Correlation Between Oslo Exchange and Arctic Fish
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By analyzing existing cross correlation between Oslo Exchange Mutual and Arctic Fish Holding, you can compare the effects of market volatilities on Oslo Exchange and Arctic Fish 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 Oslo Exchange with a short position of Arctic Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Arctic Fish.
Diversification Opportunities for Oslo Exchange and Arctic Fish
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Oslo and Arctic is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Arctic Fish Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arctic Fish Holding and Oslo Exchange 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 Oslo Exchange Mutual are associated (or correlated) with Arctic Fish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arctic Fish Holding has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Arctic Fish go up and down completely randomly.
Pair Corralation between Oslo Exchange and Arctic Fish
Assuming the 90 days trading horizon Oslo Exchange is expected to generate 12.47 times less return on investment than Arctic Fish. But when comparing it to its historical volatility, Oslo Exchange Mutual is 6.5 times less risky than Arctic Fish. It trades about 0.01 of its potential returns per unit of risk. Arctic Fish Holding is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 7,050 in Arctic Fish Holding on August 29, 2024 and sell it today you would lose (50.00) from holding Arctic Fish Holding or give up 0.71% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Arctic Fish Holding
Performance |
| Timeline |
Oslo Exchange and Arctic Fish Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Arctic Fish Holding
Pair trading matchups for Arctic Fish
Pair Trading with Oslo Exchange and Arctic Fish
The main advantage of trading using opposite Oslo Exchange and Arctic Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Arctic Fish 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 Arctic Fish will offset losses from the drop in Arctic Fish's long position.| Oslo Exchange vs. Lea Bank ASA | Oslo Exchange vs. Sunndal Sparebank | Oslo Exchange vs. Helgeland Sparebank | Oslo Exchange vs. Odfjell Technology |
| Arctic Fish vs. Icelandic Salmon As | Arctic Fish vs. Ice Fish Farm | Arctic Fish vs. Salmon Evolution Holding | Arctic Fish vs. Atlantic Sapphire As |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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