75		SYU1
	BNP	D1NC	DBK	SGE	CBK	ZZMS	A5G	BZI	KONN	SYU1

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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

ZZMS	+ 0.95	CBK
SYU1	+ 0.85	D1NC
KONN	+ 0.79	SGE
SYU1	+ 0.77	SGE
CBK	+ 0.75	BNP
SYU1	+ 0.75	KONN

High negative correlations

SYU1	- 0.68	CBK
SYU1	- 0.67	BNP
CBK	- 0.62	D1NC
SYU1	- 0.6	ZZMS
D1NC	- 0.58	BNP
ZZMS	- 0.54	D1NC

Risk-Adjusted Indicators

There is a big difference between DNB Stock performing well and DNB BANK 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 DNB BANK'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
BNP	1.05	(0.17)	0.00	0.40	0.00	0.00	1.73	(2.81)	5.82
D1NC	1.26	0.05	0.01	1.02	1.86	(1.28)	2.58	(2.96)	12.48
DBK	1.13	0.11	0.05	(0.39)	1.38	(1.18)	2.12	(2.41)	6.87
SGE	1.34	0.27	0.16	(0.53)	1.27	(1.60)	3.04	(2.48)	14.77
CBK	1.20	(0.02)	0.00	0.06	0.00	0.00	2.52	(2.11)	11.95
ZZMS	1.65	0.02	0.00	(0.14)	1.82	(2.20)	3.92	(3.07)	12.68
A5G	1.56	(0.09)	0.00	(5.44)	0.00	0.00	3.16	(3.65)	10.27
BZI	1.88	0.03	0.01	0.13	2.05	(2.27)	4.72	(4.03)	13.72
KONN	0.85	0.13	0.10	(4.49)	0.86	(0.93)	2.29	(1.84)	5.49
SYU1	1.76	0.30	0.16	1.07	1.51	(2.47)	4.03	(3.04)	19.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in DNB BANK 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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