Correlation Between Akcansa Cimento and Kent Gida
Can any of the company-specific risk be diversified away by investing in both Akcansa Cimento and Kent Gida 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 Kent Gida 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 Kent Gida Maddeleri, you can compare the effects of market volatilities on Akcansa Cimento and Kent Gida 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 Kent Gida. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akcansa Cimento and Kent Gida.
Diversification Opportunities for Akcansa Cimento and Kent Gida
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Akcansa and Kent is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Akcansa Cimento Sanayi and Kent Gida Maddeleri in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kent Gida Maddeleri 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 Kent Gida. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kent Gida Maddeleri has no effect on the direction of Akcansa Cimento i.e., Akcansa Cimento and Kent Gida go up and down completely randomly.
Pair Corralation between Akcansa Cimento and Kent Gida
Assuming the 90 days trading horizon Akcansa Cimento Sanayi is expected to under-perform the Kent Gida. In addition to that, Akcansa Cimento is 1.03 times more volatile than Kent Gida Maddeleri. It trades about -0.04 of its total potential returns per unit of risk. Kent Gida Maddeleri is currently generating about 0.02 per unit of volatility. If you would invest 97,250 in Kent Gida Maddeleri on December 11, 2024 and sell it today you would earn a total of 1,300 from holding Kent Gida Maddeleri or generate 1.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akcansa Cimento Sanayi vs. Kent Gida Maddeleri
Performance |
| Timeline |
| Akcansa Cimento Sanayi |
| Kent Gida Maddeleri |
Akcansa Cimento and Kent Gida Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akcansa Cimento and Kent Gida
The main advantage of trading using opposite Akcansa Cimento and Kent Gida positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akcansa Cimento position performs unexpectedly, Kent Gida 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 Kent Gida will offset losses from the drop in Kent Gida's long position.| Akcansa Cimento vs. KOC METALURJI | Akcansa Cimento vs. Politeknik Metal Sanayi | Akcansa Cimento vs. MEGA METAL | Akcansa Cimento vs. Trabzonspor Sportif Yatirim |
| Kent Gida vs. MEGA METAL | Kent Gida vs. Politeknik Metal Sanayi | Kent Gida vs. Gentas Genel Metal | Kent Gida vs. Bms Birlesik Metal |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |