Correlation Between Grieg Seafood and Amundi Physical
Can any of the company-specific risk be diversified away by investing in both Grieg Seafood and Amundi Physical 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 Amundi Physical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Grieg Seafood and Amundi Physical Gold, you can compare the effects of market volatilities on Grieg Seafood and Amundi Physical 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 Amundi Physical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grieg Seafood and Amundi Physical.
Diversification Opportunities for Grieg Seafood and Amundi Physical
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Grieg and Amundi is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Grieg Seafood and Amundi Physical Gold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Physical Gold 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 Amundi Physical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Physical Gold has no effect on the direction of Grieg Seafood i.e., Grieg Seafood and Amundi Physical go up and down completely randomly.
Pair Corralation between Grieg Seafood and Amundi Physical
Assuming the 90 days trading horizon Grieg Seafood is expected to generate 2.14 times less return on investment than Amundi Physical. In addition to that, Grieg Seafood is 1.47 times more volatile than Amundi Physical Gold. It trades about 0.07 of its total potential returns per unit of risk. Amundi Physical Gold is currently generating about 0.21 per unit of volatility. If you would invest 1,064,988 in Amundi Physical Gold on September 6, 2025 and sell it today you would earn a total of 187,000 from holding Amundi Physical Gold or generate 17.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grieg Seafood vs. Amundi Physical Gold
Performance |
| Timeline |
| Grieg Seafood |
| Amundi Physical Gold |
Grieg Seafood and Amundi Physical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grieg Seafood and Amundi Physical
The main advantage of trading using opposite Grieg Seafood and Amundi Physical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grieg Seafood position performs unexpectedly, Amundi Physical 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 Amundi Physical will offset losses from the drop in Amundi Physical's long position.| Grieg Seafood vs. Sealed Air Corp | Grieg Seafood vs. Fair Oaks Income | Grieg Seafood vs. Atalaya Mining | Grieg Seafood vs. AfriTin Mining |
| Amundi Physical vs. Prudential Financial | Amundi Physical vs. Beowulf Mining | Amundi Physical vs. Critical Metals Plc | Amundi Physical vs. Central Asia Metals |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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