Correlation Between Vienna Insurance and Austevoll Seafood
Can any of the company-specific risk be diversified away by investing in both Vienna Insurance and Austevoll Seafood 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 Vienna Insurance and Austevoll Seafood into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vienna Insurance Group and Austevoll Seafood ASA, you can compare the effects of market volatilities on Vienna Insurance and Austevoll 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 Vienna Insurance with a short position of Austevoll Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vienna Insurance and Austevoll Seafood.
Diversification Opportunities for Vienna Insurance and Austevoll Seafood
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Vienna and Austevoll is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Vienna Insurance Group and Austevoll Seafood ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Austevoll Seafood ASA and Vienna Insurance 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 Vienna Insurance Group are associated (or correlated) with Austevoll Seafood. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Austevoll Seafood ASA has no effect on the direction of Vienna Insurance i.e., Vienna Insurance and Austevoll Seafood go up and down completely randomly.
Pair Corralation between Vienna Insurance and Austevoll Seafood
Assuming the 90 days trading horizon Vienna Insurance Group is expected to generate 1.35 times more return on investment than Austevoll Seafood. However, Vienna Insurance is 1.35 times more volatile than Austevoll Seafood ASA. It trades about 0.15 of its potential returns per unit of risk. Austevoll Seafood ASA is currently generating about -0.03 per unit of risk. If you would invest 4,420 in Vienna Insurance Group on September 9, 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 Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vienna Insurance Group vs. Austevoll Seafood ASA
Performance |
| Timeline |
| Vienna Insurance |
| Austevoll Seafood ASA |
Vienna Insurance and Austevoll Seafood Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vienna Insurance and Austevoll Seafood
The main advantage of trading using opposite Vienna Insurance and Austevoll Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vienna Insurance position performs unexpectedly, Austevoll 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 Austevoll Seafood will offset losses from the drop in Austevoll Seafood's long position.| Vienna Insurance vs. Light Science Technologies | Vienna Insurance vs. Aptitude Software Group | Vienna Insurance vs. Young Cos Brewery | Vienna Insurance vs. Heavitree Brewery |
| Austevoll Seafood vs. Samsung Electronics Co | Austevoll Seafood vs. Samsung Electronics Co | Austevoll Seafood vs. Samsung Electronics Co | Austevoll Seafood vs. Toyota Motor Corp |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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