Correlation Between Akbank TAS and Atlas Menkul
Can any of the company-specific risk be diversified away by investing in both Akbank TAS and Atlas Menkul 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 Akbank TAS and Atlas Menkul into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akbank TAS and Atlas Menkul Kiymetler, you can compare the effects of market volatilities on Akbank TAS and Atlas Menkul 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 Akbank TAS with a short position of Atlas Menkul. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akbank TAS and Atlas Menkul.
Diversification Opportunities for Akbank TAS and Atlas Menkul
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Akbank and Atlas is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Akbank TAS and Atlas Menkul Kiymetler in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlas Menkul Kiymetler and Akbank TAS 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 Akbank TAS are associated (or correlated) with Atlas Menkul. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlas Menkul Kiymetler has no effect on the direction of Akbank TAS i.e., Akbank TAS and Atlas Menkul go up and down completely randomly.
Pair Corralation between Akbank TAS and Atlas Menkul
Assuming the 90 days trading horizon Akbank TAS is expected to generate 0.83 times more return on investment than Atlas Menkul. However, Akbank TAS is 1.2 times less risky than Atlas Menkul. It trades about 0.1 of its potential returns per unit of risk. Atlas Menkul Kiymetler is currently generating about 0.06 per unit of risk. If you would invest 1,732 in Akbank TAS on September 14, 2024 and sell it today you would earn a total of 4,633 from holding Akbank TAS or generate 267.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Akbank TAS vs. Atlas Menkul Kiymetler
Performance |
| Timeline |
| Akbank TAS |
| Atlas Menkul Kiymetler |
Akbank TAS and Atlas Menkul Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akbank TAS and Atlas Menkul
The main advantage of trading using opposite Akbank TAS and Atlas Menkul positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akbank TAS position performs unexpectedly, Atlas Menkul 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 Atlas Menkul will offset losses from the drop in Atlas Menkul's long position.| Akbank TAS vs. Turkiye Garanti Bankasi | Akbank TAS vs. Yapi ve Kredi | Akbank TAS vs. Turkiye Is Bankasi | Akbank TAS vs. Koc Holding AS |
| Atlas Menkul vs. Akbank TAS | Atlas Menkul vs. CEO Event Medya | Atlas Menkul vs. Gentas Genel Metal | Atlas Menkul vs. Turkiye Kalkinma Bankasi |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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