Nordic Mining Correlations

NOM Stock

NOK 24.42 0.47 1.89%

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

Nordic Mining Correlation With Market

Significant diversification

The correlation between Nordic Mining ASA and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordic Mining ASA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Nordic Mining 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 Mining 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 Mining - 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 Mining ASA to buy it.

Moving together with Nordic Stock

0.74

YAR

Yara International ASA

Pair Corr

Moving against Nordic Stock

0.62	AKSO	Aker Solutions ASA	Pair Corr
0.5	DNB	DnB ASA	Pair Corr
0.41	AUTO	AutoStore Holdings	Pair Corr
0.4	MOWI	Mowi ASA	Pair Corr

Related Correlations Analysis

	KOG	NAPA	ELK	AZT	XXL	SVEG	EQNR	BAKKA	MING
KOG		-0.93	-0.22	-0.85	-0.88	0.58	0.26	0.69	0.79	KOG
NAPA	-0.93		0.29	0.87	0.9	-0.73	-0.08	-0.78	-0.91	NAPA
ELK	-0.22	0.29		0.22	0.35	-0.53	0.42	0.04	-0.37	ELK
AZT	-0.85	0.87	0.22		0.96	-0.56	-0.06	-0.54	-0.71	AZT
XXL	-0.88	0.9	0.35	0.96		-0.67	0.01	-0.56	-0.79	XXL
SVEG	0.58	-0.73	-0.53	-0.56	-0.67		-0.3	0.66	0.9	SVEG
EQNR	0.26	-0.08	0.42	-0.06	0.01	-0.3		0.02	-0.07	EQNR
BAKKA	0.69	-0.78	0.04	-0.54	-0.56	0.66	0.02		0.79	BAKKA
MING	0.79	-0.91	-0.37	-0.71	-0.79	0.9	-0.07	0.79		MING
	KOG	NAPA	ELK	AZT	XXL	SVEG	EQNR	BAKKA	MING

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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

XXL	+ 0.96	AZT
XXL	+ 0.9	NAPA
MING	+ 0.9	SVEG
AZT	+ 0.87	NAPA
MING	+ 0.79	KOG
MING	+ 0.79	BAKKA

High negative correlations

NAPA	- 0.93	KOG
MING	- 0.91	NAPA
XXL	- 0.88	KOG
AZT	- 0.85	KOG
MING	- 0.79	XXL
BAKKA	- 0.78	NAPA

Risk-Adjusted Indicators

There is a big difference between Nordic Stock performing well and Nordic Mining 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 Mining'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
KOG	1.57	0.27	0.07	(2.43)	2.06	(1.70)	3.16	(2.64)	9.58
NAPA	1.87	(0.51)	0.00	1.36	0.00	0.00	4.35	(4.95)	14.55
ELK	1.47	0.06	0.01	0.23	1.79	(1.57)	3.38	(2.87)	12.04
AZT	2.01	(0.23)	0.00	0.40	0.00	0.00	4.23	(3.59)	25.36
XXL	5.65	(0.41)	0.00	0.14	0.00	0.00	6.76	(9.44)	71.13
SVEG	0.86	0.11	0.03	1.51	0.65	(1.17)	1.75	(1.31)	6.38
EQNR	1.44	(0.01)	0.00	0.14	0.00	0.00	2.88	(3.22)	8.36
BAKKA	1.13	0.25	0.11	3.70	1.22	(1.25)	2.72	(2.35)	10.60
MING	0.63	0.15	0.07	1.48	0.67	(0.67)	1.36	(1.60)	4.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nordic Mining 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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Nordic Mining Corporate Management

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

Ivar Fossum	Chief Officer	Profile
Mona Schanche	VP Sustainability	Profile
Kenneth Angedal	Director Operations	Profile
Christian Gjerde	Chief Officer	Profile

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