Correlation Between Atlantic Sapphire and Clean Seas
Can any of the company-specific risk be diversified away by investing in both Atlantic Sapphire and Clean Seas 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 Atlantic Sapphire and Clean Seas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atlantic Sapphire As and Clean Seas Seafood, you can compare the effects of market volatilities on Atlantic Sapphire and Clean Seas 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 Atlantic Sapphire with a short position of Clean Seas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlantic Sapphire and Clean Seas.
Diversification Opportunities for Atlantic Sapphire and Clean Seas
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atlantic and Clean is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Atlantic Sapphire As and Clean Seas Seafood in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clean Seas Seafood and Atlantic Sapphire 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 Atlantic Sapphire As are associated (or correlated) with Clean Seas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clean Seas Seafood has no effect on the direction of Atlantic Sapphire i.e., Atlantic Sapphire and Clean Seas go up and down completely randomly.
Pair Corralation between Atlantic Sapphire and Clean Seas
Assuming the 90 days trading horizon Atlantic Sapphire As is expected to generate 6.04 times more return on investment than Clean Seas. However, Atlantic Sapphire is 6.04 times more volatile than Clean Seas Seafood. It trades about 0.08 of its potential returns per unit of risk. Clean Seas Seafood is currently generating about -0.18 per unit of risk. If you would invest 756.00 in Atlantic Sapphire As on April 24, 2025 and sell it today you would earn a total of 214.00 from holding Atlantic Sapphire As or generate 28.31% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Atlantic Sapphire As vs. Clean Seas Seafood
Performance |
Timeline |
Atlantic Sapphire |
Clean Seas Seafood |
Atlantic Sapphire and Clean Seas Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Atlantic Sapphire and Clean Seas
The main advantage of trading using opposite Atlantic Sapphire and Clean Seas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlantic Sapphire position performs unexpectedly, Clean Seas 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 Clean Seas will offset losses from the drop in Clean Seas' long position.Atlantic Sapphire vs. Grieg Seafood ASA | Atlantic Sapphire vs. Mowi ASA | Atlantic Sapphire vs. SalMar ASA | Atlantic Sapphire vs. Pf Bakkafrost |
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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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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