Scana ASA Correlations
| SCANA Stock | NOK 2.05 0.05 2.38% |
The correlation of Scana ASA 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Scana ASA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Scana ASA moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Scana ASA and NYA 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 Scana ASA and NYA in the same portfolio, assuming nothing else is changed.
Scana |
The ability to find closely correlated positions to Scana 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 Scana 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 Scana 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 Scana ASA to buy it.
Moving together with Scana Stock
| 0.79 | HPUR | Hexagon PurusAs Earnings Call This Week | PairCorr |
| 0.75 | TECO | Teco 2030Asa | PairCorr |
| 0.67 | IOX | Interoil Exploration and | PairCorr |
Moving against Scana Stock
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Risk-Adjusted Indicators
There is a big difference between Scana Stock performing well and Scana 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 Scana 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MGN | 1.21 | 0.07 | 0.00 | (0.09) | 1.48 | 3.04 | 6.41 | |||
| SOFF | 2.36 | 0.31 | 0.09 | (1.24) | 2.56 | 5.94 | 13.21 | |||
| RECSI | 2.65 | (0.22) | 0.00 | 2.86 | 0.00 | 5.50 | 15.15 | |||
| ENDUR | 1.66 | 0.25 | 0.11 | 0.51 | 1.78 | 3.52 | 11.44 | |||
| PGS | 1.81 | 0.43 | 0.21 | (1.05) | 1.43 | 4.02 | 13.12 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Scana 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.Did you try this?
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Scana ASA Corporate Management
Elected by the shareholders, the Scana ASA's board of directors comprises two types of representatives: Scana ASA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Scana. The board's role is to monitor Scana ASA's management team and ensure that shareholders' interests are well served. Scana 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, Scana ASA's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Torvald Reiestad | Chief Officer | Profile | |
| Egil Kjeldsen | Head Skarpenord | Profile | |
| Hans Kilen | Managing AS | Profile | |
| Kjell Ravns | Controller | Profile | |
| Tor Skjveland | Sales Director | Profile | |
| Trond Bo | Chief Skarpenord | Profile | |
| Styrk Bekkenes | Chief Officer | Profile |
Already Invested in Scana ASA?
The danger of trading Scana ASA is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Scana ASA is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Scana ASA. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Scana ASA is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Scana ASA. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Scana ASA information on this page should be used as a complementary analysis to other Scana ASA's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for Scana Stock analysis
When running Scana ASA's price analysis, check to measure Scana ASA's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Scana ASA is operating at the current time. Most of Scana ASA's value examination focuses on studying past and present price action to predict the probability of Scana ASA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Scana ASA's price. Additionally, you may evaluate how the addition of Scana ASA to your portfolios can decrease your overall portfolio volatility.
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