Correlation Between Proximar Seafood and Ventura Offshore
Can any of the company-specific risk be diversified away by investing in both Proximar Seafood and Ventura Offshore 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 Proximar Seafood and Ventura Offshore into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Proximar Seafood AS and Ventura Offshore Holding, you can compare the effects of market volatilities on Proximar Seafood and Ventura Offshore 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 Proximar Seafood with a short position of Ventura Offshore. Check out your portfolio center. Please also check ongoing floating volatility patterns of Proximar Seafood and Ventura Offshore.
Diversification Opportunities for Proximar Seafood and Ventura Offshore
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Proximar and Ventura is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Proximar Seafood AS and Ventura Offshore Holding in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ventura Offshore Holding and Proximar 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 Proximar Seafood AS are associated (or correlated) with Ventura Offshore. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ventura Offshore Holding has no effect on the direction of Proximar Seafood i.e., Proximar Seafood and Ventura Offshore go up and down completely randomly.
Pair Corralation between Proximar Seafood and Ventura Offshore
Assuming the 90 days trading horizon Proximar Seafood AS is expected to under-perform the Ventura Offshore. In addition to that, Proximar Seafood is 1.69 times more volatile than Ventura Offshore Holding. It trades about -0.14 of its total potential returns per unit of risk. Ventura Offshore Holding is currently generating about -0.11 per unit of volatility. If you would invest 2,390 in Ventura Offshore Holding on September 3, 2025 and sell it today you would lose (390.00) from holding Ventura Offshore Holding or give up 16.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Proximar Seafood AS vs. Ventura Offshore Holding
Performance |
| Timeline |
| Proximar Seafood |
| Ventura Offshore Holding |
Proximar Seafood and Ventura Offshore Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Proximar Seafood and Ventura Offshore
The main advantage of trading using opposite Proximar Seafood and Ventura Offshore positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Proximar Seafood position performs unexpectedly, Ventura Offshore 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 Ventura Offshore will offset losses from the drop in Ventura Offshore's long position.| Proximar Seafood vs. Mowi ASA | Proximar Seafood vs. SalMar ASA | Proximar Seafood vs. Austevoll Seafood ASA | Proximar Seafood vs. Icelandic Salmon As |
| Ventura Offshore vs. Nordic Mining ASA | Ventura Offshore vs. Pareto Bank ASA | Ventura Offshore vs. Techstep ASA | Ventura Offshore vs. Proximar Seafood 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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