Correlation Between Nordic Semiconductor and ACCESS Newswire

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

By analyzing existing cross correlation between Nordic Semiconductor ASA and ACCESS Newswire, you can compare the effects of market volatilities on Nordic Semiconductor and ACCESS Newswire 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 Nordic Semiconductor with a short position of ACCESS Newswire. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nordic Semiconductor and ACCESS Newswire.

Diversification Opportunities for Nordic Semiconductor and ACCESS Newswire

-0.82

Correlation Coefficient

Nordic Semiconductor  ACCESS Newswire

Pay attention - limited upside

The 3 months correlation between Nordic and ACCESS is -0.82. Overlapping area represents the amount of risk that can be diversified away by holding Nordic Semiconductor ASA and ACCESS Newswire in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACCESS Newswire and Nordic Semiconductor 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 Nordic Semiconductor ASA are associated (or correlated) with ACCESS Newswire. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACCESS Newswire has no effect on the direction of Nordic Semiconductor i.e., Nordic Semiconductor and ACCESS Newswire go up and down completely randomly.

Pair Corralation between Nordic Semiconductor and ACCESS Newswire

Assuming the 90 days horizon Nordic Semiconductor ASA is expected to generate 1.25 times more return on investment than ACCESS Newswire. However, Nordic Semiconductor is 1.25 times more volatile than ACCESS Newswire. It trades about 0.08 of its potential returns per unit of risk. ACCESS Newswire is currently generating about -0.06 per unit of risk. If you would invest  1,377  in Nordic Semiconductor ASA on July 10, 2025 and sell it today you would earn a total of  198.00  from holding Nordic Semiconductor ASA or generate 14.38% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Nordic Semiconductor ASA  vs.  ACCESS Newswire

Nordic Semiconductor ASA

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Nordic Semiconductor ASA are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly weak basic indicators, Nordic Semiconductor reported solid returns over the last few months and may actually be approaching a breakup point.

ACCESS Newswire

Risk-Adjusted Performance

Weakest

Over the last 90 days ACCESS Newswire has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unfluctuating performance, the Stock's fundamental indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Pair Trading with Nordic Semiconductor and ACCESS Newswire

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

The idea behind Nordic Semiconductor ASA and ACCESS Newswire 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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.