Correlation Between Lery Seafood and ABG Sundal
Can any of the company-specific risk be diversified away by investing in both Lery Seafood and ABG Sundal 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 Lery Seafood and ABG Sundal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lery Seafood Group and ABG Sundal Collier, you can compare the effects of market volatilities on Lery Seafood and ABG Sundal 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 Lery Seafood with a short position of ABG Sundal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lery Seafood and ABG Sundal.
Diversification Opportunities for Lery Seafood and ABG Sundal
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Lery and ABG is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Lery Seafood Group and ABG Sundal Collier in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABG Sundal Collier and Lery Seafood 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 Lery Seafood Group are associated (or correlated) with ABG Sundal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABG Sundal Collier has no effect on the direction of Lery Seafood i.e., Lery Seafood and ABG Sundal go up and down completely randomly.
Pair Corralation between Lery Seafood and ABG Sundal
Assuming the 90 days trading horizon Lery Seafood is expected to generate 3.56 times less return on investment than ABG Sundal. But when comparing it to its historical volatility, Lery Seafood Group is 1.65 times less risky than ABG Sundal. It trades about 0.15 of its potential returns per unit of risk. ABG Sundal Collier is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest 710.00 in ABG Sundal Collier on September 7, 2025 and sell it today you would earn a total of 95.00 from holding ABG Sundal Collier or generate 13.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Lery Seafood Group vs. ABG Sundal Collier
Performance |
| Timeline |
| Lery Seafood Group |
| ABG Sundal Collier |
Lery Seafood and ABG Sundal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lery Seafood and ABG Sundal
The main advantage of trading using opposite Lery Seafood and ABG Sundal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lery Seafood position performs unexpectedly, ABG Sundal 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 ABG Sundal will offset losses from the drop in ABG Sundal's long position.| Lery Seafood vs. SpareBank 1 stlandet | Lery Seafood vs. Sparebanken Ost | Lery Seafood vs. Melhus Sparebank | Lery Seafood vs. Grong Sparebank |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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