Correlation Between Grieg Seafood and Vienna Insurance
Can any of the company-specific risk be diversified away by investing in both Grieg Seafood and Vienna Insurance at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Grieg Seafood and Vienna Insurance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grieg Seafood and Vienna Insurance Group, you can compare the effects of market volatilities on Grieg Seafood and Vienna Insurance 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 Grieg Seafood with a short position of Vienna Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grieg Seafood and Vienna Insurance.
Diversification Opportunities for Grieg Seafood and Vienna Insurance
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Grieg and Vienna is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Grieg Seafood and Vienna Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vienna Insurance and Grieg Seafood 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 Grieg Seafood are associated (or correlated) with Vienna Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vienna Insurance has no effect on the direction of Grieg Seafood i.e., Grieg Seafood and Vienna Insurance go up and down completely randomly.
Pair Corralation between Grieg Seafood and Vienna Insurance
Assuming the 90 days trading horizon Grieg Seafood is expected to generate 2.08 times less return on investment than Vienna Insurance. In addition to that, Grieg Seafood is 1.13 times more volatile than Vienna Insurance Group. It trades about 0.07 of its total potential returns per unit of risk. Vienna Insurance Group is currently generating about 0.15 per unit of volatility. If you would invest 4,420 in Vienna Insurance Group on September 6, 2025 and sell it today you would earn a total of 750.00 from holding Vienna Insurance Group or generate 16.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Grieg Seafood vs. Vienna Insurance Group
Performance |
| Timeline |
| Grieg Seafood |
| Vienna Insurance |
Grieg Seafood and Vienna Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grieg Seafood and Vienna Insurance
The main advantage of trading using opposite Grieg Seafood and Vienna Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grieg Seafood position performs unexpectedly, Vienna Insurance 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 Vienna Insurance will offset losses from the drop in Vienna Insurance's long position.| Grieg Seafood vs. Pulsar Helium | Grieg Seafood vs. Tungsten West PLC | Grieg Seafood vs. Hardide PLC | Grieg Seafood vs. Versarien PLC |
| Vienna Insurance vs. Pulsar Helium | Vienna Insurance vs. Tungsten West PLC | Vienna Insurance vs. Hardide PLC | Vienna Insurance vs. Versarien PLC |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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