Otovo AS Correlations

OTOVO Stock

NOK 1.00 0.04 4.17%

The current 90-days correlation between Otovo AS and NorAm Drilling AS is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Otovo AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Otovo AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Otovo AS Correlation With Market

Good diversification

The correlation between Otovo AS and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Otovo AS and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	NORAM	LSG	BIEN	MING	MOBA	ROMSB	SDSD	SOGN
NORAM		-0.06	-0.38	-0.34	-0.71	-0.08	-0.22	-0.22	NORAM
LSG	-0.06		0.52	0.61	0.28	0.73	0.6	0.13	LSG
BIEN	-0.38	0.52		0.9	0.8	0.86	0.92	0.57	BIEN
MING	-0.34	0.61	0.9		0.66	0.83	0.91	0.35	MING
MOBA	-0.71	0.28	0.8	0.66		0.52	0.62	0.66	MOBA
ROMSB	-0.08	0.73	0.86	0.83	0.52		0.88	0.42	ROMSB
SDSD	-0.22	0.6	0.92	0.91	0.62	0.88		0.43	SDSD
SOGN	-0.22	0.13	0.57	0.35	0.66	0.42	0.43		SOGN
	NORAM	LSG	BIEN	MING	MOBA	ROMSB	SDSD	SOGN

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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

SDSD	+ 0.92	BIEN
SDSD	+ 0.91	MING
MING	+ 0.9	BIEN
SDSD	+ 0.88	ROMSB
ROMSB	+ 0.86	BIEN
ROMSB	+ 0.83	MING

High negative correlations

MOBA	- 0.71	NORAM
BIEN	- 0.38	NORAM
MING	- 0.34	NORAM
SOGN	- 0.22	NORAM
SDSD	- 0.22	NORAM
ROMSB	- 0.08	NORAM

Risk-Adjusted Indicators

There is a big difference between Otovo Stock performing well and Otovo AS 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 Otovo AS'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
NORAM	1.22	(0.11)	0.00	(1.05)	0.00	0.00	2.99	(2.19)	8.86
LSG	1.21	0.08	(0.05)	(0.13)	1.42	(1.38)	3.16	(2.45)	8.59
BIEN	1.16	0.42	0.17	2.23	0.69	(2.05)	2.86	(1.98)	12.32
MING	0.66	0.04	(0.08)	0.45	0.80	(0.69)	1.36	(1.60)	4.37
MOBA	1.39	0.39	0.20	1.15	1.09	(1.83)	4.12	(1.87)	9.13
ROMSB	0.40	0.09	(0.04)	(1.31)	0.37	(0.98)	0.99	(0.88)	5.73
SDSD	0.74	0.05	(0.06)	0.95	0.78	(1.04)	1.25	(1.80)	4.20
SOGN	1.61	0.43	0.16	(15.99)	1.24	(2.16)	4.26	(2.65)	13.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Otovo AS 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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Otovo AS Corporate Management

Elected by the shareholders, the Otovo AS's board of directors comprises two types of representatives: Otovo AS inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Otovo. The board's role is to monitor Otovo AS's management team and ensure that shareholders' interests are well served. Otovo AS'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, Otovo AS's outside directors are responsible for providing unbiased perspectives on the board's policies.

Lars Ekeland	G Counsel	Profile
Paulina Ackermann	Managing Director	Profile
Inigo Amoribieta	Managing Director	Profile
Michal Karnibad	Chief Officer	Profile
Babak Tighnavard	Chief Officer	Profile
Andreas Thorsheim	GM CoFounder	Profile
Simen Jorgensen	CoFounder Officer	Profile

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