Correlation Between Atalaya Mining and Grieg Seafood
Can any of the company-specific risk be diversified away by investing in both Atalaya Mining and Grieg 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 Atalaya Mining and Grieg Seafood into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atalaya Mining and Grieg Seafood, you can compare the effects of market volatilities on Atalaya Mining and Grieg 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 Atalaya Mining with a short position of Grieg Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atalaya Mining and Grieg Seafood.
Diversification Opportunities for Atalaya Mining and Grieg Seafood
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Atalaya and Grieg is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Atalaya Mining and Grieg Seafood in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grieg Seafood and Atalaya Mining 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 Atalaya Mining are associated (or correlated) with Grieg Seafood. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grieg Seafood has no effect on the direction of Atalaya Mining i.e., Atalaya Mining and Grieg Seafood go up and down completely randomly.
Pair Corralation between Atalaya Mining and Grieg Seafood
Assuming the 90 days trading horizon Atalaya Mining is expected to generate 1.25 times more return on investment than Grieg Seafood. However, Atalaya Mining is 1.25 times more volatile than Grieg Seafood. It trades about 0.24 of its potential returns per unit of risk. Grieg Seafood is currently generating about 0.04 per unit of risk. If you would invest 53,800 in Atalaya Mining on September 11, 2025 and sell it today you would earn a total of 21,400 from holding Atalaya Mining or generate 39.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atalaya Mining vs. Grieg Seafood
Performance |
| Timeline |
| Atalaya Mining |
| Grieg Seafood |
Atalaya Mining and Grieg Seafood Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atalaya Mining and Grieg Seafood
The main advantage of trading using opposite Atalaya Mining and Grieg Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atalaya Mining position performs unexpectedly, Grieg 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 Grieg Seafood will offset losses from the drop in Grieg Seafood's long position.| Atalaya Mining vs. Givaudan SA | Atalaya Mining vs. Antofagasta PLC | Atalaya Mining vs. Clariant AG | Atalaya Mining vs. EVRAZ plc |
| Grieg Seafood vs. Roadside Real Estate | Grieg Seafood vs. Power Metal Resources | Grieg Seafood vs. Tamburi Investment Partners | Grieg Seafood vs. Synergia Energy |
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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