Correlation Between Oslo Exchange and Proximar Seafood
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By analyzing existing cross correlation between Oslo Exchange Mutual and Proximar Seafood AS, you can compare the effects of market volatilities on Oslo Exchange and Proximar Seafood 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 Proximar Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oslo Exchange and Proximar Seafood.
Diversification Opportunities for Oslo Exchange and Proximar Seafood
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Oslo and Proximar is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Oslo Exchange Mutual and Proximar Seafood AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Proximar Seafood 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 Proximar Seafood. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Proximar Seafood has no effect on the direction of Oslo Exchange i.e., Oslo Exchange and Proximar Seafood go up and down completely randomly.
Pair Corralation between Oslo Exchange and Proximar Seafood
Assuming the 90 days trading horizon Oslo Exchange Mutual is expected to generate 0.37 times more return on investment than Proximar Seafood. However, Oslo Exchange Mutual is 2.69 times less risky than Proximar Seafood. It trades about 0.02 of its potential returns per unit of risk. Proximar Seafood AS is currently generating about -0.02 per unit of risk. If you would invest 138,054 in Oslo Exchange Mutual on August 28, 2024 and sell it today you would earn a total of 2,690 from holding Oslo Exchange Mutual or generate 1.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oslo Exchange Mutual vs. Proximar Seafood AS
Performance |
| Timeline |
Oslo Exchange and Proximar Seafood Volatility Contrast
Predicted Return Density |
| Returns |
Oslo Exchange Mutual
Pair trading matchups for Oslo Exchange
Proximar Seafood AS
Pair trading matchups for Proximar Seafood
Pair Trading with Oslo Exchange and Proximar Seafood
The main advantage of trading using opposite Oslo Exchange and Proximar Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oslo Exchange position performs unexpectedly, Proximar Seafood 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 Proximar Seafood will offset losses from the drop in Proximar Seafood's long position.| Oslo Exchange vs. Lea Bank ASA | Oslo Exchange vs. Helgeland Sparebank | Oslo Exchange vs. Sunndal Sparebank | Oslo Exchange vs. Xplora Technologies As |
| Proximar Seafood vs. Nidaros Sparebank | Proximar Seafood vs. Aasen Sparebank | Proximar Seafood vs. Pareto Bank ASA | Proximar Seafood vs. Gaming Innovation Group |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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