Correlation Between Akcansa Cimento and Duran Dogan
Can any of the company-specific risk be diversified away by investing in both Akcansa Cimento and Duran Dogan 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 Akcansa Cimento and Duran Dogan into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akcansa Cimento Sanayi and Duran Dogan Basim ve, you can compare the effects of market volatilities on Akcansa Cimento and Duran Dogan 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 Akcansa Cimento with a short position of Duran Dogan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akcansa Cimento and Duran Dogan.
Diversification Opportunities for Akcansa Cimento and Duran Dogan
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Akcansa and Duran is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Akcansa Cimento Sanayi and Duran Dogan Basim ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duran Dogan Basim and Akcansa Cimento 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 Akcansa Cimento Sanayi are associated (or correlated) with Duran Dogan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duran Dogan Basim has no effect on the direction of Akcansa Cimento i.e., Akcansa Cimento and Duran Dogan go up and down completely randomly.
Pair Corralation between Akcansa Cimento and Duran Dogan
Assuming the 90 days trading horizon Akcansa Cimento Sanayi is expected to generate 0.34 times more return on investment than Duran Dogan. However, Akcansa Cimento Sanayi is 2.97 times less risky than Duran Dogan. It trades about 0.17 of its potential returns per unit of risk. Duran Dogan Basim ve is currently generating about 0.0 per unit of risk. If you would invest 15,520 in Akcansa Cimento Sanayi on September 4, 2024 and sell it today you would earn a total of 1,340 from holding Akcansa Cimento Sanayi or generate 8.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akcansa Cimento Sanayi vs. Duran Dogan Basim ve
Performance |
| Timeline |
| Akcansa Cimento Sanayi |
| Duran Dogan Basim |
Akcansa Cimento and Duran Dogan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akcansa Cimento and Duran Dogan
The main advantage of trading using opposite Akcansa Cimento and Duran Dogan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akcansa Cimento position performs unexpectedly, Duran Dogan 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 Duran Dogan will offset losses from the drop in Duran Dogan's long position.| Akcansa Cimento vs. Qnb Finansbank AS | Akcansa Cimento vs. Turkiye Kalkinma Bankasi | Akcansa Cimento vs. Kocaer Celik Sanayi | Akcansa Cimento vs. Cimentas Izmir Cimento |
| Duran Dogan vs. Creditwest Faktoring AS | Duran Dogan vs. ICBC Turkey Bank | Duran Dogan vs. MEGA METAL | Duran Dogan vs. Sekerbank TAS |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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