Correlation Between Andfjord Salmon and SpareBank

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

By analyzing existing cross correlation between Andfjord Salmon AS and SpareBank 1 stlandet, you can compare the effects of market volatilities on Andfjord Salmon and SpareBank 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 Andfjord Salmon with a short position of SpareBank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Andfjord Salmon and SpareBank.

Diversification Opportunities for Andfjord Salmon and SpareBank

-0.45

Correlation Coefficient

Andfjord Salmon  SpareBank

Very good diversification

The 3 months correlation between Andfjord and SpareBank is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Andfjord Salmon AS and SpareBank 1 stlandet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SpareBank 1 stlandet and Andfjord Salmon 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 Andfjord Salmon AS are associated (or correlated) with SpareBank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SpareBank 1 stlandet has no effect on the direction of Andfjord Salmon i.e., Andfjord Salmon and SpareBank go up and down completely randomly.

Pair Corralation between Andfjord Salmon and SpareBank

If you would invest  11,650  in SpareBank 1 stlandet on June 29, 2025 and sell it today you would earn a total of  7,080  from holding SpareBank 1 stlandet or generate 60.77% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	0.2%
Values	Daily Returns

Andfjord Salmon AS  vs.  SpareBank 1 stlandet

Andfjord Salmon AS

Risk-Adjusted Performance

Weakest

Over the last 90 days Andfjord Salmon AS has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent essential indicators, Andfjord Salmon is not utilizing all of its potentials. The current stock price mess, may contribute to short-term losses for the institutional investors.

SpareBank 1 stlandet

Risk-Adjusted Performance

Weakest

Over the last 90 days SpareBank 1 stlandet has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent essential indicators, SpareBank is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

Pair Trading with Andfjord Salmon and SpareBank

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

The idea behind Andfjord Salmon AS and SpareBank 1 stlandet 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.

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 Commodity Directory module to find actively traded commodities issued by global exchanges.