Novo Nordisk Correlations

NVO Stock  USD 134.08  1.96  1.44%   
The correlation of Novo Nordisk 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 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.

Modest diversification

The correlation between Novo Nordisk AS and NYA is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Novo Nordisk AS 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 Novo Nordisk AS. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real.
  
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 Stock

  0.8A Agilent Technologies Earnings Call TomorrowPairCorr
  0.73MTD Mettler Toledo InterPairCorr
  0.67PFE Pfizer Inc Financial Report 6th of August 2024 PairCorr
  0.69TMO Thermo Fisher ScientificPairCorr

Moving against Novo Stock

  0.57ITCI Intracellular ThPairCorr
  0.5IRWD Ironwood PharmaceuticalsPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Novo Stock performing well and Novo Nordisk 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 Novo Nordisk'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
CPHI  4.01 (0.24) 0.00 (0.11) 0.00 
 9.38 
 33.40 
UPC  6.80  1.21  0.15 (2.05) 6.82 
 14.58 
 36.04 
AKAN  10.08 (0.69) 0.00 (0.16) 0.00 
 26.61 
 64.89 
PTPI  4.17 (1.44) 0.00 (1.01) 0.00 
 7.27 
 33.72 
SBFM  11.05 (1.57) 0.00 (0.76) 0.00 
 20.00 
 132.88 
GHSI  1.93  0.29  0.08 (0.25) 2.64 
 3.47 
 22.89 
TKNO  3.52 (0.70) 0.00  0.82  0.00 
 7.30 
 26.57 
LOVFF  1.60 (0.26) 0.00 (0.24) 0.00 
 5.00 
 17.49 
MSMY  8.09  0.76  0.05  0.28  8.80 
 37.50 
 87.14 
GSAC  7.66  0.66  0.03  0.61  9.15 
 33.33 
 86.67 

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 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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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.
Kasim KutayDirectorProfile
Sylvie GregoireIndependent DirectorProfile
Mette JensenDirector, Employee RepresentativeProfile
Thomas RantzauDirector, Employee RepresentativeProfile

Already Invested in Novo Nordisk AS?

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 Sharpe 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.
When determining whether Novo Nordisk AS offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Novo Nordisk's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Novo Nordisk As Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Novo Nordisk As Stock:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novo Nordisk AS. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real.
You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..

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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 Novo 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
0.294
Earnings Share
2.88
Revenue Per Share
54.605
Quarterly Revenue Growth
0.225
Return On Assets
0.2524
The market value of Novo Nordisk AS is measured differently than its book value, which is the value of Novo 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 if Novo Nordisk is a good investment 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.