Correlation Between Aksa Akrilik and Aksu Enerji
Can any of the company-specific risk be diversified away by investing in both Aksa Akrilik and Aksu Enerji 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 Aksa Akrilik and Aksu Enerji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aksa Akrilik Kimya and Aksu Enerji ve, you can compare the effects of market volatilities on Aksa Akrilik and Aksu Enerji 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 Aksa Akrilik with a short position of Aksu Enerji. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aksa Akrilik and Aksu Enerji.
Diversification Opportunities for Aksa Akrilik and Aksu Enerji
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Aksa and Aksu is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Aksa Akrilik Kimya and Aksu Enerji ve in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aksu Enerji ve and Aksa Akrilik 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 Aksa Akrilik Kimya are associated (or correlated) with Aksu Enerji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aksu Enerji ve has no effect on the direction of Aksa Akrilik i.e., Aksa Akrilik and Aksu Enerji go up and down completely randomly.
Pair Corralation between Aksa Akrilik and Aksu Enerji
Assuming the 90 days trading horizon Aksa Akrilik Kimya is expected to generate 0.55 times more return on investment than Aksu Enerji. However, Aksa Akrilik Kimya is 1.83 times less risky than Aksu Enerji. It trades about 0.33 of its potential returns per unit of risk. Aksu Enerji ve is currently generating about 0.08 per unit of risk. If you would invest 825.00 in Aksa Akrilik Kimya on August 30, 2024 and sell it today you would earn a total of 107.00 from holding Aksa Akrilik Kimya or generate 12.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aksa Akrilik Kimya vs. Aksu Enerji ve
Performance |
| Timeline |
| Aksa Akrilik Kimya |
| Aksu Enerji ve |
Aksa Akrilik and Aksu Enerji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aksa Akrilik and Aksu Enerji
The main advantage of trading using opposite Aksa Akrilik and Aksu Enerji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aksa Akrilik position performs unexpectedly, Aksu Enerji 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 Aksu Enerji will offset losses from the drop in Aksu Enerji's long position.| Aksa Akrilik vs. Eregli Demir ve | Aksa Akrilik vs. Turkiye Sise ve | Aksa Akrilik vs. Tofas Turk Otomobil | Aksa Akrilik vs. Ford Otomotiv Sanayi |
| Aksu Enerji vs. Koza Anadolu Metal | Aksu Enerji vs. Turkiye Kalkinma Bankasi | Aksu Enerji vs. ICBC Turkey Bank | Aksu Enerji 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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