Correlation Between Akfen Gayrimenkul and E Data
Can any of the company-specific risk be diversified away by investing in both Akfen Gayrimenkul and E Data 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 Akfen Gayrimenkul and E Data into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akfen Gayrimenkul Yatirim and E Data Teknoloji Pazarlama, you can compare the effects of market volatilities on Akfen Gayrimenkul and E Data 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 Akfen Gayrimenkul with a short position of E Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akfen Gayrimenkul and E Data.
Diversification Opportunities for Akfen Gayrimenkul and E Data
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Akfen and EDATA is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Akfen Gayrimenkul Yatirim and E Data Teknoloji Pazarlama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Data Teknoloji and Akfen Gayrimenkul 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 Akfen Gayrimenkul Yatirim are associated (or correlated) with E Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Data Teknoloji has no effect on the direction of Akfen Gayrimenkul i.e., Akfen Gayrimenkul and E Data go up and down completely randomly.
Pair Corralation between Akfen Gayrimenkul and E Data
Assuming the 90 days trading horizon Akfen Gayrimenkul is expected to generate 2.92 times less return on investment than E Data. In addition to that, Akfen Gayrimenkul is 1.03 times more volatile than E Data Teknoloji Pazarlama. It trades about 0.11 of its total potential returns per unit of risk. E Data Teknoloji Pazarlama is currently generating about 0.32 per unit of volatility. If you would invest 1,340 in E Data Teknoloji Pazarlama on September 15, 2024 and sell it today you would earn a total of 185.00 from holding E Data Teknoloji Pazarlama or generate 13.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akfen Gayrimenkul Yatirim vs. E Data Teknoloji Pazarlama
Performance |
| Timeline |
| Akfen Gayrimenkul Yatirim |
| E Data Teknoloji |
Akfen Gayrimenkul and E Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akfen Gayrimenkul and E Data
The main advantage of trading using opposite Akfen Gayrimenkul and E Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akfen Gayrimenkul position performs unexpectedly, E Data 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 E Data will offset losses from the drop in E Data's long position.| Akfen Gayrimenkul vs. E Data Teknoloji Pazarlama | Akfen Gayrimenkul vs. Koza Anadolu Metal | Akfen Gayrimenkul vs. Akcansa Cimento Sanayi | Akfen Gayrimenkul vs. Politeknik Metal Sanayi |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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