All constituents of the Oslo Børs Benchmark Index — fundamentals, momentum, risk & valuation
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What each metric tells you, why it matters, and how it was calculated.
How the stock has performed since January 1st this year — a quick snapshot of current-year momentum.
How it's calculated: (Current price − price on first trading day of the year) ÷ price on first trading day × 100.
The total market value of a company. Larger companies tend to be more stable; smaller ones can be more volatile but offer higher growth potential.
How it's calculated: Share price × total shares outstanding.
How much investors are paying for each krone of the company's earnings. A high P/E suggests investors expect future growth; a low P/E may signal undervaluation or declining earnings.
How it's calculated: Current share price ÷ trailing 12-month earnings per share.
Like trailing P/E, but forward-looking. If the forward P/E is significantly lower than trailing P/E, analysts expect earnings to grow.
How it's calculated: Current share price ÷ estimated next-12-month earnings per share (analyst consensus).
Whether a stock is trading above or below the accounting value of its assets. Particularly important for asset-heavy Norwegian sectors like banking (DNB), energy (Equinor), and shipping. A P/B below 1.0 means the market values the company below its book value.
How it's calculated: Market capitalisation ÷ (total assets − total liabilities).
The annual income return you receive from holding the stock, as a percentage of its price. Norwegian companies, especially in energy and financials, are known for generous dividend policies.
How it's calculated: Annual dividend per share ÷ current share price × 100.
The consensus view of professional sell-side analysts covering this stock. Ranges from Strong Buy to Sell. Useful as a sentiment gauge, but remember analysts have their own biases.
Source: Aggregated from Yahoo Finance's analyst consensus data.
Whether a stock is outperforming or underperforming the Norwegian market as a whole. A stock up +4% sounds decent — but if OSEBX is up +12%, the stock is actually lagging by 8 percentage points. Alpha strips away the market tide and shows you the stock-specific signal.
How it's calculated: Stock return over period − OSEBX return over the same period. Shown for 3-month, 6-month, and 1-year timeframes.
Not just how much the stock returned, but how much return you got per unit of risk (volatility). A stock that returned 15% with low volatility is fundamentally more attractive than one that returned 15% with wild swings. A Sharpe above 1.0 is generally considered good.
How it's calculated: (Annualised 1-year return − risk-free rate) ÷ annualised volatility. The risk-free rate uses the Norwegian 3-month government bill yield (~3.5%).
The worst peak-to-trough decline over the past year — the deepest hole an investor would have experienced. A stock might be up +10% YTD, but if it had a -30% drawdown in March, someone who bought at the peak is still underwater. This is the risk metric that P/E and Sharpe don't capture.
How it's calculated: For each day in the last 252 trading days, compute the decline from the highest price seen up to that point. The largest such decline is the maximum drawdown.
A composite measure of whether a stock has been consistently trending upward across multiple timeframes. Based on the academic momentum factor — stocks with strong recent momentum tend to continue outperforming in the near term.
How it's calculated: Weighted average of 1-month, 3-month, 6-month, and 12-month returns (with the most recent 1-month subtracted from the 12-month return to reduce short-term reversal noise). Normalised to a 0–100 score across all OSEBX constituents.
The stock's historical average return for each calendar month, based on the last 5 years. Norwegian markets have documented seasonal patterns — dividend season in spring, salmon price cycles in Q3/Q4, and year-end effects.
How it's calculated: For each of the 12 calendar months, compute the average return across the last 5 years of data. Displayed as a 12-bar sparkline.
How sensitive a stock is to oil price movements. For an index where Energy is 30%+ of weight, this is critical. A beta of 1.2 means the stock tends to move 1.2% for every 1% move in oil. Even non-energy stocks (like DNB) can have meaningful oil betas due to Norway's petroleum-dependent economy.
How it's calculated: Slope of a linear regression of the stock's daily returns against Brent crude (BZ=F) daily returns, using 1 year of data. Returns are aligned by date (inner join) to handle different trading calendars.
Not "is this stock volatile" but "is this stock more volatile than usual for itself right now." A stock at the 90th percentile of its own 5-year volatility history is in an unusual regime — something is happening (earnings, sector rotation, macro shock). A stock at the 10th percentile is unusually calm.
How it's calculated: Compute the trailing 30-day realised volatility (annualised standard deviation of daily returns). Rank this value as a percentile against all 30-day rolling volatility readings from the past 5 years.
How closely this stock moves with the broader Norwegian market. Most Norwegian investors are already heavily exposed to OSEBX through pension funds. A stock with 0.9 correlation adds almost no diversification value. A stock with 0.3 correlation is genuinely different exposure.
How it's calculated: Pearson correlation coefficient between the stock's daily returns and OSEBX daily returns, trailing 1 year (252 trading days).
The inverse of P/E, expressed as a percentage — making it directly comparable to bond yields. If a stock's earnings yield is 12% and Norwegian 10-year government bonds yield 3.5%, the equity risk premium is 8.5 percentage points. This is how institutional investors actually assess whether equities are cheap relative to fixed income.
How it's calculated: (Trailing 12-month earnings per share ÷ current share price) × 100. Displayed alongside the Norwegian 10-year bond yield (~3.5%) as a reference line.
The professional alternative to P/E. By using enterprise value (which includes debt) and EBITDA (earnings before interest, taxes, depreciation, and amortisation), it strips out differences in capital structure and accounting policies. The standard valuation metric for comparing Norwegian industrials, shipping, and energy companies that carry very different debt loads.
How it's calculated: Enterprise value (market cap + total debt − cash) ÷ trailing 12-month EBITDA.
Not "what's the yield today" but "can you count on this company to keep paying?" A 6% yield is meaningless if the company cut its dividend two years ago and just restored it. This metric shows the track record.
How it's calculated: Count the number of years out of the last 5 with at least one dividend payment. Classify the trend as "growing," "stable," or "cut." Displayed as a row of 5 filled/empty dots with a trend arrow.
What percentage of earnings the company is distributing as dividends. Below 60% is generally sustainable; 60–80% is moderate; above 80% is stretched and may not be maintainable, especially for cyclical Norwegian companies whose earnings can drop sharply with commodity prices.
How it's calculated: Annual dividends per share ÷ trailing earnings per share × 100.
How easily you can buy or sell this stock without moving the price. Small-cap OSEBX constituents with under 10M NOK daily turnover are effectively difficult to trade for anyone managing meaningful capital.
How it's calculated: Average daily traded value (price × volume) over the last 30 trading days, expressed in NOK. Flagged with a warning indicator if below 10M NOK/day.
Whether the stock is trading above or below its long-term average price level. Based on the theory that prices tend to revert to their mean over time — a stock trading 20% below its 5-year average may be compressed and due for recovery, while one 30% above may be overextended. Especially relevant for cyclical Norwegian sectors (energy, materials, shipping).
How it's calculated: (Current price − 5-year simple moving average) ÷ 5-year SMA × 100. The SMA uses 1,260 trading days of closing prices.
The Oslo Stock Exchange (Oslo Børs) is one of the oldest stock exchanges in the world, founded in 1819. Today it is owned by Euronext and serves as the primary marketplace for Norwegian equities.
OSEBX (Oslo Børs Benchmark Index) is the main benchmark — a free-float-adjusted, semi-annually rebalanced index of roughly 69 of the most traded companies on the exchange.
The index is heavily concentrated in energy and seafood. Equinor alone typically accounts for ~9-10% of the index weight, while the combined salmon farming sector (Mowi, SalMar, Lerøy, etc.) represents another ~6%. Financials (led by DNB) and defence/industrials (Kongsberg Gruppen) round out the top holdings.
Norway's unique position as a major petroleum exporter means OSEBX has a structurally higher correlation to oil prices than most developed-market indices. The Government Pension Fund Global (the "Oil Fund"), the world's largest sovereign wealth fund, does not invest in Norwegian equities — creating a somewhat distinct domestic investor base.
This dashboard shows delayed data updated weekly via Yahoo Finance. It is for informational and educational purposes only.