Lifecare Correlations

LIFE Stock

NOK 13.25 0.05 0.38%

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

Lifecare Correlation With Market

Weak diversification

The correlation between Lifecare AS and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lifecare AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lifecare Stock

0.86

MEDI

Medistim ASA

Pair Corr

Moving against Lifecare Stock

0.89	KOG	Kongsberg Gruppen ASA	Pair Corr
0.82	DNB	DnB ASA	Pair Corr
0.6	NHY	Norsk Hydro ASA	Pair Corr
0.5	AUSS	Austevoll Seafood ASA	Pair Corr

Related Correlations Analysis

	MEDI	LIFE	OBSRV	KOG	NAPA	ELK	SCATC	SOFF	CADLR	AZT
MEDI		0.86	0.42	-0.72	0.81	0.24	0.47	-0.25	0.66	0.87	MEDI
LIFE	0.86		0.18	-0.89	0.93	0.16	0.42	-0.54	0.65	0.89	LIFE
OBSRV	0.42	0.18		0.02	0.13	0.19	-0.06	0.42	0.0	0.03	OBSRV
KOG	-0.72	-0.89	0.02		-0.93	-0.16	-0.42	0.69	-0.63	-0.85	KOG
NAPA	0.81	0.93	0.13	-0.93		0.22	0.39	-0.54	0.61	0.87	NAPA
ELK	0.24	0.16	0.19	-0.16	0.22		0.15	-0.07	0.62	0.17	ELK
SCATC	0.47	0.42	-0.06	-0.42	0.39	0.15		-0.23	0.54	0.56	SCATC
SOFF	-0.25	-0.54	0.42	0.69	-0.54	-0.07	-0.23		-0.5	-0.56	SOFF
CADLR	0.66	0.65	0.0	-0.63	0.61	0.62	0.54	-0.5		0.76	CADLR
AZT	0.87	0.89	0.03	-0.85	0.87	0.17	0.56	-0.56	0.76		AZT
	MEDI	LIFE	OBSRV	KOG	NAPA	ELK	SCATC	SOFF	CADLR	AZT

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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

NAPA	+ 0.93	LIFE
AZT	+ 0.89	LIFE
AZT	+ 0.87	MEDI
AZT	+ 0.87	NAPA
LIFE	+ 0.86	MEDI
NAPA	+ 0.81	MEDI

High negative correlations

NAPA	- 0.93	KOG
KOG	- 0.89	LIFE
AZT	- 0.85	KOG
KOG	- 0.72	MEDI
CADLR	- 0.63	KOG
AZT	- 0.56	SOFF

Risk-Adjusted Indicators

There is a big difference between Lifecare Stock performing well and Lifecare 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 Lifecare'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
MEDI	1.98	(0.23)	0.00	(0.77)	0.00	0.00	4.96	(3.65)	11.09
LIFE	3.39	(0.97)	0.00	(0.29)	0.00	0.00	6.86	(9.82)	26.38
OBSRV	3.99	0.06	0.01	0.17	4.56	(5.92)	6.06	(8.57)	43.05
KOG	1.58	0.31	0.08	(5.25)	2.01	(1.71)	3.16	(2.64)	10.92
NAPA	1.92	(0.40)	0.00	1.18	0.00	0.00	4.35	(4.95)	14.55
ELK	1.47	0.14	0.04	0.45	1.70	(1.57)	3.38	(2.87)	12.04
SCATC	1.41	(0.03)	(0.06)	0.04	1.74	(1.53)	3.29	(2.96)	9.00
SOFF	2.09	0.23	0.09	0.39	2.14	(2.41)	3.69	(2.83)	27.89
CADLR	1.08	(0.06)	0.00	(0.12)	0.00	0.00	2.30	(2.26)	10.31
AZT	1.97	(0.24)	0.00	0.44	0.00	0.00	4.23	(3.59)	25.36

Be your own money manager

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