Correlation Between Oslo Exchange and Ice Fish
Specify exactly 2 symbols:
By analyzing existing cross correlation between Oslo Exchange Mutual and Ice Fish Farm, you can compare the effects of market volatilities on Oslo Exchange and Ice 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 Ice Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Ice Fish.
Diversification Opportunities for Oslo Exchange and Ice Fish
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Oslo and Ice is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Ice Fish Farm in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ice Fish Farm 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 Ice Fish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ice Fish Farm has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Ice Fish go up and down completely randomly.
Pair Corralation between Oslo Exchange and Ice Fish
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.24 times more return on investment than Ice Fish. However, Oslo Exchange Mutual is 4.19 times less risky than Ice Fish. It trades about 0.02 of its potential returns per unit of risk. Ice Fish Farm is currently generating about -0.1 per unit of risk. If you would invest 142,866 in Oslo Exchange Mutual on December 11, 2024 and sell it today you would earn a total of 848.00 from holding Oslo Exchange Mutual or generate 0.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Ice Fish Farm
Performance |
| Timeline |
Oslo Exchange and Ice Fish Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Ice Fish Farm
Pair trading matchups for Ice Fish
Pair Trading with Oslo Exchange and Ice Fish
The main advantage of trading using opposite Oslo Exchange and Ice Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Ice 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 Ice Fish will offset losses from the drop in Ice Fish's long position.| Oslo Exchange vs. Golden Energy Offshore | Oslo Exchange vs. Instabank ASA | Oslo Exchange vs. Lery Seafood Group | Oslo Exchange vs. Napatech AS |
| Ice Fish vs. Icelandic Salmon As | Ice Fish vs. Arctic Fish Holding | Ice Fish vs. Salmon Evolution Holding | Ice Fish vs. Grieg Seafood ASA |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |