Noble Plc Correlations

NE Stock  USD 48.49  0.37  0.77%   
The correlation of Noble Plc 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 Noble Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Noble Plc 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.

Very weak diversification

The correlation between Noble Plc and NYA is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Noble Plc and NYA in the same portfolio, assuming nothing else is changed.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Noble Plc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
For information on how to trade Noble Stock refer to our How to Trade Noble Stock guide.
  
The ability to find closely correlated positions to Noble Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Noble Plc 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 Noble Plc - 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 Noble Plc to buy it.

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Risk-Adjusted Indicators

There is a big difference between Noble Stock performing well and Noble Plc 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 Noble Plc'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.69  0.30  0.25  0.31  1.16 
 3.34 
 24.74 
MSFT  0.89  0.05  0.05  0.18  0.89 
 2.11 
 5.31 
UBER  1.62  0.10  0.14  0.17  1.42 
 2.83 
 18.39 
F  1.51 (0.10) 0.02  0.08  1.58 
 4.07 
 9.61 
T  0.98  0.07 (0.01) 0.31  1.16 
 2.20 
 6.58 
A  1.11 (0.12)(0.04) 0.04  1.46 
 2.27 
 5.64 
CRM  1.16  0.02  0.04  0.14  1.29 
 2.85 
 8.93 
JPM  0.66  0.17  0.20  0.34  0.31 
 1.73 
 3.96 
MRK  0.68  0.23  0.27  0.44  0.00 
 1.95 
 6.92 
XOM  0.88  0.14  0.08  0.37  0.80 
 2.04 
 4.66 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Noble Plc 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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Noble Plc Corporate Directors

Noble Plc corporate directors refer to members of a Noble Plc board of directors. The board of directors generally takes responsibility for the Noble Plc'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 Noble Plc's board members must vote for the resolution. The Noble Plc board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Julie EdwardsIndependent DirectorProfile
Michael CawleyLead Independent DirectorProfile
Roger JenkinsIndependent DirectorProfile
Mary RicciardelloIndependent DirectorProfile

Already Invested in Noble Plc?

The danger of trading Noble Plc 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 Noble Plc 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 Noble Plc. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Noble Plc 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.
When determining whether Noble Plc is a strong investment it is important to analyze Noble Plc's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Noble Plc's future performance. For an informed investment choice regarding Noble Stock, refer to the following important reports:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Noble Plc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
For information on how to trade Noble Stock refer to our How to Trade Noble Stock guide.
Note that the Noble Plc information on this page should be used as a complementary analysis to other Noble Plc'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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.

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When running Noble Plc's price analysis, check to measure Noble Plc'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 Noble Plc is operating at the current time. Most of Noble Plc's value examination focuses on studying past and present price action to predict the probability of Noble Plc's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Noble Plc's price. Additionally, you may evaluate how the addition of Noble Plc to your portfolios can decrease your overall portfolio volatility.
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Is Noble Plc'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 Noble Plc. If investors know Noble 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 Noble Plc 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
0.123
Dividend Share
0.7
Earnings Share
3.3
Revenue Per Share
17.79
Quarterly Revenue Growth
0.04
The market value of Noble Plc is measured differently than its book value, which is the value of Noble that is recorded on the company's balance sheet. Investors also form their own opinion of Noble Plc's value that differs from its market value or its book value, called intrinsic value, which is Noble Plc'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 Noble Plc's market value can be influenced by many factors that don't directly affect Noble Plc'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 Noble Plc's value and its price as these two are different measures arrived at by different means. Investors typically determine if Noble Plc is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Noble Plc'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.