Gigante Salmon Correlations

GIGA Stock

8.30 0.22 2.72%

The current 90-days correlation between Gigante Salmon AS and Andfjord Salmon AS is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gigante Salmon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gigante Salmon AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gigante Salmon Correlation With Market

Average diversification

The correlation between Gigante Salmon AS and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gigante Salmon AS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gigante Salmon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gigante Salmon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Gigante Salmon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Gigante Salmon AS to buy it.

Moving together with Gigante Stock

0.66	MOWI	Mowi ASA	Pair Corr
0.88	ISLAX	Icelandic Salmon	Pair Corr
0.85	AFISH	Arctic Fish Holding	Pair Corr
0.86	ANDF	Andfjord Salmon AS Earnings Call This Week	Pair Corr
0.79	NORTH	North Energy ASA	Pair Corr

Moving against Gigante Stock

0.73	MAS	Masoval AS	Pair Corr
0.51	OTEC	Otello ASA	Pair Corr
0.35	ENSU	Ensurge Micropower ASA	Pair Corr

Related Correlations Analysis

	ANDF	AFISH	IFISH	ELK	VOW	NORTH	AZT	EQVA	XXL	EQNR
ANDF		0.76	0.52	-0.31	-0.33	0.8	-0.82	-0.46	-0.96	-0.32	ANDF
AFISH	0.76		0.67	-0.18	-0.29	0.82	-0.59	-0.7	-0.73	-0.36	AFISH
IFISH	0.52	0.67		-0.05	0.11	0.66	-0.3	-0.51	-0.48	-0.07	IFISH
ELK	-0.31	-0.18	-0.05		0.44	-0.11	0.26	-0.29	0.29	0.52	ELK
VOW	-0.33	-0.29	0.11	0.44		-0.09	0.68	0.12	0.44	0.53	VOW
NORTH	0.8	0.82	0.66	-0.11	-0.09		-0.59	-0.63	-0.78	-0.12	NORTH
AZT	-0.82	-0.59	-0.3	0.26	0.68	-0.59		0.41	0.9	0.42	AZT
EQVA	-0.46	-0.7	-0.51	-0.29	0.12	-0.63	0.41		0.51	0.16	EQVA
XXL	-0.96	-0.73	-0.48	0.29	0.44	-0.78	0.9	0.51		0.38	XXL
EQNR	-0.32	-0.36	-0.07	0.52	0.53	-0.12	0.42	0.16	0.38		EQNR
	ANDF	AFISH	IFISH	ELK	VOW	NORTH	AZT	EQVA	XXL	EQNR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XXL	+ 0.9	AZT
NORTH	+ 0.82	AFISH
NORTH	+ 0.8	ANDF
AFISH	+ 0.76	ANDF
AZT	+ 0.68	VOW
IFISH	+ 0.67	AFISH

High negative correlations

XXL	- 0.96	ANDF
AZT	- 0.82	ANDF
XXL	- 0.78	NORTH
XXL	- 0.73	AFISH
EQVA	- 0.7	AFISH
EQVA	- 0.63	NORTH

Risk-Adjusted Indicators

There is a big difference between Gigante Stock performing well and Gigante Salmon Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gigante Salmon's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANDF	1.24	0.34	0.17	1.09	0.93	(1.70)	2.46	(2.19)	14.07
AFISH	3.22	0.56	0.11	(1.52)	2.92	(4.32)	8.57	(5.17)	20.80
IFISH	3.82	0.22	0.00	(0.17)	4.14	(5.40)	11.94	(7.52)	29.87
ELK	1.67	(0.20)	0.00	(0.43)	0.00	0.00	3.38	(3.71)	12.04
VOW	5.48	(1.43)	0.00	(1.41)	0.00	0.00	7.78	(15.59)	66.61
NORTH	1.16	0.05	(0.02)	0.31	1.45	(1.42)	2.77	(2.62)	7.51
AZT	2.00	(0.53)	0.00	0.72	0.00	0.00	4.29	(4.71)	25.36
EQVA	2.94	0.17	0.00	0.02	0.00	0.00	6.03	(4.71)	26.86
XXL	4.19	(1.85)	0.00	0.73	0.00	0.00	5.00	(6.04)	72.03
EQNR	1.38	0.02	0.00	0.04	0.00	0.00	2.88	(3.22)	8.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gigante Salmon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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