Correlation Between Akis Gayrimenkul and Gentas Genel
Can any of the company-specific risk be diversified away by investing in both Akis Gayrimenkul and Gentas Genel 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 Akis Gayrimenkul and Gentas Genel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Akis Gayrimenkul Yatirim and Gentas Genel Metal, you can compare the effects of market volatilities on Akis Gayrimenkul and Gentas Genel 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 Akis Gayrimenkul with a short position of Gentas Genel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Akis Gayrimenkul and Gentas Genel.
Diversification Opportunities for Akis Gayrimenkul and Gentas Genel
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Akis and Gentas is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Akis Gayrimenkul Yatirim and Gentas Genel Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gentas Genel Metal and Akis 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 Akis Gayrimenkul Yatirim are associated (or correlated) with Gentas Genel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gentas Genel Metal has no effect on the direction of Akis Gayrimenkul i.e., Akis Gayrimenkul and Gentas Genel go up and down completely randomly.
Pair Corralation between Akis Gayrimenkul and Gentas Genel
Assuming the 90 days trading horizon Akis Gayrimenkul Yatirim is expected to generate 2.73 times more return on investment than Gentas Genel. However, Akis Gayrimenkul is 2.73 times more volatile than Gentas Genel Metal. It trades about 0.05 of its potential returns per unit of risk. Gentas Genel Metal is currently generating about 0.05 per unit of risk. If you would invest 250.00 in Akis Gayrimenkul Yatirim on September 3, 2024 and sell it today you would earn a total of 458.00 from holding Akis Gayrimenkul Yatirim or generate 183.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Akis Gayrimenkul Yatirim vs. Gentas Genel Metal
Performance |
| Timeline |
| Akis Gayrimenkul Yatirim |
| Gentas Genel Metal |
Akis Gayrimenkul and Gentas Genel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Akis Gayrimenkul and Gentas Genel
The main advantage of trading using opposite Akis Gayrimenkul and Gentas Genel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Akis Gayrimenkul position performs unexpectedly, Gentas Genel 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 Gentas Genel will offset losses from the drop in Gentas Genel's long position.| Akis Gayrimenkul vs. Gentas Genel Metal | Akis Gayrimenkul vs. Politeknik Metal Sanayi | Akis Gayrimenkul vs. ICBC Turkey Bank | Akis Gayrimenkul vs. Sodas Sodyum 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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