Correlation Between Icelandic Salmon and Proximar Seafood
Can any of the company-specific risk be diversified away by investing in both Icelandic Salmon and Proximar 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 Icelandic Salmon and Proximar Seafood into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Icelandic Salmon As and Proximar Seafood AS, you can compare the effects of market volatilities on Icelandic Salmon and Proximar 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 Icelandic Salmon with a short position of Proximar Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Icelandic Salmon and Proximar Seafood.
Diversification Opportunities for Icelandic Salmon and Proximar Seafood
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Icelandic and Proximar is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Icelandic Salmon As and Proximar Seafood AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Proximar Seafood and Icelandic Salmon 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 Icelandic Salmon As are associated (or correlated) with Proximar Seafood. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Proximar Seafood has no effect on the direction of Icelandic Salmon i.e., Icelandic Salmon and Proximar Seafood go up and down completely randomly.
Pair Corralation between Icelandic Salmon and Proximar Seafood
Assuming the 90 days trading horizon Icelandic Salmon As is expected to generate 0.71 times more return on investment than Proximar Seafood. However, Icelandic Salmon As is 1.42 times less risky than Proximar Seafood. It trades about -0.02 of its potential returns per unit of risk. Proximar Seafood AS is currently generating about -0.14 per unit of risk. If you would invest 8,440 in Icelandic Salmon As on September 4, 2025 and sell it today you would lose (440.00) from holding Icelandic Salmon As or give up 5.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Icelandic Salmon As vs. Proximar Seafood AS
Performance |
| Timeline |
| Icelandic Salmon |
| Proximar Seafood |
Icelandic Salmon and Proximar Seafood Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Icelandic Salmon and Proximar Seafood
The main advantage of trading using opposite Icelandic Salmon and Proximar Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Icelandic Salmon position performs unexpectedly, Proximar 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 Proximar Seafood will offset losses from the drop in Proximar Seafood's long position.| Icelandic Salmon vs. Mowi ASA | Icelandic Salmon vs. SalMar ASA | Icelandic Salmon vs. Austevoll Seafood ASA | Icelandic Salmon vs. Salmon Evolution Holding |
| Proximar Seafood vs. SpareBank 1 stlandet | Proximar Seafood vs. Thor Medical ASA | Proximar Seafood vs. Napatech AS | Proximar Seafood vs. Nordic Mining ASA |
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 Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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