NOVO NORDISK Correlations

NONOF
 Stock
  

USD 111.25  0.12  0.11%   

The correlation of NOVO NORDISK is a statistical measure of how it moves in relation to other equities. 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 NOVO NORDISK moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NOVO NORDISK AS 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.
Additionally, see Stocks Correlation.
  
Refresh
The ability to find closely correlated positions to NOVO NORDISK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NOVO NORDISK 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 NOVO NORDISK - 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 NOVO NORDISK AS to buy it.

Moving together with NOVO NORDISK

0.81NVONovo Nordisk ASPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
FUBER
UBERMSFT
FMSFT
JPMA
CRMMSFT
JPMF
  
High negative correlations   
TUBER
MRKUBER
TMSFT
MRKF
MRKCRM
CRMT

NOVO NORDISK Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between NOVO NORDISK stock performing well and NOVO NORDISK company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze NOVO NORDISK's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 2.81  0.18  0.07  0.16  3.52  0.06 (2.99)  5.66 (5.40)  36.79 
MSFT 1.92  0.01  0.00 (0.17)  0.00 (0.0272)  0.00  2.97 (4.24)  9.36 
UBER 3.37 (0.28)  0.00 (0.33)  0.00 (0.10)  0.00  6.55 (7.19)  18.56 
F 2.44 (0.21)  0.00 (0.30)  0.00 (0.10)  0.00  3.89 (5.54)  16.83 
T 1.30  0.38  0.27  0.41  1.37  0.24 (1.49)  2.99 (2.47)  12.23 
A 1.98  0.00  0.00 (0.17)  0.00 (0.015)  0.00  3.19 (3.50)  9.77 
CRM 2.67  0.01  0.00 (0.17)  0.00 (0.0338)  0.00  6.33 (5.28)  16.84 
JPM 1.44 (0.09)  0.00 (0.26)  0.00 (0.05)  0.00  2.98 (3.00)  10.78 
MRK 1.06  0.30  0.34  0.44  0.95  0.28 (1.24)  2.16 (1.65)  7.44 
XOM 1.90  0.33  0.11  0.20  2.86  0.14 (1.71)  3.03 (3.96)  11.86 

Be your own money manager

Our tools can tell you how much better you can do entering a position in NOVO NORDISK without increasing your portfolio risk or giving up 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?

Run Portfolio Rebalancing Now

   

Portfolio Rebalancing

Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
All  Next Launch Module

NOVO NORDISK Corporate Directors

NOVO NORDISK corporate directors refer to members of a NOVO NORDISK board of directors. The board of directors generally takes responsibility for the NOVO NORDISK's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of NOVO NORDISK's board members must vote for the resolution. The NOVO NORDISK board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Soeren Pedersen - Director, Employee RepresentativeProfile
Kasim Kutay - DirectorProfile
Sylvie Gregoire - DirectorProfile
Mette Jensen - Director, Employee RepresentativeProfile

Investing NOVO NORDISK AS

You need to understand the risk of investing before taking a position in NOVO NORDISK. The danger of trading NOVO NORDISK AS 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 NOVO NORDISK 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 NOVO NORDISK. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile NOVO NORDISK AS 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.
Additionally, see Stocks Correlation. Note that the NOVO NORDISK AS information on this page should be used as a complementary analysis to other NOVO NORDISK'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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Complementary Tools for NONOF OTC Stock analysis

When running NOVO NORDISK AS price analysis, check to measure NOVO NORDISK'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 NOVO NORDISK is operating at the current time. Most of NOVO NORDISK's value examination focuses on studying past and present price action to predict the probability of NOVO NORDISK's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move NOVO NORDISK's price. Additionally, you may evaluate how the addition of NOVO NORDISK to your portfolios can decrease your overall portfolio volatility.
Competition Analyzer
Analyze and compare many basic indicators for a group of related or unrelated entities
Go
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Fundamental Analysis
View fundamental data based on most recent published financial statements
Go
Money Managers
Screen money managers from public funds and ETFs managed around the world
Go
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Go
Balance Of Power
Check stock momentum by analyzing Balance Of Power indicator and other technical ratios
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Portfolio Rebalancing
Analyze risk-adjusted returns against different time horizons to find asset-allocation targets
Go
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Go
Is NOVO NORDISK's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of NOVO NORDISK. If investors know NONOF will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about NOVO NORDISK listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.14
Market Capitalization
245.7 B
Quarterly Revenue Growth YOY
0.24
Return On Assets
0.23
Return On Equity
0.79
The market value of NOVO NORDISK AS is measured differently than its book value, which is the value of NONOF that is recorded on the company's balance sheet. Investors also form their own opinion of NOVO NORDISK's value that differs from its market value or its book value, called intrinsic value, which is NOVO NORDISK's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because NOVO NORDISK's market value can be influenced by many factors that don't directly affect NOVO NORDISK's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between NOVO NORDISK's value and its price as these two are different measures arrived at by different means. Investors typically determine NOVO NORDISK value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NOVO NORDISK's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.