Correlation Between Conygar Investment and Austevoll Seafood
Can any of the company-specific risk be diversified away by investing in both Conygar Investment 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 Conygar Investment and Austevoll Seafood into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Conygar Investment Co and Austevoll Seafood ASA, you can compare the effects of market volatilities on Conygar Investment 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 Conygar Investment with a short position of Austevoll Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Conygar Investment and Austevoll Seafood.
Diversification Opportunities for Conygar Investment and Austevoll Seafood
-0.88 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Conygar and Austevoll is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding Conygar Investment Co 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 Conygar Investment 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 Conygar Investment Co 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 Conygar Investment i.e., Conygar Investment and Austevoll Seafood go up and down completely randomly.
Pair Corralation between Conygar Investment and Austevoll Seafood
Assuming the 90 days trading horizon Conygar Investment Co is expected to generate 3.23 times more return on investment than Austevoll Seafood. However, Conygar Investment is 3.23 times more volatile than Austevoll Seafood ASA. It trades about 0.08 of its potential returns per unit of risk. Austevoll Seafood ASA is currently generating about -0.07 per unit of risk. If you would invest 2,900 in Conygar Investment Co on September 10, 2025 and sell it today you would earn a total of 450.00 from holding Conygar Investment Co or generate 15.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Conygar Investment Co vs. Austevoll Seafood ASA
Performance |
| Timeline |
| Conygar Investment |
| Austevoll Seafood ASA |
Conygar Investment and Austevoll Seafood Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Conygar Investment and Austevoll Seafood
The main advantage of trading using opposite Conygar Investment and Austevoll Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Conygar Investment 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.| Conygar Investment vs. Supermarket Income REIT | Conygar Investment vs. Coor Service Management | Conygar Investment vs. Sancus Lending Group | Conygar Investment vs. Aeorema Communications Plc |
| Austevoll Seafood vs. Toyota Motor Corp | Austevoll Seafood vs. Samsung Electronics Co | Austevoll Seafood vs. Samsung Electronics Co | Austevoll Seafood vs. Samsung Electronics Co |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |