Correlation Between Intuitive Investments and Austevoll Seafood

Can any of the company-specific risk be diversified away by investing in both Intuitive Investments and Austevoll 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 Intuitive Investments and Austevoll Seafood into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Intuitive Investments Group and Austevoll Seafood ASA, you can compare the effects of market volatilities on Intuitive Investments and Austevoll 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 Intuitive Investments with a short position of Austevoll Seafood. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intuitive Investments and Austevoll Seafood.

Diversification Opportunities for Intuitive Investments and Austevoll Seafood

0.47

Correlation Coefficient

Intuitive Investments  Austevoll Seafood

Very weak diversification

The 3 months correlation between Intuitive and Austevoll is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Investments Group and Austevoll Seafood ASA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Austevoll Seafood ASA and Intuitive Investments 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 Intuitive Investments Group are associated (or correlated) with Austevoll Seafood. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Austevoll Seafood ASA has no effect on the direction of Intuitive Investments i.e., Intuitive Investments and Austevoll Seafood go up and down completely randomly.

Pair Corralation between Intuitive Investments and Austevoll Seafood

Assuming the 90 days trading horizon Intuitive Investments is expected to generate 2.92 times less return on investment than Austevoll Seafood. In addition to that, Intuitive Investments is 2.05 times more volatile than Austevoll Seafood ASA. It trades about 0.03 of its total potential returns per unit of risk. Austevoll Seafood ASA is currently generating about 0.16 per unit of volatility. If you would invest  9,330  in Austevoll Seafood ASA on April 5, 2025 and sell it today you would earn a total of  457.00  from holding Austevoll Seafood ASA or generate 4.9% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	95.65%
Values	Daily Returns

Intuitive Investments Group  vs.  Austevoll Seafood ASA

Intuitive Investments

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Intuitive Investments Group are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of rather uncertain technical and fundamental indicators, Intuitive Investments exhibited solid returns over the last few months and may actually be approaching a breakup point.

Austevoll Seafood ASA

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Austevoll Seafood ASA are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unsteady basic indicators, Austevoll Seafood may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Intuitive Investments and Austevoll Seafood

The main advantage of trading using opposite Intuitive Investments and Austevoll Seafood positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intuitive Investments position performs unexpectedly, Austevoll 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 Austevoll Seafood will offset losses from the drop in Austevoll Seafood's long position.

The idea behind Intuitive Investments Group and Austevoll Seafood ASA pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.