Nordic Semiconductor Correlations
| NRSDY Stock | USD 8.55 0.38 4.26% |
The current 90-days correlation between Nordic Semiconductor ASA and Alphawave IP Group is 0.01 (i.e., Significant diversification). The correlation of Nordic Semiconductor 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Nordic Semiconductor Correlation With Market
Significant diversification
The correlation between Nordic Semiconductor ASA and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordic Semiconductor ASA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Nordic Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nordic Semiconductor 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 Nordic Semiconductor - 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 Nordic Semiconductor ASA to buy it.
Moving against Nordic Pink Sheet
| 0.54 | AVGO | Broadcom Aggressive Push | PairCorr |
| 0.42 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
| 0.32 | MRVL | Marvell Technology Aggressive Push | PairCorr |
| 0.55 | YMM | Full Truck Alliance | PairCorr |
| 0.45 | TEVA | Teva Pharma Industries | PairCorr |
| 0.37 | PSQH | PSQ Holdings Trending | PairCorr |
| 0.66 | FRCOF | Fast Retailing | PairCorr |
| 0.57 | INVZ | Innoviz Technologies | PairCorr |
| 0.47 | WBA | Walgreens Boots Alliance Earnings Call This Week | PairCorr |
| 0.38 | WSM | Williams Sonoma | PairCorr |
Related Correlations Analysis
| -0.02 | 0.14 | -0.13 | -0.44 | -0.18 | AWEVF | ||
| -0.02 | 0.53 | 0.3 | -0.66 | 0.41 | AIP | ||
| 0.14 | 0.53 | -0.12 | -0.51 | -0.17 | ODII | ||
| -0.13 | 0.3 | -0.12 | 0.07 | 0.32 | ICG | ||
| -0.44 | -0.66 | -0.51 | 0.07 | -0.06 | GUER | ||
| -0.18 | 0.41 | -0.17 | 0.32 | -0.06 | NVEC | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Nordic Pink Sheet performing well and Nordic Semiconductor 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 Nordic Semiconductor'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AWEVF | 3.91 | (0.23) | 0.00 | (1.26) | 0.00 | 6.79 | 37.22 | |||
| AIP | 2.75 | 0.60 | 0.20 | 1.64 | 2.63 | 5.92 | 25.32 | |||
| ODII | 5.05 | 1.50 | 0.00 | 0.93 | 0.00 | 16.67 | 154.95 | |||
| ICG | 5.12 | (0.16) | 0.00 | (0.03) | 0.00 | 7.24 | 106.73 | |||
| GUER | 6.14 | (0.44) | 0.00 | 0.26 | 0.00 | 14.29 | 54.44 | |||
| NVEC | 1.55 | 0.08 | 0.03 | 0.22 | 1.97 | 3.25 | 16.16 |
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Nordic Semiconductor Corporate Management
| OleFredrik Morken | Ex Chain | Profile | |
| Kjetil Holstad | Ex Management | Profile | |
| Linda Pettersson | Sr Board | Profile | |
| SveinEgil Nielsen | CTO Strategy | Profile | |
| Geir Langeland | Ex Marketing | Profile | |
| SvennTore Larsen | CEO Pres | Profile | |
| Katarina Finneng | Ex Communication | Profile |