Correlation Between Ice Fish and DNB NOR
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By analyzing existing cross correlation between Ice Fish Farm and DNB NOR KAPFORV, you can compare the effects of market volatilities on Ice Fish and DNB NOR and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Ice Fish with a short position of DNB NOR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ice Fish and DNB NOR.
Diversification Opportunities for Ice Fish and DNB NOR
Very good diversification
The 3 months correlation between Ice and DNB is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Ice Fish Farm and DNB NOR KAPFORV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DNB NOR KAPFORV and Ice Fish is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Ice Fish Farm are associated (or correlated) with DNB NOR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DNB NOR KAPFORV has no effect on the direction of Ice Fish i.e., Ice Fish and DNB NOR go up and down completely randomly.
Pair Corralation between Ice Fish and DNB NOR
Assuming the 90 days trading horizon Ice Fish Farm is expected to generate 36.35 times more return on investment than DNB NOR. However, Ice Fish is 36.35 times more volatile than DNB NOR KAPFORV. It trades about 0.11 of its potential returns per unit of risk. DNB NOR KAPFORV is currently generating about 0.47 per unit of risk. If you would invest 2,700 in Ice Fish Farm on September 1, 2024 and sell it today you would earn a total of 240.00 from holding Ice Fish Farm or generate 8.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ice Fish Farm vs. DNB NOR KAPFORV
Performance |
| Timeline |
| Ice Fish Farm |
| DNB NOR KAPFORV |
Ice Fish and DNB NOR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ice Fish and DNB NOR
The main advantage of trading using opposite Ice Fish and DNB NOR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ice Fish position performs unexpectedly, DNB NOR can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DNB NOR will offset losses from the drop in DNB NOR's long position.| Ice Fish vs. Icelandic Salmon As | Ice Fish vs. Arctic Fish Holding | Ice Fish vs. Salmon Evolution Holding | Ice Fish vs. Grieg Seafood ASA |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis 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 Stocks Directory module to find actively traded stocks across global markets.
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