Correlation Between Amarin PLC and First Foods
Can any of the company-specific risk be diversified away by investing in both Amarin PLC and First Foods 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 Amarin PLC and First Foods into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amarin PLC and First Foods Group, you can compare the effects of market volatilities on Amarin PLC and First Foods 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 Amarin PLC with a short position of First Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amarin PLC and First Foods.
Diversification Opportunities for Amarin PLC and First Foods
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Amarin and First is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Amarin PLC and First Foods Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Foods Group and Amarin PLC 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 Amarin PLC are associated (or correlated) with First Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Foods Group has no effect on the direction of Amarin PLC i.e., Amarin PLC and First Foods go up and down completely randomly.
Pair Corralation between Amarin PLC and First Foods
If you would invest 1,504 in Amarin PLC on August 29, 2025 and sell it today you would earn a total of 110.00 from holding Amarin PLC or generate 7.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Amarin PLC vs. First Foods Group
Performance |
| Timeline |
| Amarin PLC |
| First Foods Group |
Amarin PLC and First Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amarin PLC and First Foods
The main advantage of trading using opposite Amarin PLC and First Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amarin PLC position performs unexpectedly, First Foods 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 First Foods will offset losses from the drop in First Foods' long position.| Amarin PLC vs. Yulong Eco Materials | Amarin PLC vs. Hyster Yale Materials Handling | Amarin PLC vs. Vulcan Materials | Amarin PLC vs. Mineral Mountain Mining |
| First Foods vs. Cintas | First Foods vs. Thomson Reuters | First Foods vs. Wolters Kluwer NV | First Foods vs. Wolters Kluwer NV |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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