Correlation Between Okea ASA and Arctic Fish
Can any of the company-specific risk be diversified away by investing in both Okea ASA and Arctic Fish 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 Okea ASA and Arctic Fish into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Okea ASA and Arctic Fish Holding, you can compare the effects of market volatilities on Okea ASA and Arctic Fish 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 Okea ASA with a short position of Arctic Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of Okea ASA and Arctic Fish.
Diversification Opportunities for Okea ASA and Arctic Fish
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Okea and Arctic is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Okea ASA and Arctic Fish Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arctic Fish Holding and Okea ASA 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 Okea ASA are associated (or correlated) with Arctic Fish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arctic Fish Holding has no effect on the direction of Okea ASA i.e., Okea ASA and Arctic Fish go up and down completely randomly.
Pair Corralation between Okea ASA and Arctic Fish
Assuming the 90 days trading horizon Okea ASA is expected to generate 0.4 times more return on investment than Arctic Fish. However, Okea ASA is 2.51 times less risky than Arctic Fish. It trades about 0.11 of its potential returns per unit of risk. Arctic Fish Holding is currently generating about -0.09 per unit of risk. If you would invest 1,794 in Okea ASA on September 20, 2025 and sell it today you would earn a total of 301.00 from holding Okea ASA or generate 16.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Okea ASA vs. Arctic Fish Holding
Performance |
| Timeline |
| Okea ASA |
| Arctic Fish Holding |
Okea ASA and Arctic Fish Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Okea ASA and Arctic Fish
The main advantage of trading using opposite Okea ASA and Arctic Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Okea ASA position performs unexpectedly, Arctic Fish 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 Arctic Fish will offset losses from the drop in Arctic Fish's long position.| Okea ASA vs. Northern Ocean | Okea ASA vs. Panoro Energy ASA | Okea ASA vs. Deep Value Driller | Okea ASA vs. Odfjell Technology |
| Arctic Fish vs. Nordic Halibut AS | Arctic Fish vs. Norcod As | Arctic Fish vs. Gigante Salmon AS | Arctic Fish vs. Lumi Gruppen AS |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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