Correlation Between Akcansa Cimento and Seker Finansal
Can any of the company-specific risk be diversified away by investing in both Akcansa Cimento and Seker Finansal 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 Seker Finansal 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 Seker Finansal Kiralama, you can compare the effects of market volatilities on Akcansa Cimento and Seker Finansal 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 Seker Finansal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akcansa Cimento and Seker Finansal.
Diversification Opportunities for Akcansa Cimento and Seker Finansal
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Akcansa and Seker is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Akcansa Cimento Sanayi and Seker Finansal Kiralama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seker Finansal Kiralama 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 Seker Finansal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seker Finansal Kiralama has no effect on the direction of Akcansa Cimento i.e., Akcansa Cimento and Seker Finansal go up and down completely randomly.
Pair Corralation between Akcansa Cimento and Seker Finansal
Assuming the 90 days trading horizon Akcansa Cimento Sanayi is expected to generate 1.18 times more return on investment than Seker Finansal. However, Akcansa Cimento is 1.18 times more volatile than Seker Finansal Kiralama. It trades about -0.05 of its potential returns per unit of risk. Seker Finansal Kiralama is currently generating about -0.07 per unit of risk. If you would invest 18,800 in Akcansa Cimento Sanayi on November 22, 2024 and sell it today you would lose (800.00) from holding Akcansa Cimento Sanayi or give up 4.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akcansa Cimento Sanayi vs. Seker Finansal Kiralama
Performance |
| Timeline |
| Akcansa Cimento Sanayi |
| Seker Finansal Kiralama |
Akcansa Cimento and Seker Finansal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akcansa Cimento and Seker Finansal
The main advantage of trading using opposite Akcansa Cimento and Seker Finansal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akcansa Cimento position performs unexpectedly, Seker Finansal 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 Seker Finansal will offset losses from the drop in Seker Finansal's long position.| Akcansa Cimento vs. Cuhadaroglu Metal Sanayi | Akcansa Cimento vs. KOC METALURJI | Akcansa Cimento vs. Creditwest Faktoring AS | Akcansa Cimento vs. Koza Anadolu Metal |
| Seker Finansal vs. Gentas Genel Metal | Seker Finansal vs. MEGA METAL | Seker Finansal vs. Koza Anadolu Metal | Seker Finansal vs. Akbank 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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